Market Roundup

Energy stocks dropped on Monday. The NYSE Arca Oil Index fell 2% to 1,299, while the NYSE Arca Natural Gas Index declined 1.3% to 671. The Philadelphia Oil Service Index declined 1.8% to 268. Shares of Tesoro Corp TSO dropped 3.2%. Shares of Northgate Minerals Corporation NXG dropped about 0.7% after the company announced the appointment of Mr. Richard J. Hall as President and Chief Executive Officer of Northgate, effective July 11, 2011. Shares of Peregrine Metals Ltd PTTDF jumped about 235% after Stillwater Mining Co SWC announced its plans to buy all shares outstanding of Peregrine Metals for about $487.1 million. The deal values Peregrine shares at $3.28 per share. Shares of Peregrine closed at $0.81 on Friday. Shares of Alcoa Inc AA declined about 3.8% as the company is all set to report its quarterly results after the closing bell. Alcoa is projected to report its Q2 EPS at $0.34 on revenue of $6.32 billion.