The Dow is down triple digits
Stocks are mixed midday, as investors monitor developments between Russia and Ukraine. The U.S. Federal Reserve's next step regarding monetary policy -- especially as bond yields climb -- remains a hot topic on Wall Street as well. The Dow Jones Industrial Average (DJI) is down over 200 points at last check, while the S&P 500 Index (SPX) lingers just below breakeven, and the Nasdaq Composite (IXIC) manages a solid gain. Meanwhile, the Cboe Volatility Index (VIX) is eyeing its third-straight win and highest close since Jan. 27.
Continue reading for more on today's market, including:
- Why Splunk stock is surging today.
- The chip stock dinged by a downgrade.
- Plus, BDSI climbing to pre-pandemic levels; CNR boosted by buyout buzz; and WEBR nears penny-stock territory.
BioDelivery Sciences International Inc (NASDAQ:BDSI) is seeing a surge in options activity, after news that Collegium will acquire the pharmaceutical name in an all-cash deal valued at $604 million. Options volume is pacing for the top percentile of its annual range, with the September 6 call seeing the most activity, where new positions are being bought to open. At last check, BDSI was up 52.2% to trade at $5.54, its highest level since the start of the pandemic.
One stock climbing on the New York Stock Exchange (NYSE) today is Cornerstone Building Brands Inc (NYSE:CNR), up 24.3% to trade at $22.88 to trade at its highest level in over three years. The company announced that private equity group Clayton, Dubilier & Rice (CD&R), which currently owns 49% of CNR's common stock, offered to buy the rest for $24.65 per share in cash. Year-over-year, the equity is up 93%, breaking past previous congestion at the $19 area.
Meanwhile, Weber Inc (NYSE:WEBR) is plummeting, down 16.1% at $8.75, and earlier hitting a record low of $8.56. The outdoor cooking company reported wider-than-expected fiscal first-quarter losses of 19 cents per share, as well as lower-than-expected revenue. Year-to-date, the stock, which has been publicly traded since this past August, is down 31.7%.