Cisco Systems and Walmart are limiting the Dow's upside
U.S. stocks are trading modestly higher at midday, with help from rising energy stocks and crude prices. June-dated oil futures were up 0.8% at $72.06 per barrel, at last check, while Brent crude is trading above $80 per barrel. Keeping gains limited for the Dow Jones Industrial Average (DJI), however, are Cisco Systems (CSCO) and Walmart (WMT) stocks, the latter of which has turned lower on concerns about margins. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also making subtle gains.
Continue reading for more on today's market, including:
- The FAANG reveal making waves today.
- Coca-Cola stock was upgraded after lowest close in over a year.
- Plus, Walmart's post-earnings drop; Dillard's same-store sales celebration; and why one children's retailer is swimming in red ink.
Superstore giant Walmart Inc (NYSE:WMT) is attracting unusual options volume today, with roughly 97,000 calls traded so far -- about six times the intraday norm. Seeing the most action are the May 85, 85.50, 87, and June 90 calls. WMT stock was 1.2% lower at $85.08, at last check and down 14% year-to-date, despite reporting first-quarter earnings that beat analyst expectations.
One of the top performers on the New York Stock Exchange (NYSE) is fellow retailer Dillard's, Inc. (NYSE:DDS), after the company reported a rise in same-store sales for the first quarter. DDS stock is 7.1% higher at $77.09, at last check, and is set to close above the 50-day moving average for the first time in a month.
One of the Nasdaq's worst performers today is kid's clothing concern Childrens Place Inc (NASDAQ:PLCE), after the company reported a smaller first-quarter profit than expected. PLCE stock is down 8.3% at $126.60, and could close back below the 200-day moving average.