Monday, the Dow traded up 0.01 percent to 16,925.92 removing
the gains from the morning session. The NASDAQ stands up 0.14
percent to 4,327.30. The S&P turned a green morning into a
red afternoon, shaving 0.03 percent of its open and currently at
Leading and Lagging Sectors
Technology shares surged around 0.62 percent in today's
trading. Top gainers in the sector included Hittite Microwave
), up 28.60 percent, and Sigma Designs (NASDAQ:
), up 8.01 percent.
In trading on Monday, utilities shares were relative laggards,
down on the day by about 0.37 percent. Top losers in the sector
included Korea Electric Power (NYSE:
), and NextEra Energy (NYSE:
Carl Icahn reported a stake of 9.393% in Family Dollar (NYSE:
). Shares traded to $66.68 before the 8PM EST after-hours closing
on Friday and rose further on Monday to a high of $70.30 on the
The company's performance has struggled over the past 9 months
keeping with a theme we've seen of discount retailers
underperforming while luxury retailers outperform.
Equities Trading UP
Idenix Pharmaceuticals (NASDAQ:
) shares rose 231.33 percent to $23.95 after Merck (NYSE:
) announced its plans to acquire Idenix for $24.50 per share in
Shares of Hittite Microwave (NASDAQ:
) got a boost, gaining 28.60 percent to $77.88 after Analog
) announced its plans to buy Hittite Microwave for $78 per share
Tyson Foods (NYSE:
) announced it has submitted a unilaterally binding offer to buy
The Hillshire Brands Company (NYSE:
) for $63 per share in cash. The deal is valued at around $8.55
billion, including net debt.
Equities Trading DOWN
Shares of Comverse (NASDAQ:
) were down 8.43 percent to $22.85 on Q1 results. The company
reported a Q1 loss of $0.72 per share on revenue of $119.0
Pilgrim's Pride (NASDAQ:
) shares lost 6.28 percent to $24.62 after Tyson Foods (NYSE:
) outbid Pilgrim's Pride for Hillshire Brands (NYSE:
Ferrellgas Partners LP (NYSE:
) was down, falling 1.01 percent to $26.44 after the company
reported weaker-than-expected fiscal third-quarter earnings.
In commodity news, oil traded up 1.68 percent to $104.38,
while gold traded up 10 basis points to $1,253.80.
Silver traded up 0.34 percent Monday to $19.06, while copper
fell 0.15 percent to $3.05.
European shares were higher today.
The eurozone's STOXX 600 gained 0.38 percent, the Spanish Ibex
Index gained 0.90 percent, while Italy's FTSE MIB Index jumped
Meanwhile, the German DAX rose 0.21 percent and the French CAC
40 surged 0.17 percent while UK shares gained 0.24 percent.
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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