Stocks Muted As Oil Prices Take A Breather

The Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) are flat this afternoon, shrugging off strong premarket gains. Tensions in the Middle East cooled after Iran said it would not respond to Israel's attack, with oil prices moving lower. Investors are also keeping an eye on Big Tech earnings later this week, as well as the release of the personal consumption expenditures (CPE) price index.

MMC Stats 0422

NRG Energy Inc(NYSE: NRGstock is seeing unusual options activity today, with 7,812 calls and 15,000 puts across the tape so far, which is 12 times the volume typically seen at this point. The two most active contracts are the July 55 and 65 puts, where new positions are being bought to open. Shares are up 0.7% to trade at $70.45, after Guggenheim lifted its price objective to $77 from $63. On track to snap a three-day losing streak, NRG is 35.9% higher in 2024.

Ingevity Corp (NYSE: NGVT) stock was last seen up 9.4% to trade at $48.64, following an upgrade from Jefferies to "buy" from "hold," as well as a price-target hike to $62 from $52. The shares are eyeing their best single-day percentage gain since November 2020, but are also still struggling with a ceiling at the $50 level, which has capped price action since September. NGVT is down 31.7% in the last 12 months.

NGVT Intraday

Informatica Inc (NYSE: INFA) stock is down 9.1% to trade at $31.98, after the Wall Street Journal reported Salesforce (CRM) had backed off of talks to acquire the software company. Shares earlier slipped to their lowest level since February, shedding 20% off their April 12, three-year high of $39.79. INFA still boasts a 102.7% year-over-year lead, though.

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