Midway through trading Monday, the Dow traded down 0.39 percent to 20,515.95 while the NASDAQ fell 0.21 percent to 5,816.77. The
S&P also fell, dropping 0.34 percent to 2,336.13.
Leading and Lagging Sectors
Healthcare shares rose by 0.53 percent on Monday. Meanwhile, top gainers in the sector included Impax Laboratories Inc
(NASDAQ: IPXL), up 27 percent, and ZIOPHARM Oncology
Inc. (NASDAQ: ZIOP), up 12 percent.
In trading on Monday, basic materials shares slipped by 0.68 percent. Meanwhile, top losers in the sector included Aluminum
Corp. of China Limited (ADR) (NYSE: ACH), down 6 percent,
and Sealed Air Corp (NYSE: SEE), off 5 percent.
Top Headline
G-III Apparel Group, Ltd. (NASDAQ: GIII) reported
downbeat results for its fourth quarter.
G-III Apparel posted a Q4 loss of $0.16 per share on revenue of $603.29 million. Analysts were expecting earnings of $0.10 per
share on revenue of $622.76 million.
G-III expects FY 2018 earnings of $0.80 to $0.90 per share, and revenue of $2.73 billion. Analysts projected earnings of $1.41
per share on revenue of $2.88 billion.
Equities Trading UP
Cellect Biotechnology Ltd. (NASDAQ: APOP) shares
shot up 65 percent to $10.32 after the company disclosed that the first stem cell transplant has been completed in its Phase I/II
trial.
Shares of Impax Laboratories Inc (NASDAQ: IPXL)
got a boost, shooting up 26 percent to $11.65. Impax named Paul Bisaro as CEO.
Systemax Inc. (NYSE: SYX) shares were also up,
gaining 27 percent to $9.15 as the company agreed to sell all of its unprofitable European Technology Products Group
businesses.
Equities Trading DOWN
Foamix Pharmaceuticals Ltd (NASDAQ: FOMX) shares
tumbled 43 percent to $5.16 after the company reported the topline results of its two Phase 3 trials for FMX101 in patients with
moderate-to-severe acne. The company did not demonstrate statistical significance on one of two primary endpoints.
Shares of G-III Apparel Group, Ltd. (NASDAQ: GIII)
were down 13 percent to $19.84 after the company reported downbeat results for its fourth quarter and issued a weak forecast.
Sierra Wireless, Inc. (USA) (NASDAQ: SWIR) was
down, falling 8 percent to $27.35. Raymond James downgraded Sierra Wireless from Outperform to Market Perform.
Commodities
In commodity news, oil traded down 0.48 percent to $47.74, while gold traded up 0.41 percent to $1,256.80.
Silver traded up 1.62 percent Monday to $18.04, while copper fell 2 percent to $2.58.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 fell 0.44 percent, the Spanish Ibex Index dropped 0.17 percent, while
Italy’s FTSE MIB Index declined 0.47 percent. Meanwhile, the German DAX declined 0.66 percent, and the French CAC 40 fell 0.16
percent while UK shares dropped 0.59 percent.
Economics
The Treasury will also auction 2-year notes at 1:00 p.m. ET.
Chicago Federal Reserve Bank President Charles Evans is set to speak in Madrid, Spain at 1:15 p.m. ET.
Dallas Federal Reserve Bank President Dennis Kaplan will speak in College Station, Texas at 6:30 p.m. ET.
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