All three major indexes are lower midday
This morning's hotter-than-expected CPI data sent the market reeling, after the annual inflation rate rose to 3% and the 12-month core inflation rate rose to 3.3%. Investors are also unpacking plenty of corporate earnings today while eyeing rising bond yields. The Dow Jones Industrial Average (DJI) is down 407 points, while the S&P 500 Index (SPX) and Nasdaq Composite Index (IXIC) sit firmly lower as well.
Continue reading for more on today's market, including:
- Revenue forecast boosts popular AI stock.
- Gilead Sciences stock pops on earnings beat.
- Plus, options traders pick up LYFT; LTBR jumps on nuclear demonstration; and KALA falls on c-suite shakeup.
Options traders are targeting Lyft Inc (NASDAQ:LYFT) after the rideshare name's mixed fourth-quarter results, which included an earnings miss and revenue that beat estimates. The company also issued a disappointing current-quarter bookings outlook and a share buyback plan, and a handful of analysts lowered their price targets after the event. So far, 120,000 calls and 75,000 puts have crossed the tape, which is already 6 times the average daily options volume. The weekly 2/14 13.50-strike call is the most popular, with new positions being bought to open there. At last glance, LYFT was down 5.4% at $13.61, and on the short sell restricted (SSR) list. Familiar support at the $12 level appears to be keeping losses in check, however.
Lightbridge Corp (NASDAQ:LTBR) is one of the top performers on the Nasdaq today, up 24.1% at $13.45 at last glance, after the company accomplished a milestone in nuclear fuel development at Idaho National Laboratory (INL). Moving back up toward its Oct. 29, three-year high of $14.20, LBTR is up 366.2% year over year and 190% since the start of 2025.
Kala Bio Inc (NASDAQ:KALA) is one of the worst performers on the Nasdaq this afternoon, down 32.1% at $7.38 at last look, after the biopharma announced the departure of CEO Mark Iwicki and the appointment of President and Chief Operating Officer, Todd Bazemore, as interim CEO. Falling sharply from its Feb. 10, more than 52-week high of $11.20, KALA is clinging to its 2.4% year-to-date lead.