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
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:
), up 2.54 percent, and Entergy (NYSE:
), up 0.81 percent.
Energy shares fell around 0.95 percent in Monday's trading.
Top losers in the sector included Goodrich Petroleum (NYSE:
), down 8.39 percent, and Tidewater (NYSE:
), off 4.81 percent.
Archer Daniels Midland (NYSE:
) 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
Equities Trading UP
BioDelivery Sciences International (NASDAQ:
) shares shot up 9.17 percent to $13.09 on positive top-line
Phase III results.
Shares of Kandi Technolgies Group (NASDAQ:
) 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
Silicon Motion Technology (NASDAQ:
) 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:
) were down 13.81 percent to $16.85 after
the stock from Buy to Hold.
Peabody Energy (NYSE:
) 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:
) shares declined 1.31 percent to $4.63 after tumbling 32.25% on
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.
The eurozone's STOXX 600 fell 0.87 percent, the Spanish IBEX
Index dropped 1.10 percent, while Italy's FTSE MIB Index declined
Meanwhile, the German DAX slipped 1.03 percent and the French
CAC 40 fell 1.41 percent while UK shares tumbled 0.62
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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