Mid-Day Market Update: SodaStream Drops After Weak Outlook; Beam Shares Spike Higher
Midway through trading Monday, the Dow traded down 0.10 percent to 16,420.87 while the NASDAQ surged 0.06 percent to 4,177.29. The S&P also fell, dropping 0.07 percent to 1,841.16.
Lululemon Athletica (NASDAQ: LULU) lowered its guidance for the quarter. Lululemon now projects FQ4 earnings of $0.71 to $0.73 per share, versus its December outlook of $0.78 to $0.80 per share.
It expects revenue of $513 million to $518 million, versus its earlier forecast of $535 million to $540 million.
Equities Trading UP
Shares of Alnylam Pharmaceuticals (NASDAQ: ALNY) got a boost, shooting up 53.25 percent to $101.47 after the company reported that it has acquired investigational RNAi Therapeutic assets from Merck (NYSE: MRK). Genzyme and Alnylam expanded their collaboration on rare genetic diseases.
Clovis Oncology (NASDAQ: CLVS) was also up, gaining 7.26 percent to $79.35 after the company announced 2014 objectives and financial outlook. The company projected to initiate three global registration studies for CO-1686.
Equities Trading DOWN
Shares of SodaStream International (NASDAQ: SODA) were down 21.163 percent to $39.10 after the company lowered its FY13 forecast.
Lululemon Athletica (NASDAQ: LULU) tumbled 15.53 percent to $50.35 after the company cut its outlook. Ascena Retail Group (NASDAQ: ASNA) was down, falling 6.06 percent to $20.61 after the company lowered its FY14 earnings guidance.
In commodity news, oil traded down 0.60 percent to $92.16, while gold traded up 0.31 percent to $1,250.80. Silver traded up 0.31 percent Monday to $20.28, while copper fell 0.09 percent to $3.34.
European shares were higher today. The Spanish Ibex Index rose 0.69 percent, while Italy's FTSE MIB Index surged 0.66 percent. Meanwhile, the German DAX climbed 0.32 percent and the French CAC 40 rose 0.30 percent while U.K. shares gained 0.19 percent.
The US Treasury monthly budget report for December will be released at 2:00 p.m. ET.
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