Market Overview

Mid-Morning Market Update: Markets Open Lower; Halliburton Beats Q1 Expectations


Following the market opening Monday, the Dow traded down 0.25 percent to 26491.99 while the NASDAQ declined 0.15 percent to 7,986.39. The S&P also fell, dropping 0.12 percent to 2,901.66.

Leading and Lagging Sectors

Monday morning, the energy shares rose 0.9 percent. Meanwhile, top gainers in the sector included Denbury Resources Inc. (NYSE: DNR) up 8 percent, and Carrizo Oil & Gas Inc (NASDAQ: CRZO) up 6 percent.

In trading on Monday, real estate shares fell 0.8 percent.

Top Headline

Halliburton Company (NYSE: HAL) reported better-than-expected results for its first quarter.

Halliburton said it earned $0.23 per share in the first quarter on revenue of $5.737 billion versus expectations of $0.22 per share and $5.52 billion.


Equities Trading UP

The KeyW Holding Corporation (NASDAQ: KEYW) shares got a boost, shooting up 43 percent to $11.21 after Jacobs Engineering Group Inc (NYSE: JEC) announced plans to acquire KEYW for $11.25 per share in cash.

Shares of Moleculin Biotech, Inc. (NASDAQ: MBRX) shot up 30 percent to $1.4472 after the company announced a conference call to review a 'significant discovery for lung cancer and FDA activity.'

Regional Health Properties, Inc. (NYSE: RHE) shares were also up, gaining 149 percent to $2.7155 after the company announced it has entered an agreement to sell four skilled nursing facilities for $28.5 million.


Equities Trading DOWN

Fusion Telecommunications International, Inc. (NASDAQ: FSNN) shares dropped 24 percent to $0.184 after the company received a delisting notice from NASDAQ.

Shares of Novus Therapeutics, Inc. (NASDAQ: NVUS) were down 27 percent to $3.00. Novus Therapeutics said its OP0201 Phase 1 clinical trials 'demonstrated a favorable safety and tolerability profile.'

Intuitive Surgical, Inc. (NASDAQ: ISRG) was down, falling around 6 percent to $498.14 after the company reported weaker-than-expected earnings for its first quarter on Thursday.


In commodity news, oil traded up 2.4 percent to $65.52 while gold traded up 0.2 percent to $1,279.00.

Silver traded up 0.1 percent Monday to $14.965, while copper fell 0.8 percent to $2.897.



European markets were closed Monday for Easter holiday.



The Chicago Fed National Activity Index for March rose to -0.15 in March, compared to a reading of -0.31 in February.

U.S. existing home sales declined 4.9 percent at an annual rate of 5.21 million for March.

The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.


Related Articles (CRZO + DNR)

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