Following the market opening Monday, the Dow traded down 0.14
percent to 16,923.66 while the NASDAQ declined 0.05 percent to
4,366.07. The S&P also fell, dropping 0.02 percent to
Leading and Lagging Sectors
Monday morning, the basic materials sector proved to be a
source of strength for the market. Leading the sector was
strength from Cliffs Natural Resources (NYSE:
) and Thompson Creek Metals Company (NYSE:
Telecommunications services shares fell around 0.68 percent in
trading on Monday. Top losers in the sector included NQ Mobile
), down 2.1 percent, and China Mobile (NYSE:
), off 2.1 percent.
) announced its plans to buy Micros Systems (NASDAQ:
) in a $5.3 billion deal.
The offer price of $68 per share represents a 3.4% premium
over Micros' closing price on Friday.
Equities Trading UP
Integrys Energy Group (NYSE:
) shares shot up 14.59 percent to $69.84 after Wisconsin Energy
) announced its
plans to acquire
Integrys Energy Group in a deal valued at $9.1 billion.
Shares of Central Garden & Pet Company (NASDAQ:
) got a boost, shooting up 10.89 percent to $9.98 after Harbinger
offered to buy
Central Garden & Pet Co for $10 per share.
MICROS Systems (NASDAQ:
) shares were also up, gaining 3.24 percent to $67.90 after
) announced its
plans to buy
MICROS for $68 per share.
Equities Trading DOWN
Shares of Meritor (NYSE:
) were 11.86 percent to $12.86 after the company reached a
$500 million settlement
with Eaton (NYSE:
) related to an anti-trust suit filed in 2006. The company's
board also authorized a repurchase of up to $210 million.
) shares tumbled 3.88 percent to $11.41 after the company
reported its Q4 earnings of $0.15 per share on revenue of $120.60
million. Ixia now expected Q1 sales of $109.0 million to $113.0
) was down, falling 3.25 percent to $72.32 after the company
lowered its FY14 earnings
forecast and issued a weak Q2 outlook.
In commodity news, to $106.75, while gold traded down 0.08
percent to $1,315.50.
Silver traded down 0.38 percent Monday to $20.92, while copper
rose 0.90 percent to $3.14.
European shares today.
The eurozone's STOXX 600 declined 0.28 percent, the Spanish
Ibex Index dropped 0.05 percent, while Italy's FTSE MIB Index
fell 0.70 percent.
Meanwhile, the German DAX declined 0.29 percent and the French
CAC 40 dropped 0.41 percent while UK shares slipped 0.21
The Chicago Fed National Activity Index rose to 0.21 in May,
versus economists' expectations for a reading of 0.20.
The flash reading of Markit PMI manufacturing index rose to a
reading of 57.5 in June versus a reading of 56.4 in May. However,
economists were expecting a reading of 56.0.
Sales of existing homes rose 4.9% to an annual rate of 4.89
million in May. However, economists were estimating a sales rate
of 4.74 million.
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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