Market Overview

Mid-Afternoon Market Update: The ExOne Rallies as Cooper Tire & Rubber Renews its Plunge

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Toward the end of trading Monday, the Dow traded down 0.64 percent to 14,978.12 while the NASDAQ declined 0.72 percent to 3,780.59. The S&P also fell, dropping 0.55 percent to 1,681.81.

Top Headline
Time Warner Cable (NYSE: TWC) agreed to acquire DukeNet Communications LLC for $600 million in cash. The deal is likely to close in the first quarter of 2014.

Equities Trading UP
Outerwall (NASDAQ: OUTR) shot up 3.34 percent to $59.01 after Jana Partners LLC disclosed a major stake in the company.

Shares of Donegal Group (NASDAQ: DGICB) got a boost, shooting up 16.24 percent to $23.22 after Gregory Shepard offered $33-$37 per share for Donegal Group.

The ExOne (NASDAQ: XONE) was also up, gaining 2.04 percent to $45.00 as 3D printing stocks once again were spotlighted for today's trading session.

Equities Trading DOWN
Shares of Liquidity Services (NASDAQ: LQDT) were down 11.99 percent to $28.85 after Bank of America downgraded the stock from Buy to Underperform.

Deckers Outdoor (NASDAQ: DECK) was also down, dropping 6.71 percent to $63.67 after word of a negative report on the company from OTR global hit the street early today.

Cooper Tire & Rubber Co (NYSE: CTB) was down, falling 12.40 percent to $25.85 on news that its deal with Apollo appears to be in jeopardy.

Commodities
In commodity news, oil traded down 0.81 percent to $103.00, while gold traded up 0.95 percent to $1,322.40. Silver traded up 2.62 percent Monday to $22.30, while copper fell 0.11 percent to $3.30.

Eurozone
European shares were mostly lower today. The Spanish Ibex Index fell 0.41 percent, while Italy's FTSE MIB Index surged 0.66 percent. Meanwhile, the German DAX fell 0.36 percent and the French CAC 40 rose 0.03 percent while U.K. shares dropped 0.26 percent.

Economics
Data on consumer credit for August will be released at 3:00 p.m. ET.

Posted-In: Mid-Afternoon Market UpdateEarnings News Guidance Eurozone Commodities Forex Global Econ #s Economics Hot Intraday Update Markets Movers Tech

 

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