Following the market opening Monday, the Dow traded down 0.16 percent to 20,787.51 while the NASDAQ declined 0.14 percent to
5,837.23. The S&P also fell, dropping 0.14 percent to 2,364.14.
Leading and Lagging Sectors
Basic material shares climbed by 0.30 percent in trading on Monday. Meanwhile, top gainers in the sector included Silver
Standard Resources Inc. (USA) (NASDAQ: SSRI), and
L.B. Foster Co (NASDAQ: FSTR).
In trading on Monday, telecommunications services shares fell by 0.54 percent. Meanwhile, top losers in the sector included
Telecom Argentina SA (ADR) (NYSE: TEO), down 7 percent,
and B Communications Ltd (NASDAQ: BCOM), down 4
percent.
Top Headline
Sothebys (NYSE: BID) reported better-than-expected
results for its fourth quarter on Monday.
Sothebys posted quarterly adjusted earnings of $1.35 per share on revenue of $308.69 million. Analysts were expecting earnings
of $1.17 per share on revenue of $277.28 million.
Equities Trading UP
La Jolla Pharmaceutical Company (NASDAQ: LJPC)
shares shot up 58 percent to $31.41 as the company disclosed that ATHOS-3 Phase 3 efficacy endpoint is statistically
significant.
Shares of Gogo Inc (NASDAQ: GOGO) got a boost,
shooting up 16 percent to $10.61 after the company reported a narrower-than-expected quarterly loss.
Cellectar Biosciences Inc (NASDAQ: CLRB) shares
were also up, gaining 14 percent to $2.44 after the company issued Phase I trial update of CLR 131 in multiple myeloma.
Equities Trading DOWN
BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX)
shares dropped 15 percent to $4.69. BioCryst posted a Q4 loss of $0.06 per share on revenue of $8.98 million and reported that its
interim results from APeX-1 trial are 'positive.'
Shares of AmTrust Financial Services Inc (NASDAQ: AFSI) were down around 16 percent to $23.37 after the company posted downbeat Q4
earnings.
Shutterstock Inc (NYSE: SSTK) was down, falling
around 14 percent to $44.65 after the company reported downbeat Q4 results and issued a weak outlook.
Commodities
In commodity news, oil traded up 0.87 percent to $54.46 while gold traded down 0.16 percent to $1,256.30.
Silver traded down 0.01 percent Monday to $18.41, while copper fell 0.02 percent to $2.70.
Eurozone
European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.30 percent, the Spanish Ibex Index fell 0.08 percent,
while Italy’s FTSE MIB Index gained 0.90 percent. Meanwhile the German DAX gained 0.05 percent, and the French CAC 40 fell 0.09
percent while U.K. shares fell 0.05 percent.
Economics
U.S. durable-goods orders gained 1.8 percent for January, versus economists’ expectations for a 1.9 percent growth
The National Association of Realtors’ pending home sales index dropped 2.8 percent to 106.4 in January. However, economists were
expecting a 1.1 percent increase.
The Dallas Fed manufacturing index for February will be released at 10:30 a.m. ET.
Dallas Federal Reserve Bank President Robert Kaplan is set to speak in Norman, Okla. at 11:00 a.m. ET.
The Treasury will auction 3-and 6-month bills at 11:30 a.m. ET.
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