Little News, Little Wiggle — Monday’s IP Market Recap

by Marc Bastow | February 11, 2013 4:52 pm

[1]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[2]) 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[3]), which makes a competing product, rose over 3% on the day.

Shares of AOL (NYSE:AOL[4]) 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[5] its doubters.

Microsoft (NASDAQ:MSFT[6]) shrugged off losing its spot as the third-largest search engine[7] and rose over 1% on the day. Russia-based Yandex (NASDAQ:YNDX[8]) took over the spot according to a report from comScore. Google (NASDAQ:GOOG[9]) continues to hold a commanding lead on the remainder of the field.

Electric car-maker Tesla (NASDAQ:TSLA[10]) saw its shares fall just over 2% after an article[11] in The New York Times discussed difficulties in long-distance travel with electric cars.

Earnings notables kick back into gear tomorrow, with Coca-Cola (NYSE:KO[12]), Goodyear Tire (NASDAQ:GT[13]), and McGraw-Hill (NYSE:MHP[14]) due to report.

Three Up

• Diamond Foods (NASDAQ:DMND[15]): Up 15.2% ($2.19) to $16.60
• Zynga (NASDAQ:ZNGA[16]): Up 7.0% (24 cents) to $3.67
• Trina Solar (NYSE:TSL[17]): Up 3.4% (17cents) to $5.17

Three Down

• Green Mountain (NASDAQ:GMCR[18]): Down 4.5% ($2.04) to $43.12
• Tellabs (NASDAQ:TLAB[19]): Down 4.0% (9 cents) to $2.14
• MGM Resorts (NYSE:MGM[20]): 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.

Source URL: https://investorplace.com/2013/02/mondays-ip-market-recap-aol-msft-ko-gt-mhp-tsla/

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