Benzinga Mid-Afternoon Market Update
The markets slowed their rally mid-way through the afternoon Monday, the Dow was up about 0.78 percent, to 13,542.16. The NASDAQ rose as well, up about 0.10 percent, to 3,119.20, while the S&P traded up 0.48 percent, increasing to 1,447.56.
TRW Automotive (NYSE: TRW) rose quickly in early trading following the announcement that it would buy back $1 billion in shares. TRW traded up 7.55 percent to $47.01.
Shares of Transocean (NYSE: RIG) were also up, trading up 3.25 percent to $46.35 after the announcement that a Brazilian preliminary injunction against the company had been lifted.
Tenet Healthcare (NYSE: THC) rallied 3.51 percent in early trading to $6.49, following an announcement that the company would perform a one-for-four reverse stock split.
Facebook (NASDAQ: FB) also got a boost, following an appearance from its COO, Sheryl Sandberg, on CNBC. Shares rose 0.78 percent to $21.83.
Shares of Goldman Sachs (NYSE: GS) rose 2.64 percent to $116.68, following a positive article in Barron's over the weekend.
Houston American Energy (NYSE: HUSA) hit a new 52 week low following its announcement of a new $10 million stock offering. Share prices fell 28.87 percent to $0.64.
Ratheon (NYSE: RTN) took a bit of a hit Monday after a downgrade at Bank of America. Shares fell 2.12 percent to $55.46.
Sprint Nextel (NYSE: S) fell 5.80 percent to $5.20 following a cut at Ramond James.
In economic news, the ISM manufacturing index came in at 51.5, above the expected 49.8 and the prior figure of 49.6. Construction spending month over month came in below expected at -0.6% versus the 0.5% estimate, while ISM prices paid came in at 58, above the estimated 55.8 and the prior figure of 54.
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