Stocks Cautiously Higher as Oil Rises; Disney, Walmart Limit Dow Gains
Energy stocks CVX and XOM are some of the Dow's bet performers
Stocks are cautiously higher at midday, with oil prices on the mend following the U.S. decision to withdraw from the Iran nuclear deal. June crude futures have soared 2.7% to $70.90 per barrel, at last check, and energy stocks are lifting the S&P 500 Index (SPX). Likewise, oil giants Chevron (CVX) and Exxon Mobil (XOM) are near the top of the Dow Jones Industrial Average (DJI), though the blue-chip index's gains are being limited by Walmart's (WMT) Flipkart news and poorly received earnings from Walt Disney (DIS).
Continue reading for more on today's market, including:
Analysts: Buy these 2 drug stocks squeezing shorts.The FAANG stock higher on blockchain news.Plus, a cloud stock with unusual call volume; Twilio's latest earnings reaction; and the travel name nearing fresh highs.
One stock sporting unusual options volume today is cloud concern Box Inc (NYSE:BOX). So far, roughly 14,000 calls have traded -- nine times what's typically seen at this point in the day. Seeing the most action are the May 29 and June 30 calls, where more than 5,100 total contracts have been exchanged. This comes just after international communication name Fujitsuannounced that it chose Box for cloud content management. BOX stock is up 2%to $26.99, at last check, and is fresh off a record high of $27.69.
Near the top of the New York Stock Exchange (NYSE) is fellow cloud stock Twilio Inc (NYSE:TWLO), after the company reported better-than-expected first-quarter earnings. The stock also received no fewer than five price-target hikes, with the most notable coming fromDougherty and Northland Capital, to $57. TWLO also soared to a fresh annual high of $52.33, and is up 14% at $50.71, at last check.
At the top of Nasdaq today is online travel planner Tripadvisor Inc (NASDAQ:TRIP), after the company reported first-quarter earnings that exceeded estimates. Cowen and Company raised its price target to $43 from $34 in response, and TRIP gapped to its highest point nearly 12 months. At last check, Tripadvisor stock was up 23% to trade at $47.58 -- a stone's throw from a fresh annual high.
