Companhia Paranaense Leads Energy Sector; Peabody Drops Over 14%

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Entering into the final of trading on Monday, the Dow traded down 0.37 percent to 17,005.91 while the NASDAQ tumbled 0.84 percent to 4,448.22. The S&P also fell, dropping 0.49 percent to 1,975.48.

Leading and Lagging Sectors

In trading on Monday, utilities shares were relative leaders, up on the day by about 0.18 percent. Top gainers in the sector included Companhia Paranaense de Energia (NYSE: ELP ), up 2.54 percent, and Entergy (NYSE: ETR ), up 0.81 percent.

Energy shares fell around 0.95 percent in Monday's trading. Top losers in the sector included Goodrich Petroleum (NYSE: GDP ), down 8.39 percent, and Tidewater (NYSE: TDW ), off 4.81 percent.

Top Headline

Archer Daniels Midland (NYSE: ADM ) announced its plans to buy food flavoring company Wild Flavors for 2.2 billion euros ($3 billion) in cash.

The company will also assume around 0.1 billion euros in net debt. The deal is projected to complete by the end of the year.

Equities Trading UP

BioDelivery Sciences International (NASDAQ: BDSI ) shares shot up 9.17 percent to $13.09 on positive top-line Phase III results.

Shares of Kandi Technolgies Group (NASDAQ: KNDI ) got a boost, shooting up 6.36 percent to $14.89 after the company announced a subsidy of $31.8 million for sales of more than 3,000 electric vehicles between June and December of 2013.

Silicon Motion Technology (NASDAQ: SIMO ) shares were also up, gaining 0.37 percent to $21.57 after the company raised its Q2 revenue forecast. The Company is expected to release its full Q2 results on July 28, 2014.

Equities Trading DOWN

Shares of GT Advanced Technologies (NASDAQ: GTAT ) were down 13.81 percent to $16.85 after UBS downgraded the stock from Buy to Hold.

Peabody Energy (NYSE: BTU ) shares tumbled 14.07 percent to $16.80 after Deutsche Bank downgraded the stock from Buy to Hold and lowered the price target from $23.00 to $19.00.

NQ Mobile (NYSE: NQ ) shares declined 1.31 percent to $4.63 after tumbling 32.25% on Thursday.

Commodities

In commodity news, oil traded down 0.68 percent to $103.35, while gold traded down 0.17 percent to $1,318.30.

Silver traded down 0.51 percent Monday to $21.03, while copper fell 0.61 percent to $3.26.

Eurozone

European shares were lower today.

The eurozone's STOXX 600 fell 0.87 percent, the Spanish IBEX Index dropped 1.10 percent, while Italy's FTSE MIB Index declined 1.33 percent.

Meanwhile, the German DAX slipped 1.03 percent and the French CAC 40 fell 1.41 percent while UK shares tumbled 0.62 percent.

Economics

The Treasury is set to auction 3-and 6-month bills.

© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Commodities , Economy , Futures

Referenced Stocks: BDSI , KNDI , SIMO , ADM , BTU

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