Market Overview

Mid-Day Market Update: Dow Down Over 250 Points; Leju Shares Rise After Q3 Results


Midway through trading Monday, the Dow traded down 1 percent to 25,158.27 while the NASDAQ declined 1.92 percent to 7,108.94. The S&P also fell, dropping 0.99 percent to 2,709.18.

Leading and Lagging Sectors

On Monday, the real estate shares climbed 0.5 percent. Meanwhile, top gainers in the sector included Re/Max Holdings Inc (NYSE: RMAX) up 3 percent, and Nam Tai Property Inc (NYSE: NTP) up 3 percent.

In trading on Monday, information technology shares fell 2.5 percent.

Top Headline

Cimarex Energy Co (NYSE: XEC) announced plans to buy Resolute Energy Corp (NYSE: REN) for $35 per share in cash and stock in a deal valued at $1.6 billion, including debt.


Equities Trading UP

Akers Biosciences, Inc. (NASDAQ: AKER) shares shot up 59 percent to $1.960 after the company announced it is evaluating potential business combinations in alternative sectors, including the cannabis industry.

Shares of Yulong Eco-Materials Limited (NASDAQ: YECO) got a boost, shooting up 25 percent to $6.35 after the company reported the purchase of Michelangelo's Crucifixion painting for $75 million.

Leju Holdings Limited (NYSE: LEJU) shares were also up, gaining 15 percent to $1.95 after the company reported Q3 results and issued upbeat Q4 guidance.


Equities Trading DOWN

Spectrum Brands Holdings, Inc. (NYSE: SPB) shares dropped 18 percent to $48.79 after the company reported weaker-than-expected results for its fourth quarter.

Shares of Sonoma Pharmaceuticals, Inc. (NASDAQ: SNOA) were down 21 percent to $0.875 after the company announced an equity offering priced at $1 per share.

Colfax Corporation (NYSE: CFX) was down, falling around 11 percent to $24.825 after the company announced plans to acquire DJO Global for $3.15 billion in cash.



In commodity news, oil traded down 1.31 percent to $55.72 while gold traded up 0.1 percent to $1,224.20.

Silver traded up 0.09 percent Monday to $14.395, while copper fell 0.53 percent to $2.795.



European shares were mostly lower today. The eurozone’s STOXX 600 declined 0.33 percent, the Spanish Ibex Index slipped 0.20 percent, while Italy’s FTSE MIB Index gained 0.03 percent. Meanwhile the German DAX dropped 0.41 percent, and the French CAC 40 fell 0.50 percent while U.K. shares rose 0.02 percent.


The NAHB housing market index declined 8 points to a reading of 60 in November. However, economists were expecting a reading of 67.

New York Federal Reserve Bank President John Williams is set to speak at Bronx, NY at 3:15 p.m. ET.


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