Stocks are pulling back sharply from their premarket gains, after this morning's consumer confidence reading came in at 98.3 for February. This is well below expectations of 102.3 and a 7-point drop, marking the largest monthly decline since August 2021. The 10-year Treasury yield fell below 4.3% after the event.
The Nasdaq Composite Index (IXIC) is down 323 points midday, with notable member Nvidia (NVDA) sliding ahead of earnings. The S&P 500 Index (SPX) is firmly in the red as well, heading for its fourth-straight loss, while the Dow Jones Industrial Average (DJI) sits flat.
Hims & Hers Health Inc (NYSE: HIMS) is plummeting today, brushing off better-than-expected fourth-quarter results after disappointing gross margins. The company also said it may stop selling weight-loss drugs, which gave Novo Nordisk (NVO) a boost today. So far, HIMS has seen 146,000 calls and 170,000 puts exchanged, which is triple the overall options volume typically seen at this point. The weekly 2/28 44-strike put is the most popular, followed by the 40-strike put in the same series. It's been a volatile month for HIMS, with a fresh record high of $72.98 on Feb. 19. Last seen down 27.2% at $37.37, the stock is still outperforming with a 54% year-to-date lead.
Medical equipment stock AdaptHealth Corp (Nasdaq: AHCO) is up 24.8% at $10.67, nearly erasing all of its sharp February losses, having finished only four days higher since the start of the month. The company posted better-than-expected fourth-quarter results, pushing the stock to a 40.2% year-over-year gain.
Krispy Kreme Inc (Nasdaq: DNUT) is gapping to record lows, down 23.8% at $6.95 at last glance after the company's disappointing fourth-quarter results and weak annual outlook. On the short sell restricted (SSR) list today amid the volatility, DNUT is 45.5% year over year.
More By This Author:
Stocks Struggle Amid Tariff Uncertainty
Stock Rebound Stalls; Nasdaq Down Triple Digits
Dow Logs Worst Day Of 2025 As Investor Sentiment Wanes
Comments
Log in or sign up to join the conversation.