Monthly Losses In Sight For Major Indexes

The Dow Jones Industrial Average (DJI) is down 81 points this afternoon, looking to deepen its monthly and year-to-date deficits as February comes to a close. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are both sporting modest gains and are still up in 2023, though they are eyeing monthly losses as well. Rising bond yields are weighing on sentiment, with the 10-year U.S. Treasury yield earlier surging to its highest level in over three months.

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Options bulls are targeting Cano Health Inc (NYSE: CANO) ahead of its fourth-quarter report, due out after the close tomorrow, Mar. 1, for which analysts expects losses of 13 cents per share. So far, 126,000 calls have been traded -- 30 times the intraday average amount -- in comparison to just 255 puts. The April 2 call is the most active contract. At last glance, CANO was up 5.9% to trade at $1.70 but still carried a 65.5% year-over-year deficit.

SI-Bone Inc (Nasdaq: SIBNstock is soaring, up 23.2% at $20.87, after its narrower-than-expected fourth-quarter losses and revenue beat. No fewer than five analysts lifted their price targets in response, including Truist Securities to $26 from $21. Earlier hitting its highest level since April, SIBN is up 53.6% year-to-date. 

Adapthealth Corp (Nasdaq: AHCO) is down 27% at $16.03 at last glance, after its dismal fourth-quarter report missed bottom- and top-line estimates. The company also issued a lower-than-expected 2023 forecast, and Jefferies slashed its price target to $27 from $35. On the short sale restricted (SSR) list amid the negative price action, AHCO is down 6.9% year-over-year. Now below its 200-day moving average, the stock earlier hit its lowest level since May. 

AHCO SINCE MARCH 2022


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