Dow Down Slightly Ahead of Fed Minutes
The FOMC meeting minutes will be released later today
The Dow Jones Industrial Average (DJI) has traded on both sides of breakeven today, but was last seen lower, as traders await the Fed's March meeting minutes. The S&P 500 Index (SPX) and Nasdaq Composite(IXIC), on the other hand, are both in the black at midday, as investors cheer strong first-quarter earnings and guidance from Delta Air Lines (DAL), as well as a rally in chip stocks. Financial stocks also remain in focus, with several CEOs on Capitol Hill ahead of a round of big bank earnings.
Continue reading for more on today's market, including:
The pot stock higher on expansion plans. The upgraded retail stock ready to rocket higher, if past is prologue. Plus, MRVL options light up; Safe-T announces a big acquisition; and Calix lowers its first-quarter forecast.
Marvell Technology Group Ltd (NASDAQ:MRVL) is seeing unusual options volume today, with roughly 6,033 puts traded -- four times the average intraday volume. The May 17 put is the most popular, with a block of 4,500 contracts traded earlier. On the flip side, one trader is likely rolling up April 20.50 calls to the weekly 5/3 22.50-strike call, per Trade-Alert. MRVL stock is up 1.8% at $22.11, at last glance.
Israel-based software company Safe-T Group Ltd (NASDAQ:SFET) is among the top performers on the Nasdaq today, continuing its recent rally on plans to purchase network solutions name NetNut Ltd. The shares are up 19.7% at $3.14, at last check, and are pacing for their third straight win.
One of the worst stocks on the New York Stock Exchange (NYSE) is Calix Inc (NYSE:CALX). The cloud-based software concern is down 11.9% at $6.96, at last glance, after lowering its first-quarter revenue forecast.The shares just touched seven-month lows, and are set to finish below their 320-day moving average, which has acted as a floor for CALX, of late.
