Mid-Afternoon Market Update: KapStone Paper Rises as Markets Turn to Mixed Territory
Toward the end of trading Monday, the Dow traded down 0.05 percent to 15,240.40 while the NASDAQ gained 0.08 percent to 3,472.12. The S&P also fell, dropping 0.01 percent to 1,643.84.
McDonald's (NYSE: MCD) reported a 2.6% rise in its global comparable sales in May.
McDonald's systemwide sales jumped 3.6% in May; while US sales climbed 2.4%. Its global comparable sales declined 1.0% during the first quarter.
Equities Trading UP
KapStone Paper and Packaging (NYSE: KS) jumped up midway through the afternoon session Monday, gaining 18.10 percent to $35.10 after the company announced it would buy Longview Fibre for $1.03 billion.
Shares of Monsanto Company (NYSE: MON) got a boost, shooting up 4.47 percent to $106.20 after Macquarie upgraded the stock from “neutral” to “outperform.”
SunPower (NASDAQ: SPWR) was up as well, gaining 9.16 percent to $21.43, riding the bullish Canadian Solar headlines from earlier in the day.
Equities Trading DOWN
Rovi (NASDAQ: ROVI) was down, falling 4.15 percent to $25.41 after the company reported it is working with Broadcom (NASDAQ: BRCM) to enable HEVC playback across multiple screens.
Shares of Titan International (NYSE: TWI) were down 13.81 percent to $17.85 after William Blair downgraded the stock to “market perform.”
Booz Allen Hamilton Holding (NYSE: BAH) shares tumbled 3.11 percent to $17.44 after it was announced that the culprit behind the massive NSA data leak was a contractor at the company.
In commodity news, oil traded down 0.25 percent to $95.79, while gold traded up 0.22 percent to $1,386.10.
Silver traded up 1.52 percent Monday to $22.00, while copper fell 0.95 percent to $3.23.
European shares were mixed today. The Spanish Ibex Index fell 0.50 percent and the Italian FTSE MIB Index dropped 0.81 percent. Meanwhile, the German DAX climbed 0.67 percent and the French CAC 40 fell 0.24 percent while U.K. shares gained 1.02 percent.
The Investor Movement Index for May was released this morning, coming in at 5.02, slightly below the previous figure of 5.31.
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