Entering the final 60 minutes of trading on Monday, the Dow
traded down 0.09 percent to 16,975.79 while the NASDAQ lost 0.04
percent to 4,447.64. The S&P rose slightly by 0.05 percent to
Leading and Lagging Sectors
Utilities shares surged 0.90 percent in trading on Monday.
Meanwhile, top gainers in the sector included Korea Electric
), up 6.83 percent, and Calpine (NYSE:
), up 2.95 percent.
In trading on Monday, non-cyclical consumer goods &
services shares were relative laggards, down on the day by about
0.65 percent. Top decliners in the sector included Cal-Maine
), down 4.65 percent, and Omega Protein (NYSE:
), off 5.74 percent.
Dollar Tree (NASDAQ:
) announced its
plans to buy
Family Dollar (NYSE:
) for around $8.5 billion in a cash-and-stock deal.
The transaction value of $74.50 per share represents around
23% premium to Family Dollar's closing price of $60.66 on
Equities Trading UP
) shares shot up 16.77 percent to $65.77 after Zillow (NASDAQ:
) announced its plans to buy Trulia for $3.5 billion in
Shares of Family Dollar Stores (NYSE:
) got a boost, shooting up 24.38 percent to $75.45 after Dollar
) announced its plans to buy Family Dollar for $8.5 billion.
Tyson Foods (NYSE:
) shares were also up, gaining 2.39 percent to $40.49 after the
revenue and announced its plans to sell its Mexican and Brazilian
chicken businesses for $575 million. The company reported
weaker-than-expected quarterly net income and announced an
offering of 24 million Class A shares.
Equities Trading DOWN
Shares of Armstrong World Industries (NYSE:
) were down 10.60 percent to $49.50 after the company reported
weaker-than-expected Q2 results and lowered its FY14
Cal-Maine Foods (NASDAQ:
) shares tumbled 4.49 percent to $75.73 on FQ4 results. The
company posted its quarterly earnings of $31.5 million, or $1.30
per share, versus a year-earlier loss of $3.8 million, or $0.16
) was down, falling 3.57 percent to $144.79 on Q2 results. The
second-quarter earnings and lifted its revenue outlook for the
In commodity news,
oil traded down 0.06 percent
to $102.03, while gold traded up 0.05 percent to $1,303.90.
Silver traded down 0.20 percent Monday to $20.59, while copper
rose 0.08 percent to $3.24.
were mostly lower
today. The eurozone's STOXX 600 dropped 0.18 percent, the Spanish
IBEX Index declined 0.08 percent, while Italy's FTSE MIB Index
fell 0.59 percent. Meanwhile, the German DAX declined 0.48
percent and the French CAC 40 gained 0.33 percent while UK shares
fell 0.05 percent.
The flash reading of Markit PMI services index came in at
61.00 in July, versus a prior reading of 61.00. However,
economists were expecting a reading of 59.80.
The pending home sales index fell to 102.7 in June, versus a
revised 103.8 in May. Pending home sales dropped 1.1% June.
The Dallas Fed general business activity index rose to 12.70
in July, versus a prior reading of 11.40. However, economists
were expecting a reading of 12.80.
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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