Healthcare stocks are in focus amid a big industry conference and M&A news
The Dow Jones Industrial Average (DJI) is moving cautiously higher today, as stocks look to extend Friday's Fed-led rally. U.S.-China trade relations are still in the spotlight, as leaders meet this week to discuss a possible agreement. FAANG stocks Netflix (NFLX) and Amazon (AMZN) are among the notable gainers today, with the former higher after a strong Golden Globes showing, and the latter celebrating upbeat analyst attention. Several healthcare stocks are also in focus, amid the J.P. Morgan Healthcare Conference and following another big pharma merger.
Continue reading for more on today's market, including:
- The penny stock that's doubled today.
- The streaming service getting slammed with bear notes.
- Plus, ROKU attracts option bulls; a big software merger; and PG&E suffers another bear gap.
Roku Inc (NASDAQ:ROKU) stock is seeing some action in the options arena, after the streaming service issued well-receive estimates for active fourth-quarter accounts. ROKU has seen roughly 46,000 calls change hands so far today – six times the average intraday pace. Puts are seeing only a fraction of the call options' activity, but are still trading at four times the average clip -- with roughly 17,000 traded so far. Attracting the most attention is the weekly 1/11 40-strike call, with buyers expecting ROKU to extend its run atop the $40 level this week. At last check, Roku shares were up 20.2% at $40.53.
Luxoft Holding Inc (NYSE:LXFT) is far and away the best performer on the New York Stock Exchange (NYSE) today, after the software concern agreed to be bought by DXC Technology (DXC) for about $2 billion. LXFT stock was last seen 81% higher to trade at $57.41, just below the per-share bid price of $59.
PG&E Corporation (NYSE:PCG) is one of the worst stocks on the NYSE today, on concerns over a potential bankruptcy stemming from last year's deadly California wildfires. PCG has suffered dramatically amid fears about its role in the wildfires, and today has come within striking distance of its Nov. 15 low of $17.26. At last check, PCG is down 22.4% to trade at $18.93.
