Mid-Morning Market Update: Markets Mostly Lower; GE To Acquire Thermo Fisher Assets For $1.06B
Following the market opening Monday, the Dow traded down 0.01 percent to 16,468.13 while the NASDAQ declined 0.40 percent to 4,115.39. The S&P also fell, dropping 0.05 percent to 1,830.42.
Thermo Fisher will sell its cell culture, gene modulation and magnetic beads businesses to GE Healthcare. The deal is expected to close early this year.
Equities Trading UP
Shares of SolarCity (NASDAQ: SCTY) got a boost, shooting up 11.84 percent to $66.29 after Goldman Sachs added the stock to its Conviction Buy list.
Equities Trading DOWN
Shares of Select Comfort (NASDAQ: SCSS) were down 17.99 percent to $17.51 on weak Q4 guidance.
Sarepta Therapeutics (NASDAQ: SRPT) tumbled 8.14 percent to $18.78 after Citigroup downgraded the stock from Neutral to Sell.
First Solar (NASDAQ: FSLR) was down, falling 5.96 percent to $53.36 after Goldman Sachs downgraded the stock from Buy to Sell.
In commodity news, oil traded up 0.11 percent to $94.06, while gold traded up 0.13 percent to $1,240.20.
Silver traded down 0.23 percent Monday to $20.17, while copper fell 0.30 percent to $3.35.
European shares were higher today. The Spanish Ibex Index rose 1.03 percent, while Italy's FTSE MIB Index surged 0.90 percent. Meanwhile, the German DAX gained 0.27 percent and the French CAC 40 rose 0.08 percent while U.K. shares climbed 0.23 percent.
The ISM non-manufacturing index declined to53.00 in December, versus a prior reading of 53.90. However, economists were expecting a reading of 54.70.
U.S. factory orders rose 1.80% in November, versus economists' estimates for a 1.70% growth.
The Treasury is set to auction 3-and 6-month bills.
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