Midway through trading Monday, the Dow traded up 0.49 percent
to 14,784.76 while the NASDAQ gained 0.84 percent to 3,306.75.
The S&P also rose, surging 0.58 percent to 1,591.39.
Top Headline Loews (NYSE:
) reported a 34% drop in its first-quarter earnings.
Loews' quarterly profit declined to $242 million, or $0.62 per
share, from $367 million, or $0.92 per share, in the year-ago
period. Excluding one-time items, its adjusted net income came in
at $334 million.
Its revenue fell 0.3% to $3.73 billion, while revenue from
insurance premiums gained 7%.
Equities Trading UP Conceptus (NASDAQ:
) shot up 19.42 percent to $30.93 after Bayer AG agreed to
acquire the company for about $1.1 billion.
Shares of SINA (NASDAQ:
) got a boost, shooting up 13.62 percent to $57.15 after Alibaba
acquired an 18% stake in Sina's Weibo for $586 million.
Century Aluminum Co (NASDAQ:
) was also up, gaining 10.39 percent to $7.44 after the company
announced agreement to buy Sebree smelter.
Equities Trading DOWN Auxilium Pharmaceuticals (NASDAQ:
) was down, falling 12.35 percent to $14.05 on disappointing Q1
Shares of National Bank of Greece SA (NYSE:
) were down 7.01 percent to $1.06 after the bank's shareholders
approved a 9.75 billion euro ($12.7 billion) share offering.
) shares tumbled 4.34 percent to $56.02 after TheStreet Ratings
downgraded the stock from "buy" to "hold.
In commodity news, oil traded up 1.19 percent to $94.11, while
gold traded up 1.26 percent to $1,471.90.
Silver traded up 2.28 percent Monday to $24.33, while copper
rose 1.38 percent to $3.23.
European shares were higher on stimulus hopes, sentiment from
Italy over the formation of the new government, and news out of
Greece that parliament passed a set of legislation enabling the
country to receive the next bailout payment.
Eurozone consumer confidence improved slightly in April as the
index rose to -22.0 from -23.5 in March, in line with estimates.
Business confidence was slightly weaker than expected in April at
88.6 vs. 89.3 forecast.
The Spanish Ibex Index rose 1.79 percent while the Italian
FTSE MIB Index gained 2.18 percent. Meanwhile, the German DAX
rose 0.69 percent and the French CAC surged 1.54 percent and U.K.
shares climbed 0.34 percent.
Economics Consumer spending climbed 0.2% in March, versus 0.7%
in February. Personal income gained 0.2% last month. However,
economists were expecting a 0.1% rise in spending and a 0.4% rise
Pending sales of homes surged 1.5% in March. The
pending-home-sales index rose to 105.7 in the month, versus 104.1
The Dallas Fed general business activity index declined to
-15.60 in April, versus a prior reading of 7.40.
The Treasury will hold its weekly 3- and 6-month bill
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