Following the market opening Monday, the Dow traded up 0.34
percent to 16,609.89 while the NASDAQ surged 0.61 percent to
4,397.34. The S&P also rose, gaining 0.44 percent to
Leading and Lagging Sectors
Monday morning, the energy sector proved to be a source of
strength for the market. Leading the sector was strength from
Kinder Morgan Management LLC (NYSE:
) and El Paso Pipeline Partners LP (NYSE:
). In trading on Monday, healthcare shares gained by just 0.22
percent. Meanwhile, top decliners in the sector included Aegerion
), down 7.5 percent, and PhotoMedex (NASDAQ:
), off 5.9 percent.
The Priceline Group (NASDAQ:
quarterly profit, but issued a weak forecast for the third
The Norwalk, Connecticut-based company posted a quarterly
profit of $576.5 million, or $10.89 per share, versus a year-ago
profit of $437.3 million, or $8.39 per share. Excluding
non-recurring items, Priceline's adjusted profit rose to $12.51
per share from $9.70 per share.
Its total sales rose to $2.12 billion versus $1.68 billion.
However, analysts were expecting a profit of $12.06 per share on
revenue of $2.14 billion. For the current quarter, Priceline
expects adjusted earnings of $19.60 to $21.10 per share, versus
analysts' estimates of $21.28 per share.
Equities Trading UP
Chiquita Brands International (NYSE:
) shares shot up 30.32 percent to $13.11 after the Cutrale Group
and the Safra Group proposed to acquire Chiquita Brands for
$13.00 per share in cash.
Shares of MannKind (NASDAQ:
) got a boost, shooting up 15.74 percent to $9.41 on Afrezza
Kinder Morgan (NYSE:
) shares were also up, gaining 8.75 percent to $39.28 after the
company announced its plans to combine four publicly-traded
companies in a deal valued at $70 billion. Kinder Morgan will
also raise dividend by 16% to $2.00 per share in 2015.
Equities Trading DOWN
Shares of Dean Foods Company (NYSE:
) were down 6.83 percent to $14.73 after the company posted a
second-quarter loss and withdrew its forecast for the full
) shares tumbled 1.22 percent to $2.85 after falling 1.37% on
Friday on weaker-than-expected second-quarter revenue and
downbeat revenue forecast for the third quarter.
) was down, falling 11.65 percent to $14.11 after the company
reported a Q2 loss of $0.22 per share on revenue of $99.50
In commodity news,
oil traded down 0.07 percent
to $97.58, while gold traded down 0.15 percent to $1,309.10.
Silver traded up 0.20 percent Monday to $19.98, while copper
rose 0.35 percent to $3.18.
today. The eurozone's STOXX 600 jumped 1.18 percent, the Spanish
Ibex Index gained 0.61 percent, while Italy's FTSE MIB Index
surged 0.54 percent. Meanwhile, the German DAX jumped 1.64
percent and the French CAC 40 gained 0.92 percent while UK shares
climbed 0.84 percent.
The Treasury is set to auction 4-week, 3-month and 6-month
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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