Midway through trading Monday, the Dow traded up 1.16 percent
to 16,290.35 while the NASDAQ surged 1.09 percent to 4,309.92.
The S&P also rose, gaining 1.19 percent to 1,858.10.
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 RF Micro Devices (NASDAQ:
) shot up 15.82 percent to $6.73 after the company announced its
plans to merge with TriQuint Semiconductor (NASDAQ:
Shares of GT Advanced Technologies (NASDAQ:
) got a boost, shooting up 13.79 percent to $13.78 after the
company reported upbeat Q4 earnings.
TriQuint Semiconductor (NASDAQ:
) was also up, gaining 21.45 percent to $11.21 after the company
and RFMD announced their
plans to combine
in an all-stock deal.
Equities Trading DOWN Shares of Cogent Communications Group
) were down 5.60 percent to $37.98 after FBR Capital downgraded
the stock from Market Perform to Underperform. Armstrong World
) shares tumbled 4.86 percent to $56.39 after the company
reported downbeat Q4 earnings. Dillard's (NYSE:
) was down, falling 6.40 percent to $83.61 on
weaker-than-expected Q4 results.
Commodities In commodity news, oil traded up 0.94 percent to
$103.16, while gold traded up 1 percent to $1,336.80.
Silver traded up 1.38 percent Monday to $22.12, while copper
fell 0.97 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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