Mid-Afternoon Market Update: 3D Printing Names Take a Hit From Barron's Piece as Fuel Cell Names Continue Rally
Toward the end of trading Monday, the Dow traded down 0.35 percent to 16,394.25 while the NASDAQ tumbled 0.22 percent to 4,326.42. The S&P also fell, dropping 0.20 percent to 1,874.34.
Leading and Lagging Sectors
In trading on Monday, healthcare shares declined by about 0.09 percent. Top gainers in the sector were Idera Pharmaceuticals (NASDAQ: IDRA), Galena Biopharma (NASDAQ: GALE),Alexion Pharmaceuticals (NASDAQ: ALXN) and Peregrine Pharmaceuticals (NASDAQ: PPHM).
Basic materials sector was the leading decliner in the US market today. Among the sector stocks,Cliffs Natural Resources (NYSE: CLF) was down more than 4.6 percent, while Companhia Siderurgica Nacional (NYSE: SID) tumbled around 4.4 percent.
McDonald's (NYSE: MCD) reported a 0.3% drop in its global same-store sales in February. Analysts were expecting a 0.1% decline in global comparable sales. McDonald's US same-store sales fell 1.4% in February, versus analysts' expectations for a 0.6% drop. Comparable sales rose 0.6% in Europe, while sales tumbled 2.6% in Asia/Pacific, Middle East and Africa.
Equities Trading UP
Capstone Turbine (NASDAQ: CPST) was on the rise on Monday's session, gaining 7.10 percent to $1.96 despite there being little tangible news on the company.
Shares of FuelCell Energy (NASDAQ: FCEL) got a boost, shooting up 11.19 percent to $3.92 ahead of quarterly earnings after the closing bell. FuelCell Energy is estimated to post a Q1 loss at $0.04 per share on revenue of $43.44 million.
Equities Trading DOWN
Shares of Walter Energy (NYSE: WLT) were down 9.19 percent to $9.49 after the company commenced process to amend credit facility.
3D Systems (NYSE: DDD) was also down, falling 5.20 percent to $63.84 after Barron's put out a bearish piece on the 3D printing sector over the weekend.
Perfect World Co (NASDAQ: PWRD) was down, falling 6.47 percent to $23.41 after the company reported its recent business developments. Perfect World is expected to post its Q4 earnings at $0.43 per share on revenue of $142.11 million.
In commodity news, oil traded down 1.46 percent to $101.08, while gold traded up 0.17 percent to $1,341.70.
Silver traded down 0.64 percent Monday to $20.81, while copper fell 1.33 percent to $3.04.
European shares were mostly lower today.
The Spanish Ibex Index fell 0.02 percent, while Italy's FTSE MIB Index climbed 0.21 percent.
Meanwhile, the German DAX dropped 1.05 percent and the French CAC 40 declined 0.11 percent while U.K. shares fell 0.40 percent.
Chicago Fed President Charles Evans is expected to speak today.
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