Toward the end of trading Monday, the Dow traded up 0.93
percent to 16,252.35 while the NASDAQ surged 0.84 percent to
4,299.92. The S&P also rose, gaining 0.85 percent to
Leading and Lagging Sectors Telecommunications services sector
surged 2.44%, saw Vodafone Group Public Limited Company (NASDAQ:
) as the top gainer. Gainers in the sector included NQ Mobile
), with shares up 3 percent, and Allot Communications (NASDAQ:
), with shares up 4.7 percent. In trading on Monday, basic
materials shares gained 0.32 percent. Among the sector
stocks,Cliffs Natural Resources (NYSE:
) was down more than 2.2 percent, while KMG Chemicals (NYSE:
) tumbled around 5.7 percent.
Top Headline Men's Wearhouse (NYSE:
) raised its
cash tender offer
for Jos. A. Bank Clothiers (NASDAQ:
) to $63.50 per share from $57.50 per share.
Equities Trading UP J.C.Penney (NYSE:
) fell on Monday's session, dropping 6.74 percent to $5.255 after
a Clevland Research report published midway through the morning
said the company was "well positioned to increase promotions in
the first half of 2014", which appeared to upset the street.
Shares of GT Advanced Technologies (NASDAQ:
) got a boost, shooting up 14.79 percent to $13.90 after the
company reported upbeat Q4 earnings.
TriQuint Semiconductor (NASDAQ:
) was also up, gaining 27.19 percent to $11.74 after the company
and RFMD (NASDAQ:
) announced their
plans to combine
in an all-stock deal.
Equities Trading DOWN Shares of Cogent Communications Group
) were down 5.52 percent to $38.01 after FBR Capital downgraded
the stock from Market Perform to Underperform. Armstrong World
) shares tumbled 9.60 percent to $53.58 after the company
reported downbeat Q4 earnings.
3D Systems (NYSE:
) was also down, falling 6.12 percent to $75.80 after the company
caught a downgrade to an Underperform rating at Bank of America
and a drop in price target from $90 to $65.
Commodities In commodity news, oil traded up 0.58 percent to
$102.79, while gold traded up 1.04 percent to $1,337.80.
Silver traded up 1.18 percent Monday to $22.05, while copper
fell 0.72 percent to $3.23.
Eurozone European shares were higher today. The Spanish Ibex
Index rose 1.21 percent, while Italy's FTSE MIB Index climbed
Meanwhile, the German DAX surged 0.54 percent and the French
CAC 40 climbed 0.87 percent while U.K. shares gained 0.41
Economics The Chicago Fed National Activity Index came in at
-0.39 in January, versus economists' expectations for a reading
The Markit Services PMI fell to 52.7 in February, versus a
prior reading of 56.7. However, economists were expecting a
reading of 56.9.
The Dallas Fed general business activity index fell to 0.30 in
February, versus a prior reading of 3.80. However, economists
were expecting a reading of 3.00.
(c) 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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