Mid-Day Market Update: Crude Oil Up 2.4%; Regional Health Properties Shares Spike Higher
|Midway through trading Monday, the Dow traded down 0.18 percent to 26,511.75 while the NASDAQ declined 0.01 percent to 7,997.89. The S&P also fell, dropping 0.01 percent to 2,904.85.
Leading and Lagging Sectors
On Monday, the energy shares rose 1.2 percent. Meanwhile, top gainers in the sector includedDenbury Resources Inc. DNR 16.1% up 9 percent, and Carrizo Oil & Gas Inc CRZO 14.62%up 8 percent.
In trading on Monday, real estate shares fell 1 percent.
Top Headline
Halliburton Company HAL 0.35% reported better-than-expected results for its first quarter.
Halliburton said it earned $0.23 per share in the first quarter on revenue of $5.737 billion versus expectations of $0.22 per share and $5.52 billion.
Equities Trading UP
The KeyW Holding Corporation KEYW 42.56% shares got a boost, shooting up 43 percent to $11.21 after Jacobs Engineering Group Inc JEC 1.76% announced plans to acquire KEYW for $11.25 per share in cash.
Shares of Moleculin Biotech, Inc. MBRX 51.07% shot up 33 percent to $1.4766 after the company announced a conference call to review a 'significant discovery for lung cancer and FDA activity.'
Regional Health Properties, Inc. RHE 186.11% shares were also up, gaining 157 percent to $2.8001 after the company announced it has entered an agreement to sell four skilled nursing facilities for $28.5 million.
Equities Trading DOWN
Fusion Telecommunications International, Inc. FSNN 18.24% shares dropped 24 percent to $0.1840 after the company received a delisting notice from NASDAQ.
Shares of Novus Therapeutics, Inc. NVUS 24.21% were down 24 percent to $3.13. Novus Therapeutics said its OP0201 Phase 1 clinical trials 'demonstrated a favorable safety and tolerability profile.'
GrafTech International Ltd. EAF 11.62% was down, falling around 10 percent to $12.58 after Citigroup downgraded the company's stock from Buy to Sell.
Commodities
In commodity news, oil traded up 2.4 percent to $65.55 while gold traded up 0.1 percent to $1,277.10.
Silver traded up 0.1 percent Monday to $14.975, while copper fell 0.5 percent to $2.9045.
European markets were closed Monday for Easter holiday.
European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.22 percent, the Spanish Ibex Index rose 0.34 percent, while Italy’s FTSE MIB Index fell 0.2 percent. Meanwhile the German DAX climbed 0.57 percent, and the French CAC 40 gained 0.31 percent while U.K. shares fell 0.15 percent.
Economics
The Chicago Fed National Activity Index for March rose to -0.15 in March, compared to a reading of -0.31 in February.
U.S. existing home sales declined 4.9 percent at an annual rate of 5.21 million for March.
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