Dow, S&P Go Negative on the Year as Apple Drops Again
Retail and tech stocks are driving today's downside
The Dow Jones Industrial Average (DJI) picked up right where it left off on Monday, down 400 points at last check -- bringing its week-to-date loss beyond 3%. All 30 Dow stocks are trading in negative territory, led by another sharp sell-off for Apple (AAPL). These tech sector headwinds are being exacerbated by a round of disappointing retail earnings. As such, the Nasdaq Composite (IXIC) and S&P 500 Index (SPX) are firmly in the red at midday, with the Dow and S&P slipping below their 2018 breakeven marks in intraday action.
Continue reading for more on today's market, including:
Why Needham says this healthcare stock can double.Founder and CEO Bernie Schaeffer explains how Brexit uncertainty could put this U.K. ETF into a bear market.Plus, LB traders target bigger losses; Campbell Soup swings higher after earnings; and Seadrill sinks to the bottom of the Big Board.
L Brands Inc (NYSE:LB) is seeing unusual options activity today, with roughly 14,300 puts on the tape so far -- 12 times what's typically seen at this point, and nearly triple the number of calls traded. Buy-to-open activity is detected at LB's weekly 11/23 28.50-strike put, which expires at this Friday's 1 p.m. ET close. LB stock is down 14.5% at $29.54, after the retailer halved its full-year forecast and announced a CEO shift at struggling Victoria's Secret.
Campbell Soup Company (NYSE:CPB) is one of the best stocks on the New York Stock Exchange (NYSE) today, after the green bean casserole guru reported fiscal first-quarter adjusted profit and revenue beats. CPB stock is up 5.7% to trade at $40.64, set to snap its four-day losing streak.
Seadrill Ltd (NYSE:SDRL) is trading near the bottom of the NYSE today, with the shares of the rig operator sinking in step with oil prices. SDRL stock was last seen down 11.3% at $14.58 -- fresh off a record low of $14.34 -- while January-dated crude futures have plummeted 4.5% to trade at $54.61 per barrel.