Tech Sector Surge Continues As Dow Swims In Red Ink
Google's antitrust case win is pushing the tech sector higher today, with the results also favoring Apple (AAPL), which is embroiled in its own antitrust lawsuit. The tech-heavy Nasdaq Composite (IXIC) is up 229 points, while the S&P 500 Index (SPX) remains modestly higher as well. The Dow Jones Industrial Average (DJI) is sitting out the wave, last seen nursing a 117-point deficit and heading for its third-straight loss.
Under Armour Inc (NYSE: UAA) stock is seeing plenty of bearish options activity today, with 10,000 puts across the tape so far, 11 times the average daily volume. The most active contract is the April 5-strike put, where options are being sold to open. The athleticwear retailer has failed to recover from its steep, Aug. 8, post-earnings bear gap of 18.1%, off nearly 40% in 2025 and year over year. At last glance, UAA was trading 3.7% higher at $228.15.
Online chat forum Reddit Inc (NYSE: RDDT) is one of the top stocks on the New York Stock Exchange (NYSE) today, though the catalyst for the boost remains unclear. Last seen up 4.7% at $230.50, the equity's early-morning surge was capped by the $240 mark. Over the past 12 months, RDDT has jumped an impressive 296%, the shares tapping a record peak of $253.14 on Aug. 18.
ConocoPhillips (NYSE: COP) is one of the worst stocks on the NYSE today, last seen down 3.8% to trade at $95.19, after the oil name said it will slash its workforce 20-25% by the end of the year. The stock has been choppy on the charts of late, sliding further below its year-to-date breakeven mark amid today's drop. Support at the 50-day moving average is keeping losses in check, however.
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