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Benzinga
Benzinga
Business
Lisa Levin

Mid-Day Market Update: Gold Rises 1%; BioDelivery Sciences International Shares Spike Higher

US stocks remained mixed midway through trading on Monday amid rising tensions on the border of Russia and Ukraine. The United States said Russia had amassed troops on the Ukrainian border to launch an invasion, Reuters reported.

The Dow traded down 0.43% to 34,588.21 while the NASDAQ rose 0.63% to 13,878.37. The S&P also fell, dropping, 0.16% to 4,411.63.

Check out this: Executives Buy Around $93M Of 3 Stocks


Leading and Lagging Sectors


Consumer discretionary shares climbed 1.5% on Monday. Meanwhile, top gainers in the sector included Horizon Global Corporation (NYSE:HZN), up 9% and Rivian Automotive, Inc. (NASDAQ:RIVN) up 11%.


In trading on Monday, energy shares tumbled by 2.6%.


Top Headline


TreeHouse Foods Inc (NYSE:THS) reported better-than-expected earnings for its fourth quarter.

TreeHouse Foods reported a fourth-quarter FY21 sales decline of 1% year-on-year, to $1.17 billion, beating the analyst consensus of $1.12 billion. Adjusted EPS of $0.11 beat the analyst consensus of $0.09.


Equities Trading UP


BioDelivery Sciences International, Inc. (NASDAQ:BDSI) shares shot up 53% to $5.57. Collegium Pharmaceutical will acquire BioDelivery Sciences International at $5.60 per share in an all-cash transaction, corresponding to an equity value of approximately $604 million.


Shares of Cornerstone Building Brands, Inc. (NYSE:CNR) got a boost, shooting 22% to $22.45 as private equity firm CD&R offered to acquire all outstanding shares it does not already own of Cornerstone Building Brands for $24.65 per share in cash.


Knightscope, Inc. (NASDAQ:KSCP) shares were also up, gaining 34% to $8.48 after the company announced a partnership with Allied Universal to provide autonomous security robots.


Also check out this: Discover Financial Services And 3 Other Stocks Sold By Insiders

Equities Trading DOWN

Sea Limited (NYSE:SE) shares tumbled 15% to $134.48. JP Morgan maintained Sea with an Overweight and lowered the price target from $420 to $250.


Shares of Gravity Co., Ltd. (NASDAQ:GRVY) were down 25% to $46.60. Gravity reported prelim FY21 consolidated revenue of KRW414 billion.


RumbleON, Inc. (NASDAQ:RMBL) was down, falling 34% to $25.51 as the company disclosed senior management changes. The company’s President Peter Levy will succeed Mark Tkach as COO.

Also check out this: Insiders Buying These 4 Penny Stocks


Commodities

In commodity news, oil traded up 0.2% to $93.32, while gold traded up 1.1% to $1,862.80.


Silver traded up 1.8% Monday to $23.80 while copper rose 0.1% to $4.5080.



Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 1.94%, London’s FTSE 100 fell 1.77%, while Spain’s IBEX 35 Index fell 2.53%. The German DAX declined 2.19%, French CAC 40 fell 2.4% and Italy’s FTSE MIB Index dipped 2.26%.


Economics


There were no major US economic releases Monday


Also check out: 4 Penny Stocks Insiders Are Buying

 

COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 79,325,570 cases with around 943,410 deaths. India confirmed a total of at least 42,665,530 cases and 509,040 deaths, while Brazil reported over 27,483,030 COVID-19 cases with 638,440 deaths. In total, there were at least 412,590,840 cases of COVID-19 worldwide with more than 5,836,070 deaths.

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