Dow Rockets to Record Highs After Earnings
The Dow Jones Industrial Average (DJIA)is trading higher this afternoon, comfortably north of the 23,000 mark and in record-high territory, thanks to another round of impressive blue-chip earnings. Specifically, IBM Stock is driving the Dow higher after earnings, and the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also fresh off record highs, though the latter has since dipped into the red.
Continue reading for more on today's market, including:
The pharma stock hitting 15-year highs.BTIG: We "were wrong" on this social media stock.Plus, Groupon's unusual options volume; Anthem's new deal; and Synchronoss' $1B sale.
Among the stocks with unusual options volume is coupon concern Groupon (NASDAQ:GRPN), with about 2,500 options traded -- 1.5 times the average intraday norm, and pacing for the 77th percentile of its annual range.Trade-Alert is pointing to possible buy-to-open activity at the January 4 call, with GRPN stock last seen 2.2% higher at $5.06, after a price-target hike to $6.30 from $5.50 at B. Riley.
One of the biggest gainers on the New York Stock Exchange (NYSE) is healthcare provider Anthem Inc (NYSE:ANTM). The shares of ANTM are soaring after the company announced a five-year pharmacy agreement with CVS Health (CVS), which could save Anthem up to $4 billion starting in 2021. Shares of the healthcare provider were last seen up over 4% at $195.13, and earlier touched a fresh intraday record high of $199.23.
One of the worst stocks on the Nasdaq today is ITconcern Synchronoss Technologies, Inc. (NASDAQ:SNCR), with the shares 12% lower to trade at $11.69, extending yesterday's slide after the company announced plans to sellits Intralinks Holding unit to private equity firm Siris Capital Partners -- a former SNCR suitor -- for about $1 billion. SNCR stock has now fallen 69% year-to-date, and a whopping 77% since its November high of $49.94.
