Mid-Afternoon Market Update: Crude Oil Down 2%; KKR Shares Slide Following Q1 Results

Toward the end of trading Monday, the Dow traded down 0.36 percent to 17,938.82 while the NASDAQ declined 0.36 percent to 4,888.83. The S&P also fell, dropping 0.37 percent to 2,083.81.

On Monday, the non-cyclical consumer goods & services sector proved to be a source of strength for the market. In trading on Monday, basic materials shares fell by 1.69 percent. Meanwhile, top losers in the sector included

, down 8 percent, and

, down 8 percent.

reported weaker-than-expected earnings for its first quarter on Monday. The company's net income declined to $34 million, or $0.03 per share, compared to $225 million, or $0.19 per share, in the year-ago period. On an adjusted basis, the company earned $0.22 per share. Its revenue dropped to $4.28 billion from $4.47 billion. However, analysts were projecting a profit of $0.23 per share on revenue of $4.24 billion.

shares shot up 53 percent to $11.49 as

offered to buy Tribune Publishing for $12.25 per share in cash. Shares of

got a boost, shooting up 4 percent to $13.46. First Data reported Q1 adjusted EBITDA of $636 million and segment sales of $1.7 billion.

shares were also up, gaining 4 percent to $4.57 after the company confirmed the FDA approval of Cabometyx tablets for patients with advanced renal cell carcinoma.

shares dropped 22 percent to $4.85. TrovaGene named Bill Welch as its CEO, effective immediately. Cantor Fitzgerald downgraded TrovaGene from Buy to Hold. Shares of

were down 16 percent to $102.51 as the company named John T. Hendrickson as its CEO. The company reported weak preliminary Q1 financial results, and also lowered its full year outlook.

was down, falling around 4 percent to $14.41. KKR reported a wider-than-expected loss for its first quarter.

In commodity news, oil traded down 2.1 percent to $42.81 while gold traded up 0.81 percent to $1,240.00. Silver traded up 0.50 percent Monday to $17.04, while copper fell 0.57 percent to $2.26.

European shares closed lower today. The eurozone's STOXX 600 declined 0.51 percent, the Spanish Ibex Index fell 1.01 percent, while Italy's FTSE MIB Index fell 1.52 percent. Meanwhile, the German DAX dropped 0.76 percent, and the French CAC 40 dropped 0.52 percent, while U.K. shares fell 0.78 percent.

New home sales declined 1.5 percent to an annual rate of 511,000 in March. However, economists were expecting a 527,000 pace for the month.