The Nasdaq Composite (IXIC) and S&P 500 Index (SPX) are higher this afternoon, as investors brush off AI valuation concerns and tech stocks attempt to recover. A better-than-expected ADP private payrolls report is driving much of this optimism, though the Dow Jones Industrial Average (DJI) is still near breakeven. Also in focus is the Supreme Court's tariff hearing to determine whether President Donald Trump had the authority to impose duties on foreign nations.

Teva Pharmaceutical Industries Ltd(NYSE: TEVA) stock is seeing unusual options activity today, with 46,000 calls and 7,419 puts exchanged so far today, which is 8 times the volume typically seen at this point. The most active contract is the December 20 call. TEVA is up 17.8% to trade at $24.11 at last check, after the pharma giant posted a third-quarter profit win for the first time this year, beat revenue expectations, and hiked its full-year outlook. The equity earlier hit a roughly seven-year high of $24.90 and is on track for its best day since December, while sporting a 51% three-month lead.

Seagate Technology Holdings PLC(Nasdaq: STX) is one of the best stocks on the SPX today, last seen up 11% at $277.82. The tech name earlier announced a $500 million exchange of senior notes for cash and shares. STX boasts a massive 219.5% lead for 2025, and is within striking distance of its Oct. 31, record peak of $280.35, following a bounce of long-term support at the 40-day moving average.

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Meanwhile, Humana Inc (NYSE: HUM) stock is near the bottom of the SPX, down 7.1% to trade at $262.04 at last glance. Thesecurity is seeing a bear gap after the company lowered its full-year outlook, despite a third-quarter earnings beat. HUM fell 10.8% in the last nine months, and earlier hit its lowest level in a month after another failed attempt to conquer the $300 level.

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