Midway through trading Monday, the Dow traded down 0.53% to 34,017.99. while the NASDAQ fell 0.94% to 13,920.74. The S&P also fell, dropping 0.54% to 4,162.85.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 31,670,350 cases with around 567,210 deaths. India confirmed a total of at least 15,061,800 cases and 178,760 deaths, while Brazil reported over 13,943,070 COVID-19 cases with 373,330 deaths. In total, there were at least 141,467,400 cases of COVID-19 worldwide with more than 3,021,200 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Consumer staples shares traded almost flat on Monday. Meanwhile, top gainers in the sector included Rite Aid Corporation RAD, up 6%, and RLX Technology Inc. RLX, up 3%.
In trading on Monday, consumer discretionary shares fell 1.1%.
The Coca-Cola Company KO reported stronger-than-expected results for its first quarter.
Coca-Cola reported quarterly earnings of $0.55 per share, beating analysts’ estimates of $0.50 per share. The company’s quarterly sales came in at $9.00 billion, versus expectations of $8.61 billion. The company said it expects to deliver organic sales growth of high single digits in FY20.
Coca-Cola agreed to sell its stake in Coca-Cola Beverages Africa, so the company can be an independent publicly traded company.
Equities Trading UP
Marlin Business Services Corp. MRLN shares shot up 53% to $21.80 after the company enters into a definitive agreement to be acquired by funds managed by HPS Investment Partners for $23.50 per share in cash.
Shares of Knoll, Inc. KNL got a boost, shooting 33% to $22.94 after the company announced it would be acquired by Herman Miller for $11 in cash and 0.32 shares of the combined company per Knoll share owned.
American River Bankshares AMRB shares were also up, gaining 24% to $20.02 after the company reported Q1 earnings and also signed a merger agreement with Bank of Marin Bancorp.
Equities Trading DOWN
Haemonetics Corporation HAE shares tumbled 31% to $80.21 after the company announced CSL Pharma has informed the company of its intent to not renew its supply agreement with Haemonetics for the use of PCS2 plasma collection system devices.
Shares of Anixa Biosciences, Inc. ANIX were down 14% to $4.03 after the FDA requested additional information on the company's CAR-T Therapy. The FDA also announced that its study would be placed on a Clinical Hold pending submission of additional information.
LifeMD, Inc. LFMD was down, falling 15% to $8.52. LifeMD said it sees Q1 sales of $18.2 million.
In commodity news, oil traded down 0.1% to $63.12, while gold traded down 0.4% to $1,774.00.
Silver traded down 0.8% Monday to $25.895 while copper rose 1.9% to $4.2455.
European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.18%, the Spanish Ibex Index rose 1.11% and the German DAX 30 dropped 0.5%. Meanwhile, the French CAC 40 rose 0.2% London’s FTSE 100 fell 0.49% and Italy’s FTSE MIB fell 0.27%.
The Eurozone current account surplus shrank to EUR 13.3 billion in February from EUR 14.1 billion in the year-ago month.
On the economics calendar Monday, there is no important data due out.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.