Tech stocks have been in a rout following last week's bearish note at Morgan Stanley. For chip stock Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:TSM), this has translated into an 8.7% drop from its Nov. 24 record high of $43.02. Nevertheless, shares of the Apple (AAPL) supplier are now trading near a trendline that has signaled buying opportunities in the past -- and coincides with another p...Read More
U.S. stocks are trading higher this afternoon, thanks to a much-needed rebound from tech stocks, and a slew of positive earnings data. While the Dow Jones Industrial Average (DJIA) and S&P 500 Index (SPX) are just above breakeven,the Nasdaq Composite (IXIC) is outperforming, attempting to bounce back from its steep two-day losing streak. Microsoft (MSFT) is currently leading the advancing Dow st...Read More
Shares of Alibaba Group Holding Ltd (NYSE:BABA) have shed roughly 20 points since hitting an all-time high of $191.75 on Nov. 22, last seen trading at $171.83. The stock is up 1.4% and there's reason to believe an even bigger bounce is on the way, given BABA's position on the charts. For instance, the equity's 14-day Relative Strength Index (RSI) settled at just 32 yesterday, right above oversold...Read More
Tobacco giant Altria Group, Inc. (NYSE:MO) has been trying to gain ground since its huge bear gap from July, but the shares are now facing a formidable technical hurdle. Not only does the stock seem to be stalling right near its year-to-date breakeven level, but just overhead are the 160- and 200-day moving averages, which look ready to block any rally attempts. Already a major underperformer in 2...Read More
McDonald's Corporation (NYSE:MCD) is the top Dow gainer this morning, with the stock tapping a record high of $174, after the company announced it's again revamping its menu by introducing a list of items costing $1, $2, or $3. The new Dollar Menu will debut nationwide in January. Jefferies responded by upgrading the stock to "buy" from "hold" and boosting its price target to $200 from $150. Up 42...Read More
Snap Inc (NYSE:SNAP) has had a much-maligned start since the stock began trading in early March. Nevertheless, the Snapchat stock has turned in a positive session in seven out of the last eight days -- pacing toward another win today -- and upbeat analysts are starting to chime in.Overnight, SNAP received an upgrade to "overweight" from "equal weight" at Barclays, as well as a price-target hike to...Read More
Shares of Apple Inc (NASDAQ:AAPL) are in focus today, as traders weigh competing headlines for the tech powerhouse. AAPL won its European Union (EU) trademark case against Chinese rival Xiaomi -- but research firm Kantar reported a sharp drop in iPhone market share during the three-month period ended in October. Specifically, the lack of availability for the iPhone X helped spark a year-over-year...Read More
Shares of Depomed Inc (NASDAQ:DEPO) are almost 12% higher in electronic trading, after the biotech said it is licensing the sales rights to its opioid pain drugs, Nucynta IR and Nucynta ER, to Collegium Pharmaceutical (COLL). As such, DEPO is also slashing its workforce by 40%, and plans to move its headquarters out of California -- with the company scouting potential sites in the Midwest or along...Read More
Dow Jones Industrial Average (DJIA) futures are signaling a positive open for stocks ahead of a big day for economic data. While investors will continue to consider the ramifications of the Republican tax plan, they're digesting a rise to nine-month highs in the U.S. trade deficit in October. Markit's services purchasing managers index (PMI) and the Institute for Supply Management's (ISM) non-manu...Read More
The Dow Jones Industrial Average (DJIA) was up over 300 points at its session high -- which also represented a record peak -- as markets cheered progress on the Republican tax reform bill. The S&P 500 Index (SPX) initially joined in on the fun as well, notching a record high on the strength of bank, retail, and media stocks. However, the Dow pared its gains as the session progressed, and the SPX d...Read More
It's been a rough week for tech stocks, after Morgan Stanley last Monday said it was time to take profits on semiconductors. Among those staring at stiff weekly losses -- and paring recent bitcoin gains -- are Advanced Micro Devices, Inc. (NASDAQ:AMD), Micron Technology, Inc. (NASDAQ:MU), and Nvidia Corporation (NASDAQ:NVDA), and the selling is continuing today. What's more, options volume is runn...Read More
U.S. stocks are trading mixed, as traders eye a simultaneous tax reform rally and tech dip. Among the names making big moves are bank concern Goldman Sachs Group Inc (NYSE:GS), retail powerhouse Macy's, Inc. (NYSE:M), and shipping company United Parcel Service, Inc. (NYSE:UPS). Here's a quick look at what's moving shares of GS, M, and UPS.GS Higher With Big Bank StocksGoldman Sachs stock is mo...Read More
The 20 stocks listed in the table below have attracted the highest total weekly options volume during the past 10 trading days. Data is courtesy of Schaeffer's Senior Quantitative Analyst Rocky White. Two names to note are bank stock JPMorgan Chase & Co. (NYSE:JPM) and streaming content provider Roku Inc (NASDAQ:ROKU). Below, we'll break down recent options trading activity on JPM and ROKU. Call T...Read More
Options traders are blasting CVS Health Corp (NYSE:CVS), on news the drugstore chain has put in a $69 billion bid for insurance giant Aetna (AET) -- in a move that will "transform healthcare," according to Leerink. At last check, 28,067 calls and 18,179 puts had traded on CVS stock -- six times what's typically seen, and total options volume pacing in the 100th annual percentile.Most active is the...Read More
U.S. stocks are trading mixed this afternoon, with bank and tech stocks moving in opposite directions. The Dow Jones Industrial Average (DJIA) and S&P 500 Index (SPX) are soaring, both touching fresh record highs as financial stocks rally on the Senate's tax reform bill that was passed Saturday.On the other hand, the Nasdaq Composite (IXIC) is modestly lower at midday, as FAANG stocks once ag...Read More
As bank stocks rally on the Senate's tax bill news, the Financial Select Sector SPDR Fund (XLF) is assailing new heights. The exchange-traded fund (ETF) is fresh off a 10-year high of $28.20, and was last seen 1.9% higher at $28.09. What's more, XLF call options are flying off the shelves at a rapid-fire rate.XLF calls are changing hands at six times the average intraday pace, with nearly 270,000...Read More
In its attempt at a hostile takeover over Qualcomm (QCOM), Broadcom Ltd (NASDAQ:AVGO) unveiled a list of 11 nominees for QCOM's board of directors, with a shareholder vote slated for March 6. Qualcomm has since issued a statement, calling the nominees "inherently conflicted" in a buyout attempt that "dramatically undervalues" the chipmaker relative to the benefit it offers Broadcom. After jumping...Read More
While most U.S. stocks are higher out of the gate, the shares of medical device maker Mazor Robotics Ltd (NASDAQ:MZOR) are bucking the trend, down 2.8% to trade at $56.11. MZOR stock is reeling amid reports that CEO Ori Hadomi is being investigated for insider trading related to Medtronic's (MDT) investment in Mazor back in 2016.Prior to today, MZOR stock was up roughly 164% in 2017, touching a r...Read More
Blue Apron Holdings Inc (NYSE:APRN) has struggled mightily since it first began trading in late June amid a suddenly crowded meal delivery industry that now includes Amazon (AMZN) and Weight Watchers (WTW). Nevertheless, the stock is soaring for a third straight day following last week's news of the company's CEO shift -- and upbeat analysts are chiming in.Earlier today, APRN received an upgrade t...Read More
One stock on the move today is low-cost carrier Southwest Airlines Co (NYSE:LUV), after Barron's mentioned LUV as one of the U.S.-focused companies that could benefit from the new Republican tax plan -- which passed the Senate in the early hours of Saturday morning, and features a reduced corporate tax rate as one of its key features.LUV stock is up 2.6% at $61.50 in electronic trading, having s...Read More