Mid-Afternoon Market Update: Celldex Therapeutics Rallies as Pandora Drops
Toward the end of trading Monday, the Dow traded down 0.33 percent to 15,399.45 while the NASDAQ declined 0.23 percent to 3,765.48. The S&P also fell, dropping 0.45 percent to 1,702.73.
Apple (NASDAQ: AAPL) reported that it has sold nine million new iPhone 5s and iPhone 5c models in the first three days after the launch of the new iPhones on Friday. Last September, Apple sold more than 5 million iPhone 5 models in the first three days after its launch. Apple also said that it estimates Q4 sales to be near the high end of its earlier projected range of $34 billion to $37 billion.
Shares of Apple (NASDAQ: AAPL) got a boost, shooting up 5.16 percent to $491.51 after the company reported that it has sold nine million new iPhone 5s and iPhone 5c models in the first weekend.
Celldex Therapeutics (NASDAQ: CLDX) was also up, gaining 12.12 percent to $32.46 after following a bullish report out of Leerink Swann.
Equities Trading DOWN
Shares of Pandora (NYSE: P) were down 10.15 percent to $24.25 as traders looked to take profit on the stock after shares posted a massive rally over the past 3 weeks.
J. C. Penney Company (NYSE: JCP) shares tumbled 4.78 percent to $12.33. JC Penney is in talks to raise more money, Bloomberg reported.
Northern Tier Energy LP (NYSE: NTI) was down, falling 7.37 percent to $18.10 after the company reported an operational issue with crude unit.
In commodity news, oil traded down 1.07 percent to $103.62, while gold traded down 0.73 percent to $1,322.40. Silver traded up 0.10 percent Monday to $21.80, while copper fell 0.54 percent to $3.30.
European shares were lower today. The Spanish Ibex Index dropped 0.68 percent, while Italy's FTSE MIB Index fell 0.32 percent. Meanwhile, the German DAX dropped 0.47 percent and the French CAC 40 fell 0.75 percent while U.K. shares declined 0.59 percent.
The Chicago Fed National Activity Index surged to +0.14 in August, versus -0.43 in July. The preliminary reading of Markit flash manufacturing PMI declined to 52.8 in September, versus a reading of 53.1 in August.
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