Following the market opening Monday, the Dow traded down 0.12 percent to 20,982.70 while the NASDAQ declined 0.09 percent to
6,095.48. The S&P also fell, dropping 0.07 percent to 2,397.58.
Leading and Lagging Sectors
Energy sector was the top gainer in the US market on Monday. Top gainers in the sector included Kosmos Energy Ltd (NYSE:
KOS), Northern Oil & Gas, Inc. (NYSE: NOG), and Approach Resources Inc. (NASDAQ: AREX).
In trading on Monday, basic materials shares were relative laggards, down on the day by about 0.67 percent. Meanwhile, top
losers in the sector included Northwest Pipe Company (NASDAQ: NWPX), down 4 percent, and Koppers Holdings Inc. (NYSE: KOP), down 3 percent.
Top Headline
Tyson Foods, Inc. (NYSE: TSN) posted downbeat
earnings for its first quarter on Monday.
Tyson said it earned $1.01 per share in the first quarter on revenue of $9.08 billion; Analysts were expecting the company to
earn $1.02 per share on revenue of $9.05 billion.
Tyson Foods expects FY 2017 earnings of $4.90 to $5.05 per share, versus analysts’ estimates of $5.02 per share.
Equities Trading UP
Straight Path Communications Inc (NYSE: STRP) shares
shot up 30 percent to $210.41. Straight Path Communications disclosed that the $184 per share bid from a multi-national telecom
company is superior to AT&T's bid.
Shares of SGOCO Group Ltd (NASDAQ: SGOC) got a
boost, shooting up 18 percent to $1.89 after the company reported the purchase of Century Skyway Limited.
Petmed Express Inc (NASDAQ: PETS) shares were also
up, gaining 16 percent to $28.00 after the company posted upbeat quarterly results.
Equities Trading DOWN
Horizon Pharma PLC (NASDAQ: HZNP) shares dropped
32 percent to $10.64 as the company posted downbeat Q1 earnings and lowered its FY 2017 guidance. The company also announced plans
to acquire River Vision for $145 million in cash.
Shares of TherapeuticsMD Inc (NYSE: TXMD) were down
around 22 percent to $3.66 after the company after the company announced it has received a Complete Response
Letter (CRL) from the U.S. Food and Drug Administration. The letter is in response to the company's New Drug Application (NDA)
for its investigational applicator-free estradiol vaginal softgel capsule called TX-004HR. TherapeuticsMD said in its press release
that while the letter didn't identify any issues related to the efficacy of the therapy, the FDA couldn't approve TX-004HR at this
time. Specifically, the FDA cited a lack of long-term endometrial safety data beyond the 12-week period, which was explored in a
Phase 3 clinical study called Rejoice Trial.
Kite Pharma Inc (NASDAQ: KITE) was down, falling
around 10 percent to $73.39 as the company posted a wider-than-expected Q1 loss.
Commodities
In commodity news, oil traded down 0.65 percent to $45.92 while gold traded up 0.42 percent to $1,232.00.
Silver traded up 0.28 percent Monday to $16.32, while copper fell 1.66 percent to $2.4865.
Eurozone
European shares were lower today. The eurozone’s STOXX 600 dropped 0.25 percent, the Spanish Ibex Index fell 0.76 percent, while
Italy’s FTSE MIB Index slipped 0.46 percent. Meanwhile the German DAX dropped 0.24 percent, and the French CAC 40 declined 0.97
percent while U.K. shares rose 0.11 percent.
Economics
The Consumer Board Employment Trends Index rose to 132.64 for April, versus a prior reading of 131.40.
The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.
The TD Ameritrade Investor Movement Index for April will be released at 12:30 p.m. ET.
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