October 26, 2016 Market Wrap Up
The S&P 500 closed relatively flat today in what is one of the busiest earnings week of the year. Last night we heard from Apple, which disappointed by posting its third straight quarter of declining iPhone sales. This put a damper on the Nasdaq composite today as it dropped about .7%.
In the after hours we got earnings out of Tesla Motors (TSLA), which is up more than 6% at the time of this writing. This morning we got earnings out Biogen (BIIB), which is a gain of nearly 4%.
Stocks in play today included: Edwards Lifesciences (EW) -17%, Chipotle Mexican Grill (CMG) -9%, NCR +14.5%, and Akamai Technologies (AKAM) +14.6%
The VIX sold rose nearly 6%, closing at 14.24.
Crude oil futures prices sold off for the third straight day, and is now down more than 3% on the week.
On the options front, we saw large call buying activity in SolarCity (SCTY), which traded 2.1 times normal option volume. In addition, we saw heavy put buying in Western Union Company (WU), which saw 9.8 times normal options volume.
Here’s what’s on tap for tomorrow and the rest of the week:
Key Earnings:
27 Oct 2016- AET, ALXN, AMT, APD, BMY, BOFI, BWA, BX, CAB, CELG, CL, CLF, CME, COP, DB, DOW, DPS, F, GNC, HACA, IP, LAZ, LLL, MJN, MO, MPC, NOK, NOV, PENN, POT, PX, SIRI, SWK, TMO, TPH, TPX, TROW, UPS, VW, WWE, AIG, AMZN, BIDU, CA, CBI, CRUS, CY, DLR, ELLI, EXPE, FLEX, FTNT, GOOGL, HIG, MCK, PFG, STRZA, SYK, SYNA, TWTR
28 Oct 2016- ABBV, AN, CVX, CBOE, HSY, MA, NWL, PSX, SNY, SHPG, TEN, WY, XOM, XRX, SIMO
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