The Dow Jones Industrial Average (DJI) and Nasdaq Composite (IXIC) boast triple-digit midday leads, as investor panic over interest rates cools off after yesterday’s Federal Reserve meeting. The S&P 500 Index (SPX) is higher as well, with traders at ease after Fed Chair Jerome Powell noted interest rate hikes are unlikely. Higher-than-expected labor costs for the first quarter — a signal that inflation is still hot — may keep today’s gains in check, though.
Qualcomm Inc (Nasdaq: QCOM) yesterday reported fiscal second-quarter earnings and revenue that surpassed estimates, prompting no fewer than 13 price-target hikes, including one from Bernstein to $220 from $200. Options traders are chiming as well, with 76,000 calls and 40,000 puts across the tape, or nine times the volume typically seen at this point. The weekly 5/3 180-strike call is most popular, with new positions being bought to open. The equity is up 8.8% to trade at $178.60, earlier hit a record high of $181.69, and sports a 59.3% year-over-year lead.Aspen Aerogels Inc (NYSE: ASPN) is one of the best stocks on the New York Stock Exchange (NYSE) at last check, up 48.1% to trade at $22.57 after the company beat top- and bottom-line expectations for the first quarter and lifted its annual outlook. The stock bounced off the 100-day moving average, broke through a ceiling at $100, and now sports a 254.6% year-over-year lead.
Vestis Corp (NYSE: VSTS) stock is the worst stock on the NYSE, down 48% to trade at a record low of $9.60 at last check. The company missed fiscal second-quarter earningsexpectations and also updated its full-year outlook. The equity failed to overtake the $20 region multiple times this year and currently carries a hefty 52.6% year-to-date deficit.More By This Author:Stocks Limp Into May With First Monthly Loss Of 2024 Stocks Drift Lower as Earnings, Economic Data WeighStocks Rise As ‘Fear Gauge’ Cools Off
