Midway through trading Monday, the Dow traded up 0.07 percent to 21,429.42 while the NASDAQ climbed 0.27 percent to 6,169.68.
The S&P also rose, gaining 0.16 percent to 2,429.05.
Leading and Lagging Sectors
Technology shares rose by 1.7 percent in the US market on Monday. Top gainers in the sector included Microvision, Inc.
(NASDAQ: MVIS), and Mitek Systems, Inc. (NASDAQ:
MITK).
In trading on Monday, cyclical consumer goods & services shares fell 0.20 percent. Meanwhile, top losers in the sector included
Abercrombie & Fitch Co. (NYSE: ANF), down 21 percent,
and Big 5 Sporting Goods Corporation (NASDAQ: BGFV),
down 8 percent.
Top Headline
Helen of Troy Limited (NASDAQ: HELE) reported
better-than-expected earnings for its first quarter on Monday.
Helen of Troy posted Q1 earnings of $1.37 per share on revenue of $359.61 million. However, analysts were expecting earnings of
$1.26 per share on sales of $358.40 million.
Helen of Troy expects FY 2018 earnings of $6.50 to $6.90 per share, on revenue of $1.56 billion to $1.60 billion. Analysts
expected earnings of $6.67 per share on revenue of $1.58 billion.
Equities Trading UP
ClubCorp Holdings Inc (NYSE: MYCC) shares shot up 30
percent to $17.05 after the company disclosed that it has entered into a definitive agreement with affiliates of certain investment
funds managed by affiliates of Apollo Global Management LLC (NYSE: APO) to acquire all of the outstanding shares of ClubCorp for $17.12 per share in
cash.
Shares of Hawaiian Telcom HoldCo Inc (NASDAQ: HCOM) got a boost, shooting up 21 percent to $29.48 as the company agreed to be
acquired by Cincinnati Bell Inc. (NYSE: CBB) for $30.75
per share cash and stock.
AVEO Pharmaceuticals, Inc. (NASDAQ: AVEO) shares
were also up, gaining 9 percent to $3.03 ahead of regulatory decision from the European Commission on tivozanib drug.
Equities Trading DOWN
Abercrombie & Fitch Co. (NYSE: ANF) shares dropped 21
percent to $9.57 on news that it had terminated talks for a potential sale. The board announced in a press release that the best
conceived way to increase shareholder value is through pursuit of its enduring strategy.
Shares of LeMaitre Vascular Inc (NASDAQ: LMAT)
were down 14 percent to $27.65. Benchmark and Canaccord Genuity downgraded LeMaitre Vascular from Buy to Hold.
Cincinnati Bell Inc. (NYSE: CBB) was down, falling
around 7 percent to $18.00 as Hawaiian Telcom HoldCo Inc (NASDAQ: HCOM) agreed to be acquired by Cincinnati Bell for $30.75 per share cash and
stock.
Commodities
In commodity news, oil traded up 0.61 percent to $44.46 while gold traded up 0.26 percent to $1,212.90.
Silver traded up 0.97 percent Monday to $15.575, while copper fell 0.02 percent to $2.6465.
Eurozone
European shares were higher today. The eurozone’s STOXX 600 rose 0.44 percent, the Spanish Ibex Index rose 0.20 percent, while
Italy’s FTSE MIB Index gained 0.84 percent. Meanwhile the German DAX gained 0.46 percent, and the French CAC 40 rose 0.45 percent
while U.K. shares rose 0.26 percent.
Economics
The Conference Board Employment Trends Index slipped to 133.32 for June, versus a prior reading of 133.70.
The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.
The TD Ameritrade Investor Movement Index for June is schedule for release at 12:30 p.m. ET.
Data on consumer credit for May will be released at 3:00 p.m. ET.
San Francisco Federal Reserve Bank President John C. Williams is set to speak in Sydney, New South Wales at 11:05 p.m. ET.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.