Toward the end of trading Monday, the Dow traded up 0.03
percent to 13,899.13 while the NASDAQ rose 0.29 percent to
3,158.63. The S&P fell however, decreasing 0.05 percent to
Top Headline One of the biggest names for tracking Chinese
markets and global economic growth conditions, Caterpillar (NYSE:
) reported earnings this morning, beating estimates. Despite the
beat, the company released very poor guidance, expecting a weak
first-quarter. Traders weren't scared away by the guidance
however, as shares rose roughly 2.4 percent in early trading.
Equities Trading UP Idenix Pharmaceuticals (NASDAQ:
) traded up 4.23 percent to $4.93 Monday after the company
announced collaboration with a unit of Johnson and Johnson this
Shares of Zynga (NASDAQ:
) also got a boost, gaining 10.04 percent to $2.74 after news
that BlackRock had invested $80 million in Twitter gave the
social media company a boost.
) rounded out the top gainers, rising 9.51 percent to $11.12
after the company was highlighted in Barron's over the
Equities Trading DOWN 3D Systems (NYSE:
) traded down 11.25 percent to $61.30 after the company announced
it had acquired Cobweb.
) was also down, falling 8.24 percent to $40.00 after Fortune
High Tech Marketing, another multi level marketing company, had
its assets seized by the FTC after it was accused of being a
Shares of Jos. A Bank (NASDAQ:
) took a 16.27 percent hit to $38.74 this morning after the
company snuck in a poor earnings announcement and very weak
guidance Friday night after the close of regular and post
Commodities In commodity news, oil traded up 0.58 percent to
$96.44, while gold traded down 0.13 percent to $1,654.50.
Silver traded down 0.86 percent Monday to $30.86.
Eurozone European markets were relatively flat this morning,
with Italy seeing some strength led by its financial sector.
While the Italian MIB index saw a 0.42 percent boost, the German
DAX, French CAC and Spanish Ibex were all down.
Economics In economic news Monday morning, durable goods
orders were reported late, but came in at 4.6 percent, well above
the projected 1.8 percent and the previous report of 0.80
Core durable goods came in at 1.30 percent, a smaller beat but
still above the estimates of 0.8 percent, and slightly higher
than the revised previous figure of 1.20 percent.
Pending home sales month over month were reported at -4.3
percent, well below the projected 0.0 percent and the prior
figure of 1.70 percent, while pending home sales year over year
were reported at 4.90 percent, missing expectations of 11.50
percent and the previous report of 8.90 percent.
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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