Mid-Day Market Update: Crude Oil Up 2.4%; Regional Health Properties Shares Spike Higher
Midway through trading Monday, the Dow traded down 0.18 percent to 26,511.75 while the NASDAQ declined 0.01 percent to 7,997.89. The S&P also fell, dropping 0.01 percent to 2,904.85.
Leading and Lagging Sectors
In trading on Monday, real estate shares fell 1 percent.
Halliburton Company (NYSE: HAL) reported better-than-expected results for its first quarter.
Halliburton said it earned $0.23 per share in the first quarter on revenue of $5.737 billion versus expectations of $0.22 per share and $5.52 billion.
Equities Trading UP
The KeyW Holding Corporation (NASDAQ: KEYW) shares got a boost, shooting up 43 percent to $11.21 after Jacobs Engineering Group Inc (NYSE: JEC) announced plans to acquire KEYW for $11.25 per share in cash.
Shares of Moleculin Biotech, Inc. (NASDAQ: MBRX) shot up 33 percent to $1.4766 after the company announced a conference call to review a 'significant discovery for lung cancer and FDA activity.'
Regional Health Properties, Inc. (NYSE: RHE) shares were also up, gaining 157 percent to $2.8001 after the company announced it has entered an agreement to sell four skilled nursing facilities for $28.5 million.
Equities Trading DOWN
Fusion Telecommunications International, Inc. (NASDAQ: FSNN) shares dropped 24 percent to $0.1840 after the company received a delisting notice from NASDAQ.
Shares of Novus Therapeutics, Inc. (NASDAQ: NVUS) were down 24 percent to $3.13. Novus Therapeutics said its OP0201 Phase 1 clinical trials 'demonstrated a favorable safety and tolerability profile.'
GrafTech International Ltd. (NYSE: EAF) was down, falling around 10 percent to $12.58 after Citigroup downgraded the company's stock from Buy to Sell.
In commodity news, oil traded up 2.4 percent to $65.55 while gold traded up 0.1 percent to $1,277.10.
Silver traded up 0.1 percent Monday to $14.975, while copper fell 0.5 percent to $2.9045.
European markets were closed Monday for Easter holiday.
The Chicago Fed National Activity Index for March rose to -0.15 in March, compared to a reading of -0.31 in February.
U.S. existing home sales declined 4.9 percent at an annual rate of 5.21 million for March.
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