Market Overview

Mid-Afternoon Market Update: Dow Down Over 150 Points; Radisys Shares Spike Higher

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Toward the end of trading Monday, the Dow traded down 0.67 percent to 24,108.08 while the NASDAQ declined 0.28 percent to 7,489.50. The S&P also fell, dropping 0.53 percent to 2,703.93.

Leading and Lagging Sectors

Monday afternoon, the information technology shares slipped by just 0.08 percent. Meanwhile, top gainers in the sector included Acxiom Corporation (NASDAQ: ACXM) up 11 percent, and VMware, Inc. (NYSE: VMW) up 10 percent.

In trading on Monday, energy shares fell 1.41 percent.

Top Headline

Randa announced plans to acquire Perry Ellis International, Inc. (NASDAQ: PERY) for $28 per share.

Equities Trading UP

Radisys Corporation (NASDAQ: RSYS) shares shot up 108 percent to $1.4567 after Reliance Industries announced plans to acquire Radisys for $1.72 per share in cash.

Shares of Adamis Pharmaceuticals Corporation (NASDAQ: ADMP) got a boost, shooting up 36 percent to $4.35 after the company reported a distribution and commercialization agreement with Sandoz for Symjepi.

New Concept Energy, Inc. (NYSE: GBR) shares were also up, gaining 149 percent to $10.4996 after climbing 145.33 percent on Friday.

Equities Trading DOWN

MiMedx Group, Inc. (NASDAQ: MDXG) shares dropped 38 percent to $3.95. MiMedx reported the resignation of its Chairman and CEO Parker H. "Pete" Petit. The company also reported that William C. "Bill" Taylor has resigned as President and COO.

Shares of MabVax Therapeutics Holdings, Inc. (NASDAQ: MBVX) were down 42 percent to $0.49 on announcement that company will not attempt to regain NASDAQ listing compliance.

Helios and Matheson Analytics Inc. (NASDAQ: HMNY) was down, falling around 17 percent to $0.2577. Helios And Matheson Analytics disclosed that it has filed a $1.2 billion universal shelf registration statement.

Commodities

In commodity news, oil traded down 0.15 percent to $74.04 while gold traded down 1 percent to $1,242.10.

Silver traded down 1.87 percent Monday to $15.895, while copper fell 1.1 to $2.9335.

Eurozone

European shares closed lower today. The eurozone's STOXX 600 dropped 0.84 percent, the Spanish Ibex Index fell 0.67 percent, while Italy's FTSE MIB Index declined 0.92 percent. Meanwhile the German DAX declined 0.55 percent, and the French CAC 40 slipped 0.88 percent while U.K. shares fell 1.17 percent.

Economics

The manufacturing PMI gained to 55.40 for June, versus prior reading of 54.60. However, economists were expecting a reading of 54.60.

The ISM manufacturing index rose to 60.20 in June, versus previous reading of 58.70. Economists projected a reading of 58.2.

U.S. construction spending rose 0.4 percent for May, versus economists' expectations for a 0.5 percent increase

Posted-In: Mid-Afternoon Market UpdateNews Eurozone Commodities Global Intraday Update Markets

 

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