Midway through trading Monday, the Dow traded up 0.04 percent to 16,993.90 while the NASDAQ declined 1.14 percent to 4,515.55. The S&P also fell, dropping 0.29 percent to 1,979.87.
Leading and Lagging Sectors
Non-cyclical consumer goods & services shares rose 0.49 percent in trading on Monday. Top gainers in the sector included Molson Coors Brewing Company TAP, up 7.3 percent, and Anheuser-Busch InBev SA/NV BUD, up 3.1 percent.
In trading on Monday, technology shares were relative laggards, down on the day by about 0.79 percent. Meanwhile, top decliners in the sector included Imperva IMPV, down 7.9 percent, and MakeMyTrip MMYT, off 6.7 percent.
Top Headline
Cognizant Technology Solutions CTSH announced its plans to buy TriZetto for $2.7 billion in cash.
The deal is expected to close in the fourth quarter and immediately add to Cognizant's adjusted earnings.
Equities Trading UP
Avanir Pharmaceuticals AVNR shares shot up 62.46 percent to $10.95 after the company reported positive Phase II trial results for AVP-923 in treatment of agitation in patients with Alzheimer's disease.
Shares of Alere ALR got a boost, shooting up 12.43 percent to $41.16 following the proposed $46 per share offer from Ron Zwanziger.
Molson Coors Brewing Company TAP shares were also up, gaining 7.28 percent to $77.03 on a report that Anheuser-Busch InBev BUD has funding lined up for SABMiller deal.
Equities Trading DOWN
Shares of Bankrate RATE were down 15.70 percent to $11.65 after the company named Steven Barnhart as interim Chief Financial Officer and announced the SEC investigation relating to 2012 financial reporting.
NPS Pharmaceuticals NPSP shares tumbled 15.90 percent to $27.50. The FDA has voted 8-5 in favor of NPS Pharmaceuticals' Natpara.
Terex TEX was down, falling 5.82 percent to $32.68 after the company lowered its 2014 earnings forecast.
Commodities
In commodity news, oil traded up 0.08 percent to $92.34, while gold traded up 0.18 percent to $1,233.70.
Silver traded up 0.02 percent Monday to $18.61, while copper fell 0.55 percent to $3.09.
Euro Zone
European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.15 percent, the Spanish Ibex Index declined 0.46 percent, while Italy’s FTSE MIB Index slipped 1.14 percent. Meanwhile, the German DAX rose 0.09 percent and the French CAC 40 fell 0.32 percent while UK shares dropped 0.12 percent.
Economics
The Empire State manufacturing index surged to 27.54 in September, versus a prior reading of 14.69. However, economists were expecting a reading of 15.95.
US industrial production fell 0.10% in August, versus economists’ expectations for a 0.30% growth.
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