Following the market opening Monday, the Dow traded up 0.62
percent to 17,106.28 while the NASDAQ surged 0.59 percent to
4,565.08. The S&P also rose, gaining 0.56 percent to
Leading and Lagging Sectors
Monday morning, the healthcare sector proved to be a source of
strength for the market. Leading the sector was strength from
) and Infinity Pharmaceuticals (NASDAQ:
In trading on Monday, basic materials shares gained by just
0.10 percent. Meanwhile, top decliners in the sector included
), down 5.7 percent, and Noranda Aluminum Holding (NYSE:
), off 2.1 percent.
Burger King Worldwide (NYSE:
) is in
talks to acquire
Canadian doughnut chain Tim Hortons (NYSE:
A potential deal would create the third-largest fast food
chain in the world. The new company would be headquartered in
Equities Trading UP
) shares shot up 35.78 percent to $73.05 after Roche (OTC:
) announced its plans to acquire InterMune for $74.00 per share
Shares of Burger King Worldwide (NYSE:
) got a boost, shooting up 14.46 percent to $31.03. Burger King
) is in talks to acquire Tim Hortons (NYSE:
Tim Hortons (NYSE:
) shares were also up, gaining 17.97 percent to $74.13 following
the confirmation of merger talks.
Equities Trading DOWN
Shares of Qihoo 360 Technology Co (NYSE:
) were down 7.90 percent to $93.71 after the company reported Q2
results. Qihoo 360 reported Q2 adjusted EPADS of $0.50 on revenue
of $317.90 million.
) shares tumbled 5.49 percent to $47.54 after the company cut its
FY14 earnings forecast.
Leju Holdings (NYSE:
) was down, falling 6.82 percent to $17.16 after surging around
36.2% in the previous month.
In commodity news,
oil traded up 0.06 percent
to $93.71, while gold traded down 0.11 percent to $1,278.80.
Silver traded down 0.12 percent Monday to $19.44, while copper
rose 0.19 percent to $3.23.
today. The eurozone's STOXX 600 gained 0.75 percent, the Spanish
Ibex Index climbed 1.21 percent, while Italy's FTSE MIB Index
surged 1.47 percent. Meanwhile, the German DAX rose 1.16 percent
and the French CAC 40 surged 1.27 percent while UK shares dropped
The Chicago Fed National Activity Index rose to 0.39 in July,
versus economists' expectations for a reading of 0.20.
The preliminary reading of the Markit services PMI fell to
58.50 in August, versus a prior reading of 60.80. However,
economists were expecting a reading of 58.00.
Sales of new US homes declined 2.4% to an annual rate of
412,000 in July. However, economists were expecting a sales rate
of 430,000 in July.
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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