Mid-Day Market Update: Qlik Technologies Surges Amid Potential Sale; VirtualScopics Shares Decline

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Midway through trading Monday, the Dow traded down 0.09 percent to 17,500.19 while the NASDAQ declined 0.20 percent to 4,763.90. The S&P also fell, dropping 0.13 percent to 2,033.35.
Leading and Lagging Sectors
On Monday, cyclical consumer goods & services shares gained by 0.40 percent. Meanwhile, top gainers in the sector included
Mattress Firm Holding CorpMFRM
, up 5 percent, and
Finish Line IncFINL
, up 10 percent. In trading on Monday, energy shares dipped by 0.82 percent. Meanwhile, top losers in the sector included
Basic Energy Services, IncBAS
, down 9 percent, and
Unit CorporationUNT
, down 8 percent.
Top HeadlineCal-Maine Foods IncCALM
reported better-than-expected earnings for its third quarter on Monday. Cal-Maine reported Q3 earnings of $1.33 per share on revenue of $449.8 million. However, analysts were expecting earnings of $0.99 per share on revenue of 463.6 million.
Equities Trading UP Alder Biopharmaceuticals IncALDR
shares shot up 57 percent to $26.92. Alder reported that it has met primary and secondary endpoints in Phase 2b ALD403 trial. Shares of
Finish Line Inc
FINL
got a boost, shooting up 11 percent to $21.09. BB&T Capital upgraded Finish Line from Hold to Buy. Monness Crespi Hardt upgraded Finish Line from Neutral to Buy. Citigroup maintained Finish Line with a Buy rating and raised the price target from $20.00 to $23.00.
Qlik Technologies Inc QLIK
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shares were also up, gaining 8 percent to $28.75. Reuters on Friday reported Qlik Technologies is exploring strategic alternatives, including a sale of itself as the company has come under pressure from a major shareholder and activist investor, Elliott Management.
Equities Trading DOWN Apricus Biosciences IncAPRI
shares dropped 47 percent to $0.716 on discontinuation of fispemifene in secondary hypogonadism. Shares of
VirtualScopics IncVSCP
were down 11 percent to $4.01 after the company agreed to be acquired by
BioTelemetry, Inc. BEAT
for a total purchase of around $15.5 million.
Pandora Media IncP
was down, falling around 9 percent to $9.91 after the company announced a new lineup of senior executives. Pandora named Tim Westergren as CEO and appointed Mike Herring as President and CFO. Westergren will replace Pandora's outgoing CEO, Brian McAndrews following a more than two-year stint as CEO. Pandora reaffirmed its FY16 sales and adjusted EBITDA outlook.
Commodities
In commodity news, oil traded up 1.29 percent to $38.95, while gold traded down 0.15 percent to $1,221.70. Silver traded up 0.27 percent Monday to $15.24, while copper rose 0.07 percent to $2.23.
Eurozone
European markets were closed Monday for the Easter holiday.
Economics
U.S. consumer spending rose 0.10 percent for February, versus economists' expectations for a 0.10 percent growth. The pending home sales index gained 3.5 percent to 109.1 in February, versus a downwardly-revised 105.4 in January. However, economists were projecting a 1 percent growth. The Dallas Fed manufacturing business index rose to -13.60 for March, versus a prior reading of -31.80.
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Posted In: EarningsNewsEurozoneCommoditiesM&AGlobalIntraday UpdateMarketsMoversMid-Day Market Update
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