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Midway through trading Monday, the Dow traded up 0.15% to 26758.68 while the NASDAQ fell 0.06% to 8,026.50. The S&P also rose, gaining 0.04% to 2,951.64.
Leading and Lagging Sectors
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Consumer staples shares gained 0.4% on Monday. Meanwhile, top gainers in the sector included HF Foods Group Inc. (NASDAQ:HFFG), up 5%, and BRF S.A. (NYSE:BRFS), up 3%.
In trading on Monday, energy shares fell 0.5%.
Top Headline
Eldorado Resorts Inc (NASDAQ:ERI) will acquire Caesars Entertainment Corporation (NASDAQ:CZR) in a cash-and-stock transaction of $17.3 billion. Caesars is one of the world's largest gambling companies and has had a number of offers, including Golden Nugget, Tilman Fertitta's casino company and Boyd Gaming Corp.
Carl Icahn, who owns a 9.8% stake in Caesars , has commented he is "pleased" Eldorado will merge with Caesars. Back in January, Icahn pushed for Caesars to consider strategic alternatives.
Separately, VICI Properties Inc (NYSE:VICI) announced it will acquire the land of three casino properties from Eldorado Resorts for $3.2 billion..
Equities Trading UP
Minerva Neurosciences Inc (NASDAQ:NERV) shares shot up 56% to $6.60 after the company announced that its Phase 2B trial for the clinical trial of Seltorexant achieved its primary and key secondary objectives.
Shares of PCM Inc (NASDAQ:PCMI) got a boost, shooting up 42% to $34.71 after Insight Enterprises, Inc. (NASDAQ:NSIT) announced plans to acquire PCM for $35 per share.
VivoPower International PLC (NASDAQ:VVPR) shares were also up, gaining 71% to $1.74, after the company announced new international parties have engaged in the company's solar portfolio sale. The company also announced additional contracts relating to solar farms and data centers.
Equities Trading DOWN
The Peck Company, Inc. (NASDAQ:PECK) shares tumbled 22% to $8.67 after falling 34.9% on Friday.
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Shares of 360 Finance, Inc. (NASDAQ:QFIN) were down 21% to $10.90 after the company announced a proposed follow-on public offering of 7.5 million American depositary shares.
Pier 1 Imports, Inc. (NYSE:PIR) was down, falling 24% to $8.62 after dropping 23.5% on Friday. Pier 1 Imports announced a 1-for-20 reverse stock split Wednesday to regain compliance with New York Stock Exchange listing standards. The company’s board of directors formally authorized a 1-for-20 reverse stock split of Pier 1’s common stock effective Thursday.
Commodities
In commodity news, oil traded up 0.1% to $57.50, while gold traded up 0.9% to $1,412.50.
Silver traded up 0.6% Monday to $15.375, while copper fell 0.1% to $2.7045.
Euro zone
European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.17%, the Spanish Ibex Index fell 0.09%, while Italy’s FTSE MIB Index dropped 0.12%. Meanwhile, the German DAX slipped 0.52%, and the French CAC 40 fell 0.03% while UK shares rose 0.16%.
Economics
The Chicago Fed National Activity Index increased to a reading of -0.05 in May, versus a revised reading of -0.48 in the prior month.
The Dallas Fed manufacturing index fell to -12.1 in June, versus reading of -5.3 in May.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.