Dow Edges Lower; KWESST Micro Systems Shares Jump

U.S. stocks traded mixed midway through trading, with the Dow Jones index falling around 0.1% on Monday.

The Dow traded down 0.06% to 38,774.90 while the NASDAQ rose 0.28% to 17,180.62. The S&P 500 also rose, gaining, 0.11% to 5,352.67.

Check This Out: Wall Street’s Most Accurate Analysts Weigh In On 3 Energy Stocks With Over 7% Dividend Yields

Leading and Lagging Sectors

Energy shares climbed by 1.3% on Monday.

In trading on Monday, financial shares fell by 0.6%.

Top Headline

Diamond Offshore Drilling, Inc. DO disclosed that it signed a definitive agreement to be acquired by Noble Corporation plc NE in a stock-plus-cash transaction.

Equities Trading UP

  • Big Tree Cloud Holdings Limited DSY shares shot up 104% to $3.8697 following the completion of the company’s business combination with Plutonian Acquisition Corp. and amid continued volatility following its Nasdaq debut last week.
  • Shares of KWESST Micro Systems Inc. KWE got a boost, surging 144% to $0.96 after the company was awarded a sub-contract worth up to C$48 million by Thales Canada for software development services.
  • ICC Holdings, Inc. ICCH shares were also up, gaining 43% to $22.00 after Mutual Capital Group announced it will acquire the company for $23.50 per share.

    Equities Trading DOWN

    • Perion Network Ltd. PERI shares dropped 28% to $8.83 after the company cut its revenue outlook.
    • Shares of Sify Technologies Limited SIFY were down 25% to $0.62 after the company announced the voluntary delisting date of its ADS rights from Nasdaq.
    • Enservco Corporation ENSV was down, falling 27% to $0.1774 after the company announced the staff of NYSE Regulation determined to commence proceedings to delist its common stock.

    Also Check This Out:Top 5 Financial Stocks That May Collapse This Quarter


    In commodity news, oil traded up 2.1% to $77.14 while gold traded down 0.2% at $2,321.20.

    Silver traded up 1% to $29.72 on Monday, while copper rose 1.3% to $4.5395.

    Euro zone

    European shares were lower today. The eurozone's STOXX 600 fell 0.33%, Germany's DAX declined 0.37% and France's CAC 40 fell 1.55%. Spain's IBEX 35 Index fell 0.44%, while London's FTSE 100 fell 0.27%.

    Industrial production in Italy declined by 1% month-over-month in April compared to a 0.5% decline in March.

    Asia Pacific Markets

    Asian markets closed mixed on Monday, with Japan's Nikkei gaining 0.92%, and India's S&P BSE Sensex falling 0.27%.

    Japan's current account surplus widened to JPY 2,050.5 billion in April versus JPY 1,895.4 billion in the year-ago period, while Japanese economy shrank by 1.8% on an annualized basis in the first quarter. The gauge for Japanese service sector declined to 45.7 in May compared to 47.4 in the prior month.

    Industrial production in Malaysia gained by 6.1% year-over-year in April, while unemployment rate in Malaysia fell to 3.3% in April from 3.5% in the year-ago month.


    No major economic reports will be released today.

    Now Read This: Jim Cramer Isn’t Recommending SLB, And BlackBerry? ‘Nothing There’

Market News and Data brought to you by Benzinga APIs
Posted In: NewsEurozoneCommoditiesIntraday UpdateMarketsTrading IdeasMid-Day Market Update
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!