With minutes remaining in the trading day for Monday, the Dow
traded down 0.13 percent to 16,830.49 while the NASDAQ surged
0.31 percent to 4,411.75. The S&P gained 0.03 percent to
Leading and Lagging Sectors
In trading on Monday, technology shares were relative leaders,
up on the day by about 0.30 percent. Top gainers in the sector
included Uni-Pixel (NASDAQ:
), up 11.4 percent, and ClickSoftware Technologies (NASDAQ:
), up 9.2 percent.
Basic materials sector was the top decliner in today's
trading. Top losers in the sector included Rayonier (NYSE:
), down 26.6 percent, and Noranda Aluminum Holding (NYSE:
), off 2.8 percent.
General Motors (NYSE:
) was halted at 2:26 PM Eastern Time and announced 6 new
recalls totaling 7.6M autos. The data range for the recall
is for vehicles from 1997 to 2014 and the company is expecting a
$1.2B charge which includes the previously estimated $700M
charge. Shares sold off ~1.7 percent as trading resumed
after the trading halt.
Equities Trading UP
) shares shot up 9.10 percent to $10.91 following the Friday's
conditional FDA approval
Shares of ServiceSource International (NASDAQ:
) got a boost, shooting up 3.37 percent to $5.82 after Altai
Capital reported a 9.9% stake in ServiceSource.
GW Pharmaceuticals plc (NASDAQ:
) shares were also up, gaining 12.22 percent to $107.89 as Piper
Jaffray raised the price target on the stock from $97 to
Equities Trading DOWN
Shares of MBIA (NYSE:
) were 3.48 percent to $11.09 as BTIG Research downgraded the
stock from Buy to Neutral.
United States Steel (NYSE:
) shares gained 0.12 percent to $26.05. Martin Marietta Materials
) will replace U.S. Steel in the S&P 500 index after the
close of trading on July 1.
) was down, falling 26.83 percent to $35.52. Rayonier completed
the spin-off of Rayonier Advanced Materials (
). Analysts at RBC Capital downgraded Rayonier from Outperform to
In commodity news,
oil traded down 0.32 percent
to $105.40, while gold traded up 0.62 percent to $1,328.20
Silver traded up 0.08 percent Monday to $21.15, while copper
rose 1.17 percent to $3.20.
were mostly lower
The eurozone's STOXX 600 fell 0.01 percent, the Spanish IBEX
Index dropped 0.33 percent, while Italy's FTSE MIB Index slipped
Meanwhile, the German DAX climbed 0.37 percent and the French
CAC 40 tumbled 0.32 percent while UK shares declined 0.01
The Chicago PMI dropped to 62.6 in June, versus 65.5 in May.
However, economists were expecting a reading of 64.3.
The pending home sales index rose 6.1% to reach 103.9 in May,
up from 97.9 in April.
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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