Post Market News
Stocks that were active in U.S. trading on Monday include Netflix, Inc. (NASDAQ:NFLX), Terex Corporation (NYSE:TEX), Orchard Supply Hardware Stores Corp (NASDAQ:OSH), Advanced Micro Devices, Inc. (NYSE:AMD) and Viropharma Inc (NASDAQ:VPHM).
- U.S.: Dow Jones: 15,188.41 (+0.78%), S&P 500: 1,638.65 (+0.73%), Nasdaq: 3,452.51 (+0.83%)
- World Markets: Shanghai: 2,156.21 (-0.27%), Nikkei 225: 13,033.12 (+2.73%), Hang Seng Index: 21,225.90 (+1.22%), TSEC: 7,992.89 (+0.69%), FTSE 100: 6,330.49 (+0.35%), EURO STOXX 50: 2,702.69 (+1.33%), BSE Sensex: 19,325.87 (+0.77%)
- Metals: Gold: $1,383.10 (-0.32%), Silver: $21.76 (-0.89%), Platinum: $1,434.80 (-0.87%)
- Currency: EUR/USD: 1.3341 (+0.01%), USD/JPY: 94.87 (+0.62%), GBP/USD: 1.5693 (-0.07%), USD/CAD: 1.0198 (+0.27%), USD/CNY: 6.1250 (-0.09%), AUD/USD: 0.9528 (-0.75%)
- 10 year U.S. Treasury: 2.17% (+0.05), 30 year U.S. Treasury: 3.35% (+0.04)
Market & Economy Update
Global stock markets rallied ahead of the June 18-19 Federal Reserve meeting. Economists expect that the Fed will reinforce its commitment to the U.S. economic recovery instead of trimming its stimulus. The Dow Jones Industrial Average edged up 110.13 points to 15,180.31, the S&P 500 Index surged 12.31 points to 1,639.04, while Nasdaq rose 28.57 points to 3,452.13.
Stocks In Focus
Netflix, Inc. (NASDAQ:NFLX)
The online video company continues to strengthen its portfolio of programmings for families. Netflix, Inc. (NASDAQ:NFLX) announced today that it has signed a multi-year deal with DreamWorks animation to obtain original programming created by DreamWorks. Netflix didn’t disclose the financial terms of the deal, adding that it includes exclusive access to more than 300 hours of programming. Netflix shares rose 7.04 percent to end the session at $229.34.
Terex Corporation (NYSE:TEX)
The machinery products maker has reduced its full year guidance for 2013. Terex Corporation (NYSE:TEX) CEO said that sales growth has been weaker than what the company had anticipated earlier. Shares closed the session down 7.72 percent to $29.29.
Orchard Supply Hardware Stores Corp. (NASDAQ:OSH)
The struggling specialty retailer filed for Chapter 11 bankruptcy on Monday. Lowe’s Companies, Inc. (NYSE:LOW) has offered to acquire 60 of Orchard’s 91 stores in California for $205 million. Orchard has requested the U.S. Bankruptcy Court to test Lowe’s offer with an auction. Shares rose 12.77 percent to $2.12.
Advanced Micro Devices, Inc. (NYSE:AMD)
Shares of the chipmaker jumped today after an article on Barron’s stated that Advanced Micro Devices, Inc. (NYSE:AMD)’s share prices may double if it strategically uses its 2012 purchase of SeaMicro to increase market share in the server-computer space. Shares rose 2.79 percent to end the trading session at $4.05.
Viropharma Inc (NASDAQ:VPHM)
The biopharmaceutical company has attracted acquisition interest from several big pharma industry players, sources told Reuters. Though Viropharma Inc (NASDAQ:VPHM) is not interested in putting itself up for sale, many pharma companies have eyed it because of its strong pipeline of medicines for rare diseases. Shares rose 6.30 percent to close the session at $28.87.