Bank concerns are weighing on the Dow today
The Dow Jones Industrial Average (DJI) dropped sharply since this morning, down 533 points at last check, as regional bank stocks slip. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are firmly lower as well. Investors are eyeing the start of the Fed's two-day policy meeting, as well as U.S. job openings data, which came in at an almost two-year low of 9.59 million.
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Options traders are targeting SoFi Technologies Inc (NASDAQ:SOFI) today, with 183,000 calls and 128,000 puts exchanged so far, which is already 2.8 times the average daily volume. The weekly 5/5 5-strike call is the most active contract, with new positions opening there. SOFI is extending yesterday's post-earnings drop, down 10.6% at $4.89 at last glance, after Wedbush downgraded the stock to "neutral" from "outperform," with a price-target cut to $5 from $8.
VSE Corp (NASDAQ:VSEC) stock is up 17.5% at $50.38 at last check, after the aerospace name's strong first-quarter results. RBC upgraded the stock to "outperform" from "sector perform" with a price-target hike to $55 from $50 after the event. Year-to-date, the equity is up 8.8%. Today's pop has VSEC breaking above its 60-day moving average.
The shares of Lendingtree Inc (NASDAQ:TREE) are down 30.3% at $16.29, earlier hitting a nearly10-year low of $16.02, after the company's current-quarter and full-year profit outlook came in below estimates. The online consumer platform also reported mixed first-quarter results, with revenue missing analyst expectations.