Market Overview

Mid-Morning Market Update: Markets Mixed; Cal-Maine Foods FQ2 Net Profit Rises 83%

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Following the market opening Monday, the Dow traded up 0.05 percent to 16,486.63 while the NASDAQ declined 0.21 percent to 4,147.91. The S&P also fell, dropping 0.06 percent to 1,840.25.

Top Headline
Cal-Maine Foods (NASDAQ: CALM) reported an 83% rise in its fiscal second-quarter net income.

Cal-Maine's quarterly net income surged to $26.1 million, or $1.08 per share, from $14.3 million, or $0.60 per share, in the year-ago period.

Its revenue climbed 8% to $354.3 million from $328.9 million.

Equities Trading UP
Shares of Crocs (NASDAQ: CROX) got a boost, shooting up 13.50 percent to $15.13 after the company reported that it will receive a $200 million investment from Blackstone Group LP (NYSE: BX). Sterne Agee upgraded the stock from Underperform to Neutral.

Trina Solar (NYSE: TSL) shot up 6.46 percent to $14.00 after the company signed an investment framework agreement to develop 1GW solar power plant project in Xinjiang, Western China.

Polypore International (NYSE: PPO) was also up, gaining 4.74 percent to $39.81 after the company announced settlement and license agreement with Sumitomo Chemical.

Equities Trading DOWN
Shares of Twitter (NYSE: TWTR) were down 6.43 percent to $59.65 after tumbling 13.04% on Friday. Twitter shares surged to an all-time high of $74.73 on Thursday.

Cooper Tire & Rubber Co (NYSE: CTB) tumbled 2.92 percent to $22.29 after the company terminated a merger agreement with Apollo Tyres.

Facebook (NASDAQ: FB) was down, falling 1.40 percent to $54.67. Facebook shares have jumped 108.26 percent over the past 52 weeks.

Commodities
In commodity news, oil traded down 0.42 percent to $99.90, while gold traded down 0.60 percent to $1,206.70.

Silver traded down 1.92 percent Monday to $19.67, while copper fell 0.12 percent to $3.38.

Eurozone
European shares were mostly lower today. The Spanish Ibex Index dropped 0.15 percent, while Italy's FTSE MIB Index climbed 0.06 percent. Meanwhile, the German DAX dropped 0.39 percent and the French CAC 40 jumped 0.05 percent while U.K. shares declined 0.33 percent.

Economics
The NAR's pending home sales index rose 0.20% in November, versus economists' expectations for a 1.00% gain.

The Treasury is set to auction 3-and 6-month bills.

Data on farm prices will be released at 3:00 p.m. ET.

Posted-In: Earnings News Guidance Eurozone Futures Commodities Forex Global

 

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