Anxieties over the spread of the coronavirus from Italy to the U.S. are high
The Dow Jones Industrial Average (DJI) this morning was on pace to recoup some of its massive 1,031-point sell-off on Monday, but has since turned lower around midday, brushing off a post-earnings pop from Home Depot (HD). Despite this rebound attempt, coronavirus anxiety is still high, with investors fretting over a possible spread in the outbreak from Italy to the U.S. Now, the blue-chip index is eyeing a triple-digit loss at the midway mark. The Nasdaq Composite (IXIC) and the S&P 500 Index (SPX) have also pared this morning's gains, with notable losses of their own.
Continue reading for more on today's market, including:
- Behind Mastercard's dismal coronavirus predictions.
- Why General Electric stock is in focus today.
- Plus, options bulls bank on Yelp stock; VVPR posts growth in H2; and TUP stock falls out after earnings.
There's an unusual amount of bullish activity surrounding Yelp Inc (NYSE:YELP) amid a report that the online review company more than doubled the growth of diners seated in 2019, thanks to its Waitlist product. So far, 22,000 calls have crossed the tape, compared to just 394 puts. Most popular is the March 36 call, followed by the 35 call in the same series, with positions being opened at both. At last check, YELP is up 3.5% at $33.54.
VivoPower International PLC (NASDAQ:VVPR) is one of the best performers on the Nasdaq today after announcing $31.4 million in revenue for the second half of 2019 -- up 63% since this time last year. The solar power concern is now up 64.4% at $1.96, toppling recent pressure at its 200-day moving average, and eyeing its highest close in over seven months.
Disappointing preliminary full-year results have Tupperware Brands Corporation (NYSE:TUP) during today's trading. The equity is one of the worst on the New York Stock Exchange after the firm posted preliminary 2019 earnings per share of $1.35 to $1.70, which missed estimates. Tupperware blamed core market weakness, but added that full-year sales are expected to line up with its previously provided forecast. The stock is now trading at its lowest point on record, breaching a recent floor near the $5.50 region. At last check, TUP is down 40.2% to trade at $3.43