Monday’s lack of economic or earnings news led to mild losses across the board. The Dow Jones fell 0.16% to 13,971.24, while the S&P 500 and Nasdaq both dropped 0.06% to 1,517.01 and 3,192.01, respectively.
The slip came on the heels of a nice rally last week that saw the S&P 500 and Nasdaq log their sixth straight week of gains. Market returns year-to-date are still fairly solid, with all indices up around 6%.
Without much on earnings, even the smallest bit of corporate news moved individual stocks.
Danish drug manufacturer Novo Nordisk (NYSE:NVO) sank nearly 14% on news that its diabetes drug Tresiba requires additional testing prior to approval by the U.S. Food and Drug Administration, which could delay the drug until 2015 or 2016. French-based Sanofi (NYSE:SNY), which makes a competing product, rose over 3% on the day.
Shares of AOL (NYSE:AOL) rose over 7% to more than a two-month high after the company posted strong earnings and revenue growth on Friday. AOL shares are up over 22% year-to-date as the media and global web services company continues to amaze its doubters.
Microsoft (NASDAQ:MSFT) shrugged off losing its spot as the third-largest search engine and rose over 1% on the day. Russia-based Yandex (NASDAQ:YNDX) took over the spot according to a report from comScore. Google (NASDAQ:GOOG) continues to hold a commanding lead on the remainder of the field.
- Diamond Foods (NASDAQ:DMND): Up 15.2% ($2.19) to $16.60
- Zynga (NASDAQ:ZNGA): Up 7.0% (24 cents) to $3.67
- Trina Solar (NYSE:TSL): Up 3.4% (17cents) to $5.17
- Green Mountain (NASDAQ:GMCR): Down 4.5% ($2.04) to $43.12
- Tellabs (NASDAQ:TLAB): Down 4.0% (9 cents) to $2.14
- MGM Resorts (NYSE:MGM): Down 3.4% (46 cents) to $13.05
Marc Bastow is an Assistant Editor at InvestorPlace.com. As of this writing he is long MSFT.