Toward the end of trading Monday, the Dow traded down 0.26
percent to 16,044.39 while the NASDAQ tumbled 0.14 percent to
4,054.40. The S&P also turned red, falling 0.01 percent to
Top Headline Akamai Technologies (NASDAQ:
) announced it
plans to buy
Prolexic Technologies, a provider of cloud-based security
solutions, for about $370 million.
The transaction is expected to close in the first half of
2014. Akamai reaffirmed its Q4 earnings forecast of $0.49 to
$0.53 per share on revenue of $412 million to 430 million.
Equities Trading UP Pretium Resources (NYSE:
) shot up 6.70 percent to $5.79 after the company
announced the results
of underground exploration in Valley of the Kings.
Shares of Axiall (NYSE:
) were also on the rise, gaining 10.00 percent to $49.82 after
Dow Chemical announced the plan sale of its Commodity Chemicals
unit. The sale was stated as a positive for the company by Cowen
analyst Charles Neivert, and looks to be giving shares a strong
) was also up, gaining 7.49 percent to $31.28 after Goldman Sachs
added the stock to "Conviction Buy" list.
Equities Trading DOWN Shares of Cobalt International Energy
) were down 16.69 percent to $18.53 after the company confirmed
that it has
successfully tested its
earlier announced Lontra #1 Pre-salt discovery well in Block 20,
Petroleo Brasileiro SA- Petrobras (NYSE:
) shares tumbled 11.48 percent to $14.11 after Citigroup
downgraded the stock from Buy to Neutral.
) was also down, falling 7.65 percent to $31.71 after the company
was dropped from Buy to a Neutral rating at Goldman Sachs.
Commodities In commodity news,
oil traded up 1.31 percent
to $93.93, while gold traded down 2.55 percent to $1,218.90.
Silver traded down 4.11 percent Monday to $19.17, while copper
fell 0.94 percent to $3.17.
Eurozone European shares
were mostly lower
today. The Spanish Ibex Index tumbled 0.79 percent, while Italy's
FTSE MIB Index declined 1.52 percent. Meanwhile, the German DAX
dropped 0.01 percent and the French CAC 40 declined 0.22 percent
while U.K. shares fell 0.83 percent.
Economics U.S. manufacturing PMI climbed to 54.7 in November,
from the flash estimate of 54.3 and versus a reading of 51.8 in
October. However, economists were expecting a reading of
The ISM manufacturing index rose to 57.30 in November, versus
a prior reading of 56.40. However, economists were expecting a
reading of 55.10.
U.S. construction spending rose 0.80% in October, versus
economists' expectations for a 0.40% gain.
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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