Today’s market saw generally positive trading with the major indices edging up at the close of the day. The S&P 500 rose by 0.14% to sit at 1,682.50, the Dow Jones rose by 0.13% to sit at 15,484.26, and the Nasdaq rose by 0.21% to sit at 3,607.49 at the end of trading on Monday.
The big movers on today’s market included Leap Wireless International, Inc. (NASDAQ:LEAP), Crocs, Inc. (NASDAQ:CROX), WebMD Health Corp. (NASDAQ:WBMD), and Ingredion Inc (NYSE:INGR). Once again, earnings season played a major role in the movements of the market on Monday.
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Crocs, Inc. (NASDAQ:CROX) stock dropped by 4.46% on today’s market to sit at $16.71 per share at the end of the day. The shoe company has seen shares rise by more than 16% since the start of the year but investors are worried that the company’s attachment to clogs will damage it as trends change.
Crocs, Inc. (NASDAQ:CROX) has announced plans to move into other types of footwear, and its management has been vocal about its diversification. Investors don’t seem quite convinced by these arguments leading up to the firm’s earnings announcement on July 22.
Leap Wireless International, Inc. (NASDAQ:LEAP) was the biggest mover by many metrics on today’s market. The wireless carrier’s shares jumped by more than 100% in today’s trading to finish the day at $16.95 per share. The biggest driver of the change was, of course, the announcement that AT&T Inc. (NYSE:T) was set to purchase the company.
The deal is still subject to regulator approval but investors are optimistic that it should pass with little resistance judging by the boom in the price paid for shares in the company today.
WebMD Health Corp. (NASDAQ:WBMD) shares fell by 4.76% on today’s market after the company announced preliminary results for its second quarter that disappointed investors. According to preliminary results the company is recovering and guidance for the rest of the year is strong. This was not enough to impress investors however, though the large price drop may be an invitation to others.
So far this year, shares in the company have risen by more than 120%. Investors are clearly worried that the long run of gains is over for the firm.
Ingredion Inc (NYSE:INGR) lost close to 10% of its value in Monday’s trading after the company revealed its earnings numbers for the second quarter of 2013. The company revealed that emerging market demand for its products was not as strong as thought, and the company was likely to see weaker than expected results through the rest of the fiscal year.