: Dean Foods Gains On Upbeat Earnings; Kandi Technologies Shares Dip

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Toward the end of trading Monday, the Dow traded down 1.18 percent to 17,698.28 while the NASDAQ declined 1.30 percent to 5,080.07. The S&P also fell, dropping 1.20 percent to 2,074.08.
Leading and Lagging Sectors
In trading on Monday, utilities shares slipped by just 0.3 percent. Top gainers in the sector included
Chesapeake Utilities CorporationCPK
, up 7 percent, and
TransAlta Corporation (USA)TAC
, up 3 percent. Cyclical consumer goods & services shares declined around 1.62 percent in Monday's trading. Meanwhile, top losers in the sector included
Kandi Technologies Group IncKNDI
, down 15 percent, and
Titan International IncTWI
, off 13 percent.
Top Headline Priceline Group IncPCLN
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.
Equities Trading UP Plum Creek Timber Co. Inc.PCL
shares shot up 17 percent to $47.16 after
Weyerhaeuser Co
WY
announced its plans to buy Plum Creek Timber in an $8.44 billion deal. Shares of
Apache CorporationAPA
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got a boost, shooting up 12 percent to $53.42. Apache rejected a takeover bid from unidentified buyer, according to Bloomberg.
Dean Foods CoDF
shares were also up, gaining 6 percent to $18.94 after the company reported better-than-expected earnings for the third quarter and issued a strong forecast.
Equities Trading DOWN Kandi Technologies Group IncKNDI
shares tumbled 15 percent to $9.15. Kandi Technologies reported Q3 earnings of $0.13 per share on revenue of $50.5 million. Shares of
Kronos Worldwide, Inc.KRO
were down 13 percent to $7.08. Kronos Worldwide reported a Q3 adjusted loss of $0.03 per share on revenue of $336.5 million.
Priceline Group IncPCLN
was down, falling 10 percent to $1,311.90. Priceline reported better-than-expected earnings for the third quarter, but the company issued a weak earnings forecast for the current quarter.
Commodities
In commodity news, oil traded down 0.93 percent to $43.88, while gold traded up 0.18 percent to $1,089.70. Silver traded down 1.57 percent Monday to $14.46, while copper fell 0.62 percent to $2.23.
Eurozone
European shares closed lower today. The eurozone's STOXX 600 slipped 1.07 percent, the Spanish Ibex Index declined 1.22 percent, while Italy's FTSE MIB Index dipped 1.88 percent. Meanwhile, the German DAX declined 1.57 percent, and the French CAC 40 slipped 1.46 percent, while U.K. shares fell 0.92 percent.
Economics
On the economics calendar Monday, there is no important data due out.
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Posted In: EarningsNewsGuidanceEurozoneCommoditiesM&AIntraday UpdateMarketsMoversMid-Afternoon Market Update
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