Leading and Lagging Sectors On Monday, the basic materials sector proved to be a source of strength for the market. Leading the sector was strength from Rentech Nitrogen Partners LP (NYSE: RNF) and Joy Global Inc. (NYSE: JOY). In trading on Monday, technology shares slipped by 1.25 percent. Meanwhile, top losers in the sector included Bill Barrett Corporation (NYSE: BBG), down 9 percent, and Teekay Tankers Ltd. (NYSE: TNK), off 7 percent. Top Headline Dean Foods Co (NYSE: DF) reported stronger-than-expected earnings for the first quarter, and issued a strong forecast for the second quarter. The Dallas, Texas-based company reported a quarterly net loss of $73.7 million, or $0.70 per share, versus a year-ago loss of $9 million, or $0.09 per share. Excluding non-recurring items, the company’s adjusted earnings came in at $0.24 per share. Its sales declined to $2.05 billion from $2.34 billion. However, analysts were expecting a profit of $0.17 per share on revenue of $2.11 billion. Equities Trading UP Rosetta Resources Inc. (NASDAQ: ROSE) shares shot up 28 percent to $24.78 after the company agreed to be acquired by Noble Energy, Inc. (NYSE: NBL) in a deal valued at $2.1 billion. Shares of Nevro Corp (NYSE: NVRO) got a boost, shooting up 23 percent to $55.95. Nevro reported a Q1 loss of $0.57 per share on revenue of $9.662 million. The company received the FDA approval for its Senza spinal cord stimulation system. Zulily Inc (NASDAQ: ZU) shares were also up, gaining 10 percent to $14.56 following the report of a 9.2 percent stake by Alibaba. Alibaba Group Holding Ltd (NYSE: BABA) has taken a stake of more than 9% Zulily, according to a Form 4 filing on Friday. The Wall Street Journal reported on Saturday that Alibaba was not looking to acquire Zulily, according to a source. Equities Trading DOWN Etsy Inc (NASDAQ: ETSY) shares tumbled 9 percent to $20.68. Wedbush downgraded Etsy from Neutral to Underperform. Shares of MannKind Corporation (NASDAQ: MNKD) were down 6 percent to $3.57. JP Morgan downgraded MannKind from Neutral to Underweight. Noble Energy, Inc. (NYSE: NBL) was down, falling 5 percent to $46.47 after the company announced its plans to buy Rosetta Resources Inc. (NASDAQ: ROSE) in a deal valued at $2.1 billion. Commodities In commodity news, oil traded up 0.59 percent to $59.75, while gold traded down 0.68 percent to $1,180.80. Silver traded down 1.46 percent Monday to $16.23, while copper fell 0.65 percent to $2.90. Eurozone European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.29 percent, the Spanish Ibex Index rose 0.18 percent, while Italy’s FTSE MIB Index gained 0.04 percent. Meanwhile, the German DAX slipped 0.31 percent, and the French CAC 40 declined 1.23 percent while UK shares rose 2.07 percent. Economics On the economics calendar Monday, there is no important data due out. See more from Benzinga © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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