Midway through trading Monday, the Dow traded down 0.05
percent to 16,484.51 while the NASDAQ surged 0.28 percent to
4,365.01. The S&P also rose, gaining 0.08 percent to
Leading and Lagging Sectors
On Monday, the cyclical consumer goods & services sector
proved to be a source of strength for the market. Leading the
sector was strength from Trex Co (NYSE:
) and Sky-mobi (NASDAQ:
In trading on Monday, utilities shares were relative laggards,
down on the day by about 1.28 percent. Top decliners in the
sector included American Electric Power Co (NYSE:
), down 3 percent, and Black Hills (NYSE:
), off 3.5 percent.
Michael Kors Holdings (NYSE:
fiscal first-quarter results and raised its outlook for the
The company posted quarterly earnings of $187.7 million, or
$0.91 per share, compared to $125 million, or $0.61 per share, in
the year-ago period.
Its net revenue climbed 44% to $887 million, while total
revenue jumped 43% to $919.2 million. nalysts were projecting
earnings of $0.81 per share on sales of $852.45 million.
Equities Trading UP
Tower Semiconductor (NASDAQ:
) shares shot up 6.98 percent to $11.03 after the company
second-quarter net profit.
Shares of Trex Co (NYSE:
) got a boost, shooting up 11.37 percent to $31.93 after the
company reported upbeat Q2 earnings and issued a strong Q3 sales
Mobileye NV (NYSE:
) shares were also up, gaining 4.59 percent to $38.70 after
jumping 48% on Friday.
Equities Trading DOWN
Shares of Insmed (NASDAQ:
) were down 23.94 percent to $13.12 after the company reported
that it will file a Marketing Authorization Application in Europe
for Arikayce by the end of 2014. The company also announced that
it will start its Phase 3 study.
) shares tumbled 13.45 percent to $34.58 after the company
Impax Laboratories (NASDAQ:
) was down, falling 3.94 percent to $22.70 after the company
reported that the FDA has performed inspection of its Hayward
In commodity news,
oil traded up 0.08 percent
to $97.96, while gold traded down 0.46 percent to $1,288.90.
Silver traded down 0.67 percent Monday to $20.24, while copper
rose 0.95 percent to $3.25.
today. The eurozone's STOXX 600 fell 0.23 percent, the Spanish
Ibex Index dropped 0.17 percent, while Italy's FTSE MIB Index
climbed 0.09 percent. Meanwhile, the German DAX declined 0.50
percent and the French CAC 40 jumped 0.47 percent while UK shares
surged 0.06 percent.
The Treasury is set to auction 3-month and 6-month bills.
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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