Midway through trading Monday, the Dow traded down 0.30
percent to 16,725.65 while the NASDAQ tumbled 0.30 percent to
4,297.53. The S&P also fell, dropping 0.24 percent to
Leading and Lagging Sectors
Utilities shares gained around 0.83 percent in today's
trading. Meanwhile, top gainers in the sector included
Consolidated Water Co (NASDAQ:
), up 4.3 percent, CenterPoint Energy (NYSE:
), up 2.1 percent.
In trading on Monday, telecommunications services shares were
relative laggards, down on the day by about 0.48 percent. Top
losers in the sector included Telecom Argentina SA (NYSE:
), down 6.1 percent, and NQ Mobile (NYSE:
), off 6.8 percent.
) announced its plans to buy Covidien plc (NYSE:
) for $42.9 billion in cash and stock.
Medtronic will offer $93.22 per share for Covidien,
representing a 29% premium over Covidien's closing price on
Equities Trading UP
Bluebird Bio (NASDAQ:
) shares shot up 33.61 percent to $34.86 following the
presentation of positive data on LentiGlobin BB305 at the
European Hematology Association (EHA).
Shares of Covidien plc (NYSE:
) got a boost, shooting up 20.90 percent to $87.07 after
) announced its
plans to buy
Covidien for $42.9 billion in cash and stock.
) shares were also up, gaining 23.11 percent to $11.43 after
) announced its plans to
for $11.25 per share in cash.
TW Telecom (NASDAQ:
) jumped 7.04% to $38.90 after the company
agreed to be acquired
by Level 3 Communications (NYSE:
) in a stock-and-cash transaction valued at $40.86 per share.
Equities Trading DOWN
Shares of Karyopharm Therapeutics (NASDAQ:
) were 9.45 percent to $42.67 after the company announced that
the FDA has found the effectiveness and safety for KPT-335.
) shares tumbled 4.95 percent to $35.11. Alibaba reported revenue
for the year ending March 31 of $8.47 billion and reported Yahoo
stake in Alibaba of 22.5% versus 22.6% as of December 31,
DreamWorks Animation SKG (NASDAQ:
) was down, falling 12.43 percent to $23.95 after the company
announced the launch on YouTube.
In commodity news,
oil traded up 0.07 percent
to $106.99, while gold traded up 0.51 percent to $1,280.60.
Silver traded up 0.15 percent Monday to $19.69, while copper
rose 0.46 percent to $3.04.
The eurozone's STOXX 600 tumbled 0.37 percent, the Spanish
Ibex Index dropped 0.84 percent, while Italy's FTSE MIB Index
fell 0.77 percent.
Meanwhile, the German DAX dropped 0.20 percent and the French
CAC 40 fell 0.58 percent while UK shares dropped 0.25
The Empire State manufacturing index rose to 19.28 in June,
versus a prior reading of 19.01. However, economists were
expecting a reading of 15.00.
Industrial production rose 0.6% in May, after dropping 0.3% in
April. However, economists were projecting a 0.5% growth in
The NAHB housing market index surged to 49.00 in June, versus
a prior reading of 45.00. However, economists were expecting a
reading of 47.00.
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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