Stocks closed sharply higher Monday, carried by easing
geo-political pressures between Russian and Ukraine. Equilities
also found support from bullish housing data and the start of a
potential bidding war for Family Dollar (
) by Dollar General (
), which upstaged an earlier $9.2 billion offer for discount
retailer by Dollar Tree (
). Nine of the 10 industry sectors in the S&P 500 finished
higher, led by shares of financial companies, while utility stocks
were the loan decliners as investors sought out riskier assets.
In economic news, the National Association of Home Builders said
its housing market index rose to a 55.0 reading in August, beating
expectations to remain unchanged from last months's 53.0 score.
September crude oil fell 88 cents to $97.31 per barrel while
September natural gas added 2 cents to settle at $3.79 per 1
million BTU. December gold declined $7.40 to $1,299.20 per ounce
while September silver rose 12 cents to $19.64 per ounce. September
copper climbed a penny to $3.11 per pound.
Here's where the U.S. market stand at mid-day:
Dow Jones Industrial Average up 175.83 (+1.06%) to 16,838.74
S&P 500 up 16.67 ( +0.85%) to 1,971.73
Nasdaq Composite Index up 43.39 (+0.97%) to 4,508.31
Hang Seng Index unchanged
Shanghai China Composite Index up 0.57%
FTSE 100 Index up 0.78%
(+) JRJC, Launches Securities Master, China's first web-based
trading platform, through a strategic partnership with CITIC
Securities, the country's largest brokerage firm.
(+) MOBI, Reports Q2 earnings of RMB0.28 per share, or $0.04 per
ADS, on 35.9% year-over-year revenue growth to around $27.4 mln.
For the current quarter, the company expects revenue in a range of
$32.6 mln (RMB200 mln) to $34.2 mln (RMB210 mln).
(+) TKMR, Leerink Swan begins coverage of the drug-maker working
on a possible vaccine to treat the ebola virus with an Outperform
rating amd a $25 price target.
(-) FN, Postpones release of Q4, FY14 financial results while
its board audit committee investigates whether they are potential
violations of the company's accounting policies.
(-) MITK, Federal court sides with USAA, agreeing to dismiss
MITK's infringement claims on four patents while allowing legal
fight over contract to proceed next month. Chief Technology Officer
Michael Strange leaves the company to pursue other
(-) NXPI, Cut to Sell from Neutral at Goldman Sachs.
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