The Fed's two-day policy meeting is officially underway
Stocks are a mixed bag this afternoon, following the start of the Federal Reserve's two-day policy meeting. At last glance, the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) are both muted. Meanwhile, the tech-heavy Nasdaq Composite (IXIC) is more substantially in the red, as investors await earnings from some of the tech sector's heaviest hitters.
Continue reading for more on today's market, including:
- Behind this streaming stock's upgrade.
- Energy drink stock with an attractive entry point.
- Plus, TEVA's pre-earnings bull notes; NEXI extends run higher; and Malibu Boats' earnings results.
Teva Pharmaceutical Industries Ltc (NYS:TEVA) is seeing a surge in call activity today, after BofA Global Research and Barclays raised their price targets to $15 ahead of the company's earnings report. So far, 38,000 calls have traded hands, volume that's four times the average intraday amount. Most active is the February 12 call, though new positions are being opened at the weekly 2/2 12-strike call. TEVA is brushing off the bull notes, however, down 1.7% at $11.72 at last glance, but it remains up 11.8% in 2024 after hitting a Jan. 24, nearly three-year high of $12.21.
Nextimmune Inc (NASDAQ:NEXI) stock is up 170.2% to trade at $25.13, looking to extend its winning streak to three days as it stands at the top of the Nasdaq. Yesterday, NEXI added 73.8% following news that it expects its existing cash and cash equivalents to meet anticipated requirements through mid-February. Already in 2024, the stock is up more than 968%.
Malibu Boats Inc (NASDAQ:MBUU) stock is near the bottom of Nasdaq this afternoon, after the company's fiscal second-quarter revenue fell wide of Wall Street's expectations. Last seen down 16.3% at $42.71, MBUU sports a nearly 25% year-over-year deficit.