Midway through trading Monday, the Dow traded down 0.10 percent to 21,652.09 while the NASDAQ declined 0.37 percent to 6,193.36.
The S&P also fell, dropping 0.07 percent to 2,423.78.
Leading and Lagging Sectors
On Monday, the telecommunications services shares climbed by 0.71 percent. Meanwhile, top gainers in the sector included B
Communications Ltd (NASDAQ: BCOM), up 11 percent, and
Internet Gold Golden Lines Ltd (NASDAQ: IGLD), up 10
percent.
In trading on Monday, technology shares fell by 0.60 percent. Meanwhile, top losers in the sector included Canadian Solar
Inc. (NASDAQ: CSIQ), down 6 percent, and VirnetX
Holding Corporation (NYSE: VHC) down 5 percent.
Top Headline
Sempra Energy (NYSE: SRE) announced plans to acquire
Oncor for $9.45 billion in cash.
Sempra Energy projects the deal to complete in the first half of 2018.
Equities Trading UP
Coherus Biosciences Inc (NASDAQ: CHRS) shares shot
up 15 percent to $12.77 after the company announced plans to raise up to $150 million in a private placement.
Shares of NACCO Industries, Inc. (NYSE: NC) got a
boost, shooting up 11 percent to $73.45. NACCO Industries disclosed that its subsidiary Hamilton Beach Brands has filed to trade as
an independent company. The company announced the retirement of its CEO following Hamilton Beach Brands spin off.
Herbalife Ltd. (NYSE: HLF) shares were also up,
gaining 10 percent to $68.07 after the company said it has begun a modified Dutch auction self-tender offer to acquire up to $600
million worth of its stock.
Equities Trading DOWN
Francesca's Holdings Corp (NASDAQ: FRAN) shares
dropped 14 percent to $6.86. Francesca’s reported the departure of Laurie Hummel, EVP and Chief Merchandising Officer. The company
reported preliminary Q2 earnings of $0.20 per share.
Shares of CARDIOME PHARMA CORP (NASDAQ: CRME) were
down 38 percent to $2.40 after the company issued U.S. regulatory update for BRINAVESS. The FDA advised Cardiome that the data
package proposed is not sufficient to support re-submission of the BRINAVESS NDA.
Digital Ally, Inc. (NASDAQ: DGLY) was down,
falling around 12 percent to $2.95. Digital Ally priced 1 million shares equity offering at $3 per share.
Commodities
In commodity news, oil traded down 1.55 percent to $47.76 while gold traded up 0.43 percent to $1,297.10.
Silver traded up 0.35 percent Monday to $17.06, while copper rose 1.54 percent to $3.007.
Eurozone
European shares were lower today. The eurozone’s STOXX 600 dropped 0.51 percent, the Spanish Ibex Index fell 0.30 percent, while
Italy’s FTSE MIB Index declined 0.58 percent. Meanwhile the German DAX dropped 0.96 percent, and the French CAC 40 slipped 0.75
percent while U.K. shares fell 0.20 percent.
Economics
The Chicago Fed National Activity Index dropped to -0.01 in July, versus prior reading of 0.13.
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