In the early parts of the final hour of trading Monday, the Dow traded up 0.71 percent to 17,064.15 while the NASDAQ gained 0.66 percent to 4,444.86. The S&P also rose, gaining 0.53 percent to 1,978.03.
Leading and Lagging Sectors
Telecommunications services shares jumped around 1.19 percent in today’s trading. Top gainers in the sector included NQ Mobile (NYSE: NQ), China Unicom (Hong Kong) (NYSE: CHU), and Partner Communications Company (NASDAQ: PTNR).
In trading on Monday, utilities shares fell by 0.31 percent. Top losers in the sector included Exelon (NYSE: EXC), down 2.34 percent, and NRG Energy (NYSE: NRG), off 2.24 percent.
Top Headline
Citigroup (NYSE: C) reported better-than-expected second-quarter results.
Citigroup’s quarterly net profit fell to $181 million, or $0.03 per share, versus a year-ago profit of $4.18 billion, or $1.34 per share. Its adjusted net profit came in at $3.9 billion, or $1.24 per share. Its revenue slipped 6% to $19.3 billion from $20.48 billion. Excluding CVA/DVA, revenue fell 3% to $19.4 billion. However, analysts were estimating earnings of $1.06 per share on revenue of $18.92 billion.
The bank also announced its plans to pay $7 billion to settle the ongoing investigation of the Residential Mortgage-Backed Securities Working Group.
Equities Trading UP
Exelixis (NASDAQ: EXEL) shares shot up 21.18 percent to $4.03 after the company announced positive phase 3 data for coBRIM.
Shares of Kandi Technolgies Group (NASDAQ: KNDI) got a boost, shooting up 20.24 percent to $17.70 on report of a 238% rise in EV sales.
URS (NYSE: URS) shares were also up, gaining 11.76 percent to $58.14 after Aecom Technology (NYSE: ACM) announced its plans to buy URS for $4 billion in cash and stock.
Equities Trading DOWN
Shares of Harmonic (NASDAQ: HLIT) were down 13.46 percent to $6.18 after the company lowered its Q2 forecast and issued a weak Q3 guidance.
Riverbed Technology (NASDAQ: RVBD) shares tumbled 6.77 percent to $18.97 after the company lowered its Q2 revenue forecast.
GT Advanced Technologies (NASDAQ: GTAT) was down, falling 5.92 percent to $15.10 after cautious comments by CLSA.
Commodities
In commodity news, oil traded down 0.13 percent to $100.70, while gold traded down 2.33 percent to $1,306.30.
Silver traded down 2.47 percent Monday to $20.93, while copper fell 0.50 percent to $3.25.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 rose 0.94 percent, the Spanish IBEX Index surged 0.64 percent, while Italy’s FTSE MIB Index climbed 0.40 percent. Meanwhile, the German DAX rose 1.21 percent and the French CAC 40 climbed 0.78 percent while UK shares gained 0.99 percent.
Economics
The Treasury is set to auction 3-and 6-month bills.
Posted-In: Eurozone Futures Commodities Top Stories Economics Markets Movers
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Most Popular Earnings Expectations For The Week Of July 14: Big Banks, Tech Giants And More UPDATE: Barclays Upgrades Apple, Has High Expectations For Near Term GT Advanced Technologies Down Sharply On iPhone Production Concerns Phone Arena Reports Apple's 5.5-inch iPhone 6 Could be Delayed Until 2015 Stocks To Watch For July 14, 2014 #PreMarket Primer: Monday, July 14: Germany Wins World Cup 1-0 Related Articles (ACM + BZSUM) Mid-Day Market Update: Harmonic Drops On Weak Forecast; URS Shares Surge Harmonic Drops On Weak Forecast; URS Shares Surge Top Performing Industries For July 14, 2014 Benzinga's Volume Movers Mid-Morning Market Update: Markets Open Higher; Citigroup Profit Beats Street View Morning Market Movers Around the Web, We're Loving... We're Now Hiring Real-Time Journal
No comments:
Post a Comment