Boeing Continues to Pressure Dow
Newly downgraded Facebook is keeping Nasdaq gains in check
The Dow Jones Industrial Average (DJI) is once again feeling pressure from Boeing (BA), which is down on reports of a Department of Transportation probe into the company's grounded 737 MAX 8 planes. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) arefloating just above breakeven, paring earlier gains as Facebook (FB) dips on a downgrade. Investors continue to look ahead to this week's two-day Fed meeting, with the central bank expected to echo its vow to be "patient" with rate hikes.
Continue reading for more on today's market, including:
2 drug stocks trying to double today.Why this downgraded Apple supplier is swimming in red ink.Plus, the beauty stock seeing unusual volume; and 2 stocks trading at either end of the NYSE.
Beauty name Coty Inc (NYSE:COTY) is sporting unusual options volume today, after the company's board recommended JAB Holding Company's plan to boost its stake. So far, 113,000 calls and 110,000 puts have crossed the tape -- 10 times the expected pace. The May 15 call and put are most active, with more than 65,000 contracts already traded at each strike. COTY is up 2.8% at $11.75.
Despite issuing weak guidance late last week, retailer Tilly's Inc (NYSE:TLYS) is one of the top stocks on the New York Stock Exchange (NYSE) today, last seen 6.5% higher at $12.16.TLYS' recent pullbacks have been contained by the 50-day moving average and the $11.50 area -- where the equity landed after a bull gap in early February.
One of the worst performers on the NYSE today is Lumber Liquidators Holdings Inc (NYSE:LL), after the company announced the resignation of its CFO, and reported weaker-than-expected fourth-quarter revenue. LL is down 11.8% at $9.01, at last check, fresh off a decade low of $8.81.