Market Overview

Benzinga Mid-Morning Market Update

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Following the market opening Monday morning, the Dow traded up 0.11 percent to 13,357.57 while the NASDAQ rose 0.36 percent to 3,016.35. The S&P also rose, increasing 0.12 percent to 1,434.93.

As a heads up for the week, we have now entered the most busy period of earnings season. Some significant companies that will announce this week include Apple (NASDAQ: AAPL), Facebook (NASDAQ: FB), Amazon (NASDAQ: AMZN), Raytheon (NYSE: RTN), and Sprint Nextel (NYSE: S).

Top Headline Caterpillar (NYSE: CAT) posted an earnings beat Monday morning, but managed to significantly miss revenue expectations. The revenue miss has lead some pessimist investors to credit the earnings beat to accounting tricks, rather than good company fundamentals.

Equities Trading UP Peabody Energy (NYSE: BTU) traded up 12.55 percent to $29.14 Monday morning, after the company posted a significant beat in both EPS and Revenue.

Ancestry.com (NASDAQ: ACOM) also saw a boost Monday morning, rising 7.88 percent to $31.48 after the company announced that it would be acquired by Permira for $1.6 billion, or $32.00 per share.

Shares Arch Coal (NYSE: ACI) traded up as well, increasing 8.47 percent to $8.58, possibly linked to the Peabody Energy rally.

Equities Trading DOWN Nexen (NYSE: NXY) fell 5.75 percent to $23.94 following investor fears that its takeover deal with CNOOC may be blocked.

Nielsen Holdings (NYSE: NLSN) also fell, down 5.04 percent to $29.87 despite an earnings beat Monday morning.

V.F. Corporation (NYSE: VFC) traded down 4.15 percent to $159.85 despite an earnings beat Monday morning and positive fiscal year forecast.

Commodities In commodity news, oil traded down 0.01 percent to $90.04, while gold traded up 0.21 percent to $1,727.70.

Silver traded down 0.84 percent Monday to $32.40.

Euro Zone In the EU this morning, the European Commission said that the Troika will complete technical talks on Greece within the next few days, so be on the lookout for a major release on the EU's strategy for the struggling Greek economy.

Following its earnings release, Caterpillar stated that some countries may pull out of the Eurozone according to its analysis, providing a very contradictory outlook to what European leaders have been displaying.

Economics There are no major economic releases for Monday.

Posted-In: Earnings News Guidance Rumors Commodities M&A Events Global

 

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