Market Overview

Mid-Afternoon Market Update: Markets Remain in the Green as Moneygram Falls Further

Mid-Afternoon Market Update: Markets Remain in the Green as Moneygram Falls Further
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Toward the end of trading Monday, the Dow traded up 0.22 percent to 16,443.00 while the NASDAQ surged 0.45 percent to 4,114.33. The S&P also rose, gaining 0.27 percent to 1,869.24.

Leading and Lagging Sectors
Monday morning, the healthcare sector proved to be a source of strength for the market. Leading the sector was strength from Sarepta Therapeutics (NASDAQ: SRPT) and STAAR Surgical Company (NASDAQ: STAA). In trading on Monday, basic materials shares were relative laggards, down on the day by about 0.45 percent.

Top losers in the sector included Endeavour Silver (NYSE: EXK), off 4 percent, and Hecla Mining Co (NYSE: HL), down 3.5 percent.

Top Headline
Halliburton (NYSE: HAL) posted a profit in the first quarter. Halliburton swung to a quarterly profit of $622 million, or $0.73 per share, versus a year-ago loss of $18 million, or $0.02 per share. Its income from continuing operations came in at $0.73 per share. Its total revenue climbed to $7.35 billion versus $6.97 billion. However, analysts were estimating earnings of $0.72 per share on revenue of $7.26 billion.

Equities Trading UP
Sarepta Therapeutics (NASDAQ: SRPT) shares shot up 42.87 percent to $34.85 on announcement that it will file NDA for Eteplirsen for the treatment of Duchenne Muscular Dystrophy by the year-end.

Shares of Advanced Micro Devices (NYSE: AMD) got a boost, shooting up 12.74 percent to $4.15 after the company reported upbeat quarterly earnings and issued a strong Q2 revenue forecast.

Cbeyond (NASDAQ: CBEY) shares gapped up Monday morning, gaining 38.56 percent to $9.81 after it was announced the company would be acquired for $323 million by Birch Communications.

Equities Trading DOWN
Shares of Moneygram International (NASDAQ: MGI) were 14.28 percent to $12.69. JMP Securities downgraded Moneygram from Market Outperform to Market Perform. Acacia Research (NASDAQ: ACTG) shares tumbled 9.11 percent to $15.51 after the company reported weaker-than-expected Q1 results. Organovo Holdings (NYSE: ONVO) was also down, falling 5.57 percent to $6.64 despite seeming little news on the name on Monday's session.

In commodity news, oil traded up 0.19 percent to $103.57, while gold traded down 0.36 percent to $1,289.00.

Silver traded down 1.23 percent Monday to $19.38, while copper fell 0.21 percent to $3.03.

Europe's markets were quiet with British, Italian, French and German markets all closed for Easter holidays.

The Chicago Fed National Activity Index rose to 0.20 in March, versus a prior reading of 0.14. However, economists were expecting a reading of 0.20.

The Conference Board's index of leading indicators rose 0.80% in March, versus economists' expectations for a 0.70% growth.

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