Midway through trading Monday, the Dow traded up 0.30 percent to 25,744.97 while the NASDAQ declined 0.28 percent to 7,794.13. The S&P also rose, gaining 0.06 percent to 2,851.69.
Leading and Lagging Sectors
On Monday, the materials shares rose 0.69 percent. Meanwhile, top gainers in the sector included Liquidmetal Technologies, Inc. LQMT up 8 percent, and MPM Holdings Inc. MPMQ up 8 percent.
In trading on Monday, information technology shares fell 0.50 percent.
Rumors of a merger between PepsiCo, Inc. PEP and Sodastream International Ltd SODA date back to at least 2014 and were finally confirmed Monday.
PepsiCo said it reached an agreement to buy Israel-based Sodastream for $144 per share, which represents a 32-percent premium to the 30-day volume weighted average price, the companies said in a press release. The transaction is expected to improve Sodastream's expansion and breakthrough innovation through PepsiCo's distribution capabilities, global reach, R&D, design and marketing expertise.
Equities Trading UP
Seven Stars Cloud Group, Inc. SSC shares shot up 60 percent to $3.1672 after announcing a $24 billion deal to conduct financing activities for National Transportation Capacity Company.
Shares of China Commercial Credit, Inc. GLG got a boost, shooting up 53 percent to $0.9040 after the company late Friday reported positive Q2 earnings compared with a loss last year.
Cheetah Mobile Inc. CMCM shares were also up, gaining 17 percent to $10.68 after the company posted upbeat Q2 results.
Equities Trading DOWN
Lannett Company, Inc. LCI shares dropped 58 percent to $5.725 after the company issued weak forecast for the fourth quarter. The company also disclosed that its contract Jerome Stevens Pharma will not be renewed.
Shares of Rimini Street, Inc. RMNI were down 11 percent to $4.30.
China Advanced Construction Materials Group, Inc. CADC was down, falling around 16 percent to $4.60.
In commodity news, oil traded up 0.64 percent to $66.33 while gold traded up 0.75 percent to $1,193.10.
Silver traded up 0.37 percent Monday to $14.685, while copper rose 1.11 to $2.677.
European shares were higher today. The eurozone’s STOXX 600 jumped 0.75 percent, the Spanish Ibex Index rose 0.78 percent, while Italy’s FTSE MIB Index rose 0.61 percent. Meanwhile the German DAX climbed 1.27 percent, and the French CAC 40 surged 0.89 percent while U.K. shares rose 0.58 percent.
On the economics calendar Monday, there is no important data due out.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.