Market Overview

Mid-Day Market Update: Crocs Surges After Blackstone Investment Announcement; Twitter Shares Slip

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Midway through trading Monday, the Dow traded up 0.04 percent to 16,484.77 while the NASDAQ declined 0.08 percent to 4,153.09. The S&P also fell, dropping 0.05 percent to 1,840.48.

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 17.33 percent to $15.64 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 7 percent to $14.07 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 5.42 percent to $40.07 after the company announced settlement and license agreement with Sumitomo Chemical.

Equities Trading DOWN
Shares of Twitter (NYSE: TWTR) were down 5.62 percent to $60.17 after tumbling 13.04% on Friday. Twitter shares surged to an all-time high of $74.73 on Thursday.

Myriad Genetics (NASDAQ: MYGN) tumbled 14.87 percent to $20.55. Myriad expressed concerns over CMS not valuing BRCA 2 gene in 81211 code, CMS 81211 payment rate. Mizuho Securities downgraded the stock from Buy to Neutral.

Facebook (NASDAQ: FB) was down, falling 2.67 percent to $53.96. Facebook shares have jumped 108.26 percent over the past 52 weeks.

In commodity news, oil traded down 0.72 percent to $99.60, while gold traded down 0.77 percent to $1,204.70.

Silver traded down 1.94 percent Monday to $19.66, while copper rose 0.03 percent to $3.39.

European shares were mostly lower today. The Spanish Ibex Index rose 0.02 percent, while Italy's FTSE MIB Index climbed 0.06 percent. Meanwhile, the German DAX dropped 0.39 percent and the French CAC 40 fell 0.05 percent while U.K. shares declined 0.29 percent.

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

The Dallas Fed general business activity index rose to 3.10 in December, versus a prior reading of 1.90. However, economists were expecting a reading of 4.00.

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

Posted-In: Earnings News Guidance Eurozone Futures Forex Global Econ #s Economics Intraday Update Markets Movers Tech


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