Dow Pushes Higher, Eyes Monthly Win
Apple shares are gaining a day before earnings
The Dow Jones Industrial Average (DJI) is trading higher this afternoon, as Wall Street reacts to a raft of M&A and earnings news. McDonald's (MCD) is still the best performing blue chip today, though Apple (AAPL) stock is also rallying ahead of the iPhone maker's earnings release tomorrow. This morning's inflation data is being heavily scrutinized, as well, with the Fed set to unveil its latest policy decision on Wednesday. As such, the Dow, Nasdaq Composite (IXIC), and S&P 500 Index (SPX) are pacing for monthly wins -- though the latter two are on track for daily losses.
Continue reading for more on today's market, including:
Sprint, T-Mobile stocks react to merger news. Call buyers should consider this software stock. Plus, options bulls blaze a path to one RV maker; New York Times makes a huge move; and a sinking e-commerce stock.
One name seeing unusual options trading today is RV seller Camping World Holdings Inc (NYSE:CWH). With earnings due out next Tuesday, May 8, it appears traders are buying the May 30 call to bet on a breakout, with roughly 3,500 contracts on the tape. For reference, the total average daily call volume for CWH is just 729. The stock was last seen trading up 4.4% at $29.41, following a whopping 9-cent price-target hike to $52 at Credit Suisse. Still, the shares have shed more than 34% year-to-date.
One notable winner on the New York Stock Exchange (NYSE) is New York Times Co (NYSE:NYT), thanks to a notable upgrade from J.P. Morgan Securities. NYT stock was last seeing trading up 5.6% at $23.45, hurdling past recent resistance at its 20-day moving average. The 50-day trendline still looms overhead, however.
Online furniture retailer Wayfair Inc (NYSE:W) is a NYSE loser today, as a result of a big pre-earnings bear note. The shares have shed 8.2% to trade at $61.17, giving up a foothold atop the long-term 320-day moving average. In just the past three months, Wayfair has lost more than one-third of its value.