- June 8, 2021
- Posted by: Lisa Levin
- Category: Featured
Toward the end of trading Monday, the Dow traded down 0.40% to 34,616 while the NASDAQ rose 0.49% to 13,882.39. The S&P also fell, dropping 0.10% to 4,225.78.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 33,363,340 cases with around 597,630 deaths. India confirmed a total of at least 28,909,970 cases and 349,180 deaths, while Brazil reported over 16,947,060 COVID-19 cases with 473,400 deaths. In total, there were at least 173,337,740 cases of COVID-19 worldwide with more than 3,730,060 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
In trading on Monday, materials shares fell 1.4%.
G-III Apparel Group, Ltd. (NASDAQ:GIII) reported better-than-expected results for its first quarter.
G-III Apparel reported quarterly earnings of $0.53 per share, beating analysts’ estimates of $0.15 per share. The company’s quarterly sales came in at $519.90 million, versus expectations of $462.03 million.
G-III Apparel said it expects Q2 earnings of $0.03 to $0.13 per share on sales of $470 million. The company also sees FY22 adjusted earnings of $2.60 to $2.78 per share on sales of $2.53 billion.
Equities Trading UP
U.S. Concrete, Inc. (NASDAQ:USCR) shares shot up 29% to $73.72. Vulcan announced plans to acquire U.S. Concrete for $74 per share in cash.
Shares of EXFO Inc. (NASDAQ:EXFO) got a boost, shooting 61% to $5.95 after the company announced a going-private transaction by its found and majority shareholder, Germain Lamonde.
Liminal BioSciences Inc. (NASDAQ:LMNL) shares were also up, gaining 29% to $5.20. Liminal BioSciences reported the FDA approval for its Biologics License Application for Ryplazim.
Check out these big movers of the day
Equities Trading DOWN
MoSys, Inc. (NASDAQ:MOSY) shares tumbled 19% to $7.36 after the company announced a $13 million registered direct offering priced at $7.15 per share.
Shares of Newtek Business Services Corp. (NASDAQ:NEWT) were down 9% to $35.16. Compass Point downgraded Newtek Business Services from Buy to Neutral and raised the price target from $33 to $38.
Fuel Tech, Inc. (NASDAQ:FTEK) was down, falling 14% to $2.5127 after surging over 36% on Friday. The company, last month, reported quarterly results.
In commodity news, oil traded down 0.6% to $69.23, while gold traded up 0.5% to $1,901.80.
Silver traded up 0.6% Monday to $28.065 while copper fell 0.3% to $4.5175.
European shares closed mostly higher today. The eurozone’s STOXX 600 gained 0.22%, the Spanish Ibex Index rose 0.83% and the German DAX 30 declined 0.10%. Meanwhile, the London’s FTSE 100 gained 0.12%, French CAC 40 rose 0.43% and Italy’s FTSE MIB gained 0.99%.
UK’s Halifax house price index increased 9.5% year-over-year in May. Spain’s industrial production surged 48.2% year-over-year in April. Factory orders in Germany declined 0.2% in April.
US consumer credit rose by $18.61 billion in April versus a revised $18.6 billion increase in the prior month.
Check out the full economic calendar here