Following the market opening Monday, the Dow traded down 0.20 percent to 25,412.36 while the NASDAQ climbed 0.22 percent to 7,829.56. The S&P also rose, gaining 0.07 percent to 2,842.22.
Leading and Lagging Sectors
Monday morning, the utilities shares climbed 0.42 percent. Meanwhile, top gainers in the sector included Connecticut Water Service, Inc. CTWS 8.48% up 9 percent, and Spark Energy, Inc. SPKE 5.26% up 5 percent.
In trading on Monday, materials shares fell 0.49 percent.
Tyson Foods, Inc. TSN 4.05% reported better-than-expected results for its third quarter, while sales missed estimates.
Earnings came in at $1.50 per share, beating market estimates of $1.40 per share. Sales came in at $10.05 billion, missing estimates of $10.28 billion. Tyson Foods expects FY18 sales of $40 billion to $41 billion.
Equities Trading UP
Technical Communications Corporation TCCO 30.69% shares shot up 30 percent to $4.86 after the company reported an increase in Q3 EPS and sales year-over-year.
Shares of Cherokee Inc. CHKE 93.21% got a boost, shooting up 91 percent to $0.8499. Cherokee received a $40 million term loan from Gordon Brothers Finance Company to refinance debt and increase liquidity.
SeaWorld Entertainment, Inc. SEAS 15.67% shares were also up, gaining 18 percent to $24.92 after reporting Q2 results. The company reported strong Q2 attendance growth and established a goal of $475 million to $500 million of adjusted EBITDA by 2020.
Equities Trading DOWN
Westmoreland Resource Partners, LP WMLP 44.69% shares dropped 31 percent to $2.89 after the company quarterly EPS of $(4.10) and sales of $64.30 million.
Shares of Ovid Therapeutics Inc. OVID 33.73% were down 30 percent to $6.6262 despite the company announcing that its OV101 trial achieved its primary endpoint.
Pain Therapeutics, Inc. PTIE 35.22% was down, falling around 27 percent to $1.73 after the FDA issued a complete response letter regarding Pain’s REMOXY oxycodone. The FDA said the data does not show that the benefits of REMOXY outweigh the risks.
In commodity news, oil traded up 1.28 percent to $69.37 while gold traded down 0.52 percent to $1,216.90.
Silver traded down 0.79 percent Monday to $15.34, while copper fell 1.72 to $2.716.
European shares were lower today. The eurozone’s STOXX 600 dropped 0.19 percent, the Spanish Ibex Index fell 0.32 percent, while Italy’s FTSE MIB Index slipped 0.26 percent. Meanwhile the German DAX declined 0.10 percent, and the French CAC 40 fell 0.20 percent while U.K. shares fell 0.06 percent.
The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.
The TD Ameritrade Investor Movement Index for July is schedule for release at 12:30 p.m. ET.