All three major benchmarks are firmly higher today
Stocks are firmly higher midday, as investors unpack a flood of corporate earnings and await Nvidia's (NVDA) "make or break" report, due out after the close. The Dow Jones Industrial Average (DJI) and Nasdaq Composite Index (IXIC) are both up triple digits, the latter looking to snap a four-day losing streak alongside the S&P 500 Index (SPX). Also of note, new home sales dropped a sharp 10.5% in January, coming in at a seasonally adjusted annual rate of 657,000 units.
Continue reading for more on today's market, including:
- 3 auto stocks in the spotlight today.
- Another home retailer posts upbeat earnings.
- Plus, options traders target LCID; SMCI surges on delayed filing; and XPEL plummets after quarterly report.
Lucid Group Inc (NASDAQ:LCID) is down 13% at $2.27 at last look, after the unexpected departure of CEO Peter Rawlinson. The company also expects production to double in 2025 to 20,000 units. Options traders are targeting LCID after the news, with 59,000 calls and 124,000 puts exchanged so far -- already 2.8 times the stock's average daily options volume. The January 2026 2-strike put is the most popular, with new positions opening at the July 2 put. Since the start of the year, LCID is down 24.7%.
Computer hardware name Super Micro Computer Inc (NASDAQ:SMCI) is up 21.4% at $55.30 at last glance, after the semiconductor company submitted its delayed 10-K filing results, which met Securities and Exchange Commission (SEC) requirements. Looking to snap a four-day losing streak, SMCI is up 77.7% year to date with help from this month's rally.
Xpel Inc (NASDAQ:XPEL) stock is down 15.3% at $34.16 at last check, after the auto parts name announced a fourth-quarter earnings miss, though revenue beat estimates. Gapping to its lowest levels since August, the shares are down 35.1% year over year.