Midway through trading Monday, the Dow traded up 0.01 percent to 21,207.51 while the NASDAQ slipped 0.07 percent to 6,301.36.
The S&P also fell, dropping 0.06 percent to 2,437.69.
Leading and Lagging Sectors
Technology sector was the top gainer in the US market on Monday. Top gainers in the sector included VirnetX Holding
Corporation (NYSE: VHC), Asure Software Inc (NASDAQ:
ASUR), and CEVA, Inc. (NASDAQ: CEVA).
In trading on Monday, healthcare shares fell 0.54 percent. Meanwhile, top losers in the sector included NewLink Genetics
Corp (NASDAQ: NLNK), down 12 percent, and Achillion
Pharmaceuticals, Inc. (NASDAQ: ACHN), down 7
percent.
Top Headline
Herbalife Ltd. (NYSE: HLF) cut its sales forecast for
the current quarter.
Herbalife expects Q2 revenue to decline by 6 percent to 2 percent, versus earlier forecast of 0.5 percent to 4.5 percent
decline. It projects adjusted earnings of $0.95 to $1.15 per share, up from previous forecast of $0.88 to $1.08 per share.
Equities Trading UP
Forestar Group Inc. (NYSE: FOR) shares shot up 12
percent to $15.90 after D.R. Horton, Inc. (NYSE: DHI)
proposed to buy 75 percent of Forestar Group for $16.25 per share in cash.
Shares of Loxo Oncology Inc (NASDAQ: LOXO) got a
boost, shooting up 46 percent to $71.49 following the announcement of a 76 percent-confirmed objective response rate for the trial
of Larotrectinib for the treatment for multiple forms of cancer. Citigroup upgraded Loxo Oncology from Neutral to Buy.
Dynavax Technologies Corporation (NASDAQ: DVAX)
shares were also up, gaining 17 percent to $6.90 after the company on Friday presented updated data for SD-101 in combination with
KEYTRUDA.
Equities Trading DOWN
Microbot Medical Inc (NASDAQ: MBOT) shares dropped
29 percent to $2.71. Microbot Medical reported a $10 million registered direct offering
Shares of Juno Therapeutics Inc (NASDAQ: JUNO)
were down 9 percent to $23.98. Juno Therapeutics presented updated data from the TRANSCEND trial of JCAR017 at the ASCO Annual
Meeting.
Herbalife Ltd. (NYSE: HLF) was down, falling around 7
percent to $69.05 after the company cut its sales forecast for the current quarter.
Commodities
In commodity news, oil traded down 1.09 percent to $47.14 while gold traded up 0.23 percent to $1,283.10.
Silver traded up 0.40 percent Monday to $17.595, while copper fell 0.27 percent to $2.5675.
Eurozone
European shares were lower today. The eurozone’s STOXX 600 fell 0.06 percent, the Spanish Ibex Index rose 0.03 percent, while
Italy’s FTSE MIB Index fell 0.67 percent. Meanwhile the German DAX climbed 1.25 percent, and the French CAC 40 declined 0.56
percent while U.K. shares fell 0.20 percent.
Economics
U.S. nonfarm productivity was unchanged for the first quarter, versus economists’ expectations for a 0.20 percent decline. Unit
labor costs rose 2.20 percent for the quarter, versus estimates for a 2.50 percent growth.
US Services PMI declined to 53.60 in May, versus a prior reading of 54.00. Economists expected a reading of 54.10.
U.S. factory orders declined 0.2 percent for April, versus economists’ expectations for a 0.20 percent drop.
The ISM non-manufacturing index slipped to 56.90 for May, versus previous reading of 57.50. Economists were expecting a reading
of 57.00.
The Conference Board Employment Trends Index rose to 133.70 in May, versus a prior revised reading of 132.77.
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