Midway through trading Monday, the Dow traded down 0.36 percent to 19,755.78 while the NASDAQ slipped 0.37 percent to 5,534.68.
The S&P also fell, dropping 0.42 percent to 2,261.81.
Leading and Lagging Sectors
Basic materials shares gained around 0.43 percent in trading on Monday. Meanwhile, top gainers in the sector included
Northern Dynasty Minerals Ltd (NYSE: NAK), and
Richmont Mines Inc. (USA) (NYSE: RIC).
In trading on Monday, energy shares slipped by 0.93 percent. Meanwhile, top losers in the sector included Seadrill Ltd
(NYSE: SDRL), down 7 percent, and Diamond Offshore Drilling
Inc (NYSE: DO), down 5 percent.
Top Headline
McDonald's Corporation (NYSE: MCD) reported
stronger-than-expected results for its fourth quarter on Monday.
McDonald's reported Q4 earnings of $1.44 per share on revenue of $6.03 billion. Analysts were expecting earnings of $1.41 per
share on revenue of $5.99 billion.
Global same-store sales gained 2.7 percent during the quarter, while same-store sales slipped 1.3 percent in the U.S.
Equities Trading UP
Marinus Pharmaceuticals Inc (NASDAQ: MRNS) shares
shot up 46 percent to $1.70 following preliminary study update. Marinus Pharmaceuticals reported positive preliminary data from
children with CDKL5 genetic disorder.
Shares of Cynosure, Inc. (NASDAQ: CYNO) got a
boost, shooting up 10 percent to $48.40. Cynosure is said to be considering strategic options, including a potential sale,
according to sources as reported by Bloomberg on Sunday.
Brookfield Canada Office Properties (NYSE: BOXC)
shares were also up, gaining 18 percent to $23.20. Brookfield Property Partners LP (NYSE: BPY) reported that it has proposed to acquire the remaining 16.9 percent of unowned
Brookfield Canada Office Properties for $30.10 cash per unit.
Equities Trading DOWN
Aptose Biosciences Inc (NASDAQ: APTO) shares
dropped 27 percent to $0.950 after the company disclosed that it will temporarily delay clinical activities with APTO-253 and will
prioritize resources for CG'806 with AML patients.
Shares of SenesTech Inc (NASDAQ: SNES) were down
around 13 percent to $7.70. SenesTech and Neogen reported that they have mutually agreed to terminate Neogen technology
license.
QUALCOMM, Inc. (NASDAQ: QCOM) was down, falling
around 14 percent to $54.10. On Friday, Apple Inc. (NASDAQ: AAPL) disclosed that it is suing Qualcomm over licensing practices. Nomura
downgraded Qualcomm from Buy to Neutral and lowered the price target from $80.00 to $70.00, while CLSA also downgraded the stock
from Buy to Underperform.
Commodities
In commodity news, oil traded down 1.33 percent to $52.51 while gold traded up 0.85 percent to $1,215.10.
Silver traded up 0.93 percent Monday to $17.19, while copper rose 0.36 percent to $2.63.
Eurozone
European shares were lower today. The eurozone’s STOXX 600 slipped 0.53 percent, the Spanish Ibex Index fell 0.80 percent, while
Italy’s FTSE MIB Index declined 0.72 percent. Meanwhile the German DAX dropped 0.79 percent, and the French CAC 40 fell 0.68
percent while U.K. shares fell 0.80 percent.
Economics
On the economics calendar Monday, there is no important data due out.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.