Following the market opening Monday, the Dow traded down 0.01 percent to 22,772.39 while the NASDAQ gained 0.06 percent to 6,594.27. The S&P also fell, dropping 0.07 percent to 2,547.64.
Leading and Lagging Sectors
Monday morning, the technology shares surged 0.35 percent. Meanwhile, top gainers in the sector included Monotype Imaging Holdings Inc. TYPE 6.72%, up 9 percent, and Semiconductor Manufacturing Int’l (ADR) SMI 6.81%, up 6 percent.
Axalta Coating Systems Ltd. AXTA 4.13% lowered its guidance for 2017.
Axalta now projects 2017 sales to increase 6 percent-7 percent. The company also expects adjusted earnings before interest, taxes, depreciation and amortization of $870 million to $900 million. The company earlier expected sales growth of 7 percent to 8 percent, and EBITDA of $940 million to $970 million.
Equities Trading UP
Cleantech Solutions International Inc CLNT 111.45% shares shot up 127 percent to $7.54 after the company reported an exclusivity agreement for the potential takeover of Inspirit Studio.
Shares of Sphere 3D Corp. ANY 29.75% got a boost, shooting up 31 percent to $3.31 after the company disclosed that HVE has been awarded a $1 million contract.
OneMain Holdings Inc OMF 11.77% shares were also up, gaining 12 percent to $32.25. OneMain Holdings is said to be in advanced sale talks, according to sourcres as reported by the Wall Street Journal on Sunday. people familiar with the matter. Potential bidders include private, equity firms as well as competing lenders, the sources said.
Equities Trading DOWN
K2M Group Holdings Inc KTWO 17.86% shares dropped 19 percent to $17.75 after the company issued a weak sales forecast.
Shares of 22nd Century Group Inc XXII 14.08% were down 13 percent to $2.95 after the company reported a $54 million private placement.
PTC Therapeutics, Inc. PTCT 4.85% was down, falling around 5 percent to $18.78. JP Morgan downgraded PTC Therapeutics from Neutral to Underweight.
In commodity news, oil traded down 0.01 percent to $49.29 while gold traded up 0.80 percent to $1,285.10.
Silver traded up 0.92 percent Monday to $16.945, while copper rose 0.01 percent to $3.029.
European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.21 percent, the Spanish Ibex Index rose 0.68 percent, while Italy’s FTSE MIB Index climbed 0.17 percent. Meanwhile the German DAX rose 0.06 percent, and the French CAC 40 gained 0.03 percent while U.K. shares fell 0.23 percent.
On the economics calendar Monday, there is no important data due out.