Midway through trading Monday, the Dow traded up 1.11 percent
to 16,243.35 while the NASDAQ surged 1.05 percent to 4,290.04.
The S&P also rose, gaining 0.66 percent to 1,858.55.
Leading and Lagging Sectors Industrials stocks gained Monday,
with Schawk (NYSE:
) leading advancers after Matthews International (NASDAQ:
) announced its plans to acquire Schawk. Meanwhile, gainers in
the sector included Watts Water Technologies (NYSE:
), with shares up 4.2 percent, and China Recycling Energy
), with shares up 31 percent. Energy shares gained by just 0.43
percent in the US market today. Top losers in the sector included
Harvest Natural Resources (NYSE:
), off 6.3 percent, and Vaalco Energy (NYSE:
), down around 5.5 percent.
Top Headline JA Solar Holdings Co (NASDAQ:
reported a profit
in the fourth quarter. The company also expects higher shipments
for 2014. JA Solar projects shipments of 2.7 GW and 2.9 GW for
the full year, versus 2.1 GW in 2013. JA Solar posted a quarterly
net profit of $23 million, or $0.32 per American depositary
share, versus a year-ago net loss of $102.4 million, or $2.65 per
ADS. Its revenue surged 33% to $357.3 million.
Equities Trading UP Schawk (NYSE:
) shares shot up 36.12 percent to $20.05 after Matthews
) announced its
plans to acquire
Schawk for $20 per share.
Shares of STAAR Surgical Company (NASDAQ:
) got a boost, shooting up 14.90 percent to $17.66 after the
company reported that the FDA voted in favor of Visian Toric
Implantable Collamer Lens. Canaccord Genuity upgraded the stock
from Hold to Buy and raised the price target from $14.00 to
Kandi Technolgies Group (NASDAQ:
) was also up, gaining 26.32 percent to $21.93 after the company
reported fourth-quarter results. Kandi Technolgies posted its Q4
adjusted profit of $4.6 million on revenue of $50.60 million.
Equities Trading DOWN Shares of VeriSign (NASDAQ:
) were down 6.14 percent to $51.48 after Cowen & Company
downgraded the stock from Outperform to Market Perform and cut
the price target from $63.00 to $49.00.
Gray Television (NYSE:
) shares tumbled 10.61 percent to $9.40 after Wells Fargo
downgraded the stock from Outperform to Market Perform.
) was down, falling 5.83 percent to $48.80 after the company
filed for a $400 million ADS offering via Morgan Stanley, Citi,
Commodities In commodity news,
oil traded down 1.27 percent
to $97.63, while gold traded down 0.46 percent to $1,372.70.
Silver traded down 0.53 percent Monday to $21.30, while copper
rose 0.24 percent to $2.96.
Eurozone European shares
The Spanish Ibex Index rose 1.73 percent, while Italy's FTSE
MIB Index surged 2.46 percent.
Meanwhile, the German DAX jumped 1.36 percent and the French
CAC 40 climbed 1.32 percent while U.K. shares rose 0.63
Economics The Empire State manufacturing index rose to 5.61 in
March, versus a prior reading of 4.48. However, economists were
expecting a reading of 6.00.
US industrial production rose 0.80% in February, versus
economists' expectations for a 0.20% gain.
The NAHB housing market index rose to 47.00 in March, from a
prior reading of 46.00. However, economists were expecting a
reading of 50.00.
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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