Toward the end of trading Monday, the Dow traded down 0.90% to 28348.53 while the NASDAQ fell 0.92% to 11564.13. The S&P also fell, dropping 1.02% to 3,448.26.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 8,155,590 cases with around 219,670 deaths. India confirmed a total of at least 7,550,270 confirmed cases and 114,610 deaths, while Brazil reported over 5,224,360 COVID-19 cases with 153,670 deaths. In total, there were at least 40,076,180 cases of COVID-19 worldwide with over 1,113,960 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Materials shares slipped by just 0.1% on Monday. Meanwhile, top gainers in the sector included Trinseo S.A. TSE, up 11%, and Lithium Americas Corp. LAC, up 10%.
In trading on Monday, energy shares tumbled 0.8%.
Top Headline
Halliburton Company HAL reported better-than-expected earnings for its third quarter, while sales missed view.
Halliburton reported quarterly earnings of $0.11 per share, beating analysts’ estimates of $0.08 per share. The company posted sales of $2.98 billion, missing expectations of $3.09 billion.
Equities Trading UP
Kaixin Auto Holdings KXIN shares shot up 281% to $7.88 after climbing over 55% on Friday. JP Morgan, last week, upgraded the company's stock from Neutral to Overweight.
Shares of BioSpecifics Technologies Corp. BSTC got a boost, shooting 44% to $88.17 after the company agreed be acquired by Endo Pharmaceuticals for $88.50 per share in cash.
Front Yard Residential Corporation RESI shares were also up, gaining 35% to $13.49 after the company agreed be acquired for $13.50 per share in cash..
Equities Trading DOWN
Abraxas Petroleum Corporation AXAS shares tumbled 25% to $2.1801 following effectiveness of 1-for-20 reverse split.
Shares of Aerie Pharmaceuticals, Inc. AERI were down 13% to $10.12 after Bank of America downgraded the stock from Neutral to Underperform and announced a price target of $9 per share.
American Equity Investment Life Holding Company AEL was down, falling 18% to $26.62 after the company rejected an acquisition offer from Athene Holding and instead announced Brookfield Asset Management would acquire a 20% stake in the company at $37 per share.
Commodities
In commodity news, oil traded up 0.2% to $40.97, while gold traded down 0.4% to $1,913.50.
Silver traded up 1.4% Monday to $24.755 while copper rose 0.7% to $3.0895.
Euro zone
European shares closed mostly lower today. The eurozone’s STOXX 600 slipped 0.28%, the Spanish Ibex Index rose 0.15%, while Italy’s FTSE MIB Index fell 0.08%. Meanwhile, the German DAX 30 slipped 0.42%, French CAC 40 fell 0.13% and London’s FTSE 100 fell 0.59%.
Eurozone construction output declined the least in six months, falling just 0.9% year-over-year in August.
Economics
The NAHB housing market index rose to 85 in October versus 83 in September.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.