Midway through trading Monday, the Dow traded up 0.23 percent
to 16,963.59 while the NASDAQ surged 0.57 percent to 4,345.98.
The S&P also rose, gaining 0.27 percent to 1,954.63.
Leading and Lagging Sectors
Technology shares surged around 0.62 percent in today's
trading. Top gainers in the sector included Hittite Microwave
), up 28.7 percent, and Sigma Designs (NASDAQ:
), up 7.5 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:
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. Tyson had earlier offered $50 per
share for Hillshire. However, Pilgrim's Pride (NASDAQ:
) had offered $55 per share for Hillshire.
Equities Trading UP
Idenix Pharmaceuticals (NASDAQ:
) shares shot up 232.92 percent to $24.07 after Merck (NYSE:
) announced its
plans to acquire
Idenix for $24.50 per share in cash. Shares of Hittite Microwave
) got a boost, shooting up 28.75 percent to $77.97 after Analog
) announced its
plans to buy
Hittite Microwave for $78 per share in cash. Family Dollar Stores
) shares were also up, gaining 13.70 percent to $68.82 after
Carl Icahn disclosed
a brand-new 9.39% stake in the company.
Equities Trading DOWN
Shares of Comverse (NASDAQ:
) were 6.13 percent to $23.43 on Q1 results. The company reported
a Q1 loss of $0.72 per share on revenue of $119.0 million.
Pilgrim's Pride (NASDAQ:
) shares tumbled 5.22 percent to $24.90 after Tyson Foods (NYSE:
) outbid Pilgrim's Pride for Hillshire Brands (NYSE:
Ferrellgas Partners LP (NYSE:
) was down, falling 1.35 percent to $26.35 after the company
reported weaker-than-expected fiscal third-quarter earnings.
In commodity news,
oil traded up 1.48 percent
to $104.18, while gold traded up 0.06 percent to $1,253.30.
Silver traded up 0.49 percent Monday to $19.09, while copper
fell 0.15 percent to $3.05.
European shares today.
The eurozone's STOXX 600 gained 0.38 percent, the Spanish Ibex
Index surged 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.
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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