Market Overview

Mid-Day Market Update: Select Comfort Tumbles On Weak Q4 Outlook; Sirius XM Shares Rise

Mid-Day Market Update: Select Comfort Tumbles On Weak Q4 Outlook; Sirius XM Shares Rise
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Midway through trading Monday, the Dow traded down 0.24 percent to 16,430.56 while the NASDAQ declined 0.49 percent to 4,111.83. The S&P also fell, dropping 0.27 percent to 1,826.41.

Top Headline
General Electric Co (NYSE: GE) announced its plans to acquire some assets from Thermo Fisher (NYSE: TMO) for around $1.06 billion.

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 8.93 percent to $64.56 after Goldman Sachs added the stock to its Conviction Buy list.

XPO Logistics (NYSE: XPO) shot up 7.06 percent to $30.01 after the company announced its plans to acquire Pacer International (NASDAQ: PACR) in a deal valued at $335 million.

Sirius XM Holdings (NASDAQ: SIRI) was also up, gaining 6.02 percent to $3.79 after Liberty Media (NASDAQ: LMCA) offered to acquire Sirius in a stock swap deal valued at $3.68 per share.

Equities Trading DOWN
Shares of Select Comfort (NASDAQ: SCSS) were down 18.74 percent to $17.35 on weak Q4 guidance.

Sarepta Therapeutics (NASDAQ: SRPT) tumbled 11.94 percent to $18.00 after Citigroup downgraded the stock from Neutral to Sell.

First Solar (NASDAQ: FSLR) was down, falling 9.45 percent to $51.38 after Goldman Sachs downgraded the stock from Buy to Sell.

In commodity news, oil traded down 0.23 percent to $93.74, while gold traded up 0.08 percent to $1,239.60.

Silver traded up 0.14 percent Monday to $20.24, while copper fell 0.07 percent to $3.35.

European shares were mixed today. The Spanish Ibex Index rose 0.92 percent, while Italy's FTSE MIB Index surged 0.63 percent. Meanwhile, the German DAX dropped 0.08 percent and the French CAC 40 fell 0.47 percent while U.K. shares climbed 0.01 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.

Posted-In: Earnings News Guidance Eurozone Futures Commodities Forex Global


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