Following the market opening Monday, the Dow traded up 0.27
percent to 17,821.68 while the NASDAQ gained 0.15 percent to
4,782.49. The S&P also rose, gaining 0.27 percent to
Leading and Lagging Sectors
On Monday, the non-cyclical consumer goods & services
sector proved to be a source of strength for the market.
In trading on Monday, energy shares fell by 0.53 percent.
Meanwhile, top losers in the sector included Legacy Reserves LP
), down 12 percent, and Niska Gas Storage Partners LLC (NYSE:
), down 6 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 31 percent to $10.32 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 8 percent to $8.42 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.
Pernix Therapeutics Holdings Inc (NASDAQ:
) shares were also up, gaining 58 percent to $1.19 following
report of a 5.8 percent stake by Point72 Asset Management.
Equities Trading DOWN
BIND Therapeutics Inc (NASDAQ:
) shares dropped 65 percent to $0.510 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 28 percent to $1.89 following report of a non-timely
Ability Inc (NASDAQ:
) was down, falling around 27 percent to $5.45. Ability reported
Q4 earnings of $0.02 per share on revenue of $2.0 million.
In commodity news, oil traded up 0.02 percent to $45.93 while
gold traded up 1.12 percent to $1,304.90.
Silver traded up 1.30 percent Monday to $18.05, while copper
rose 0.35 percent to $2.29.
European shares were mostly higher today. The eurozone's STOXX
600 gained 0.15 percent, the Spanish Ibex Index rose 0.39
percent, while Italy's FTSE MIB Index slipped 0.19 percent.
Meanwhile, the German DAX rose 0.98 percent, and the French CAC
40 gained 0.54 percent.
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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