The S&P 500 is also eyeing solid gains
Stocks are higher today, as traders brush off rising inflation numbers and look toward the upcoming earnings season. Expectations for the latest batch of corporate earnings have been stymied by rising commodity costs, the pandemic, and the ongoing war in Ukraine. Still, following this morning's round of results, the Dow Jones Industrial Average (DJI) is 186 points higher, the Nasdaq Composite (IXIC) boasts its own triple-digit pop, and the S&P 500 Index (SPX) sits firmly in the black.
Continue reading for more on today's market, including:
- Which PayPal executive is taking their talents to Walmart.
- Buyout buzz sends Sierra Oncology stock toward 3-year high.
- Plus, airliner's calls pop on soaring travel demand; activist investor eyes Gap stock; and Infosys pledges to leave Russia.
JetBlue Airways Corporation (NASDAQ:JBLU) is seeing an uptick in bullish options activity today. At last check, more than 36,000 calls have crossed the tape, which is seven times the amount typically seen at this point. The May 15 call is the most popular, followed by the 14 call from the same monthly series. JetBlue stock was last seen up 2.9% to trade at $12.52, just days after a recent buyout bid, and is seeing headwinds alongside the entire airline sector as travel demand ramps up. JBLU is still facing pressure from every notable trendline on the charts, and sits nearly 40% lower in the last 12 months. However, the equity is on track to log its third-straight daily win.
One of the best performers on the New York Stock Exchange (NYSE) so far today is Gap Inc (NYSE:GPS). Gap stock was last seen up 12% to trade at $14.94, following rumors that an activist investor is interested in the apparel retailer. GPS has so far had a lackluster 2022, shedding nearly 14% year-to-date. A late-November bear gap saw the shares fall below $19 for the first time since October 2020. In the last 12 months, the equity is down 52.8%.
Infosys Ltd ADR (NYSE:INFY) announced plans to move operations out of Russia, which is putting pressure on the shares and making it one of the NYSE's worst performers so far today. Infosys stock was last seen down 6.2% at $21.17, and the stock is pacing for its first close below the 320-day moving average since August 2020. Thanks in part to the recent pullback, INFY is off 15.4% year-to-date.
