Stocks are scattered midday, with Wall Street unable to build any momentum from December's cooler than expected producer price index (PPI). Traders now turn their attention to the consumer price index (CPI) reading for December due out tomorrow. In response, the Dow Jones Industrial Average (DJI) is marginally higher but has pared a triple digit gain. The Nasdaq Composite Index (IXIC) and S&P 500 Index (SPX) have both retreated back below breakeven, the tech-heavy former heading for a fifth-straight loss.

Options traders are closely watching Applied Digital Corp (Nasdaq: APLD), after Macquarie announced a $5 billion investment in the company's artificial intelligence (AI) data centers. So far, more than 48,000 calls and 24,000 puts have crossed the tape, volume that is six times the average intraday amount. APLD was last seen up 16% at $9.01, poised to snap a four-day skid. The security has tacked on nearly 32% over the last six months and already boasts a 17.5% year-to-date lead.

One of the best stocks on the Nasdaq today is H&E Equipment Services, Inc. (Nasdaq: HEES), last seen up 105.8% to trade at $90.40. This massive swing higher comes after the rental equipment company announced its acquisition by United Rentals (URI) for $92 per share in cash. Earlier hitting a record high of $90.66, HEES is now up 86.2% over the last 12 months.

Shares of GeneDx Holdings Corp (Nasdaq: WGS) are 10.7% lower at $75.90 at last glance, underperforming the Nasdaq. The stock is on track for its fourth-straight loss even after the genomics company yesterday shared preliminary 2024 financial results, including full-year revenue outlook that exceeded expectations. Over the last 12 months, WGS has added nearly 2,000%.

More By This Author:

S&P 500 Bounces Back As Traders Offload Tech
Nasdaq, S&P 500 Fall As Bond Yields Pressure Tech Stocks
Dow Sheds 696 Points As Interest Rate Cut Hopes Dwindle