Mid-Day Market Update: Dow Tumbles Over 200 Points; Plum Creek Timber Shares Jump Following Weyerhaeuser Deal

Midway through trading Monday, the Dow traded down 1.25 percent to 17,686.95 while the NASDAQ declined 1.43 percent to 5,073.71. The S&P also fell, dropping 1.32 percent to 2,071.42.

In trading on Monday, utilities shares rose by 0.19 percent. Top gainers in the sector included

, up 3.2 percent, and

, up 2.9 percent. Cyclical consumer goods & services shares declined around 1.28 percent in Monday's trading. Meanwhile, top losers in the sector included

, down 19 percent, and

, off 9 percent.

reported better-than-expected earnings for the third quarter, but the company issued a weak earnings forecast for the current quarter. The Norwalk, Connecticut-based company reported quarterly net income of $1.2 billion, or $23.41 per share, compared to $1.06 billion, or $20.03 per share, in the year-ago quarter. Excluding items, the company's adjusted earnings surged to $25.35 per share from $22.16 per share. Its revenue increased 9.4 percent to $3.10 billion. However, analysts were projecting earnings of $24.23 per share on revenue of $3.05 billion. Priceline expects Q4 adjusted earnings of $11.10 to $11.90 per share, versus analysts' estimates of $12.42 per share. The company also projects gross travel bookings to increase 1 percent to 8 percent.

shares shot up 16 percent to $46.84 after

announced its plans to buy Plum Creek Timber in an $8.44 billion deal. Shares of

got a boost, shooting up 11 percent to $53.05. Apache rejected a takeover bid from unidentified buyer and is working with Goldman Sachs, according to Bloomberg.

shares were also up, gaining 10 percent to $6.79. Blout International reported Q3 earnings of $0.25 per share on revenue of $209 million.

shares tumbled 18 percent to $8.84. Kandi Technologies reported Q3 earnings of $0.13 per share on revenue of $50.5 million. Shares of

were down 15 percent to $6.93. Kronos Worldwide reported a Q3 adjusted loss of $0.03 per share on revenue of $336.5 million.

was down, falling 9 percent to $1,316.47. Priceline reported better-than-expected earnings for the third quarter, but the company issued a weak earnings forecast for the current quarter.

In commodity news, oil traded down 0.70 percent to $43.98, while gold traded up 0.12 percent to $1,089.00. Silver traded down 0.99 percent Monday to $14.55, while copper fell 0.04 percent to $2.24.

European shares were lower today. The eurozone's STOXX 600 slipped 0.78 percent, the Spanish Ibex Index declined 0.78 percent, while Italy's FTSE MIB Index dipped 1.04 percent. Meanwhile, the German DAX declined 0.98 percent, and the French CAC 40 slipped 1.03 percent, while U.K. shares fell 0.67 percent.

On the economics calendar Monday, there is no important data due out.