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Following the market opening Monday, the Dow traded up 0.28 percent to 16,454.65 while the NASDAQ surged 0.36 percent to 4,110.23. The S&P also rose, gaining 0.25 percent to 1,869.44.
Leading and Lagging Sectors
Monday morning, the healthcare sector proved to be a source of strength for the market. Leading the sector was strength from Sarepta Therapeutics
SRPT and Momenta Pharmaceuticals
MNTA.
In trading on Monday, basic materials shares were relative laggards, down on the day by about 0.28 percent. Top losers in the sector included POSCO
PKX, off 2.7 percent, and Century Aluminum Co
CENX, down 2.4 percent.
Top Headline
Halliburton
HAL posted a profit in the first quarter.
Halliburton swung to a quarterly profit of $622 million, or $0.73 per share, versus a year-ago loss of $18 million, or $0.02 per share. Its income from continuing operations came in at $0.73 per share.
Its total revenue climbed to $7.35 billion versus $6.97 billion. However, analysts were estimating earnings of $0.72 per share on revenue of $7.26 billion.
Equities Trading UP
Sarepta Therapeutics
SRPT shares shot up 52.70 percent to $37.26 on announcement that it
for Eteplirsen for the treatment of Duchenne Muscular Dystrophy by the year-end.
Shares of Advanced Micro Devices
AMD got a boost, shooting up 12.06 percent to $4.14 after the company reported upbeat quarterly earnings and issued a strong Q2 revenue forecast.
AstraZeneca PLC
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shares were also up, gaining 5.54 percent to $67.01 on report of potential acquisition by Pfizer
PFE.
Equities Trading DOWN
Shares of Moneygram International
MGI were down 9.52 percent to $13.40. JMP Securities downgraded Moneygram from Market Outperform to Market Perform.
Acacia Research
ACTG shares tumbled 6.21 percent to $16.00 after the company reported weaker-than-expected Q1 results.
athenahealth
ATHN was down, falling 4.46 percent to $139.08 after the company reported downbeat quarterly results. Morgan Stanley analyst Ricky R. Goldwasser removed the $133.00 price target on athenahealth.
Commodities
In commodity news,
oil traded down 0.14 percent to $104.15, while gold traded down 0.46 percent to $1,288.00.
Silver traded down 1 percent Monday to $19.40, while copper fell 0.02 percent to $3.03.
Euro zone
Europe's markets
were quiet with British, Italian, French and German markets all closed for Easter holidays.
Economics
The Chicago Fed National Activity Index rose to 0.20 in March, versus a prior reading of 0.14. However, economists were expecting a reading of 0.20.
The Conference Board's index of leading indicators rose 0.80% in March, versus economists' expectations for a 0.70% growth.
The Treasury is set to auction 3-and 6-month bills.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted In: EarningsNewsGuidanceEurozoneFuturesForexGlobalEcon #sEconomicsIntraday UpdateMarketsMoversTech
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