Toward the end of trading Monday, the Dow traded up 0.60
percent to 17,880.34 while the NASDAQ gained 0.66 percent to
4,807.01. The S&P also rose, gaining 0.71 percent to
Leading and Lagging Sectors
On Monday, the cyclical consumer goods & services sector
proved to be a source of strength for the market. Top gainers in
the sector included Lee Enterprises, Incorporated (NYSE:
), Entercom Communications Corp. (NYSE:
), and Wynn Resorts, Limited (NASDAQ:
In trading on Monday, energy shares fell by 0.30 percent.
Meanwhile, top losers in the sector included Legacy Reserves LP
), down 16 percent, and EV Energy Partners, L.P. (NASDAQ:
), down 9 percent.
SYSCO Corporation (NYSE:
) reported better-than-expected earnings for its fiscal third
quarter on Monday.
Sysco posted quarterly net income of $217.1 million, or $0.38
per share, compared to $177 million, or $0.30 per share, in the
year-ago period. Its adjusted earnings came in at $0.46 per
Its sales rose to $12 billion from $11.7 billion. However,
analysts were expecting a profit of $0.42 per share on revenue of
Equities Trading UP
Opower Inc (NYSE:
) shares shot up 30 percent to $10.29 as Oracle Corporation
) announced plans to acquire Opower for $10.30 per share in
Shares of Apollo Education Group Inc (NASDAQ:
) got a boost, shooting up 11 percent to $8.64 after the company
confirmed it has received a revised buyout offer. Apollo
Education said a consortium of investors led by the Vistria Group
and Apollo Global Management offered to acquire the company for
$10.00 per share.
Sarepta Therapeutics Inc (NASDAQ:
) shares were also up, gaining 16 percent to $16.52. Oppenheimer
upgraded Sarepta Therapeutics from Perform to Outperform.
Equities Trading DOWN
BIND Therapeutics Inc (NASDAQ:
) shares dropped 74 percent to $0.373 as the company disclosed
that it opted to file for a voluntary petition under Chapter 11
of the Bankruptcy Code in the Bankruptcy Court for the District
of Delaware in the United States.
Shares of Paragon Shipping Inc. (NASDAQ:
) were down 37 percent to $1.67 following report of a non-timely
Haemonetics Corporation (NYSE:
) was down, falling around 14 percent to $27.98 as the company
reported weaker-than-expected Q4 earnings.
In commodity news, oil traded down 2.50 percent to $44.77
while gold traded up 0.10 percent to $1,291.80.
Silver traded down 1.54 percent Monday to $17.54, while copper
fell 0.81 percent to $2.27.
European shares closed mixed today. The eurozone's STOXX 600
declined 0.07 percent, the Spanish Ibex Index fell 0.04 percent,
while Italy's FTSE MIB Index slipped 0.97 percent. Meanwhile, the
German DAX rose 0.84 percent, and the French CAC 40 gained 0.31
The final reading of Markit manufacturing PMI came in at
unchanged at 50.80 for April, versus a prior reading of 50.80.
Economists were expecting a reading of 51.00.
The ISM manufacturing composite index declined to 50.8 for
April, compared to 51.8 in March. However, economists were
projecting a reading of 51.4.
Construction spending increased 0.3 percent in March, versus
economists' expectations for a 0.7 percent growth.
© 2016 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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