Daily Market Wrap: May 21, 2012 Monday, May 21, 5:21 PM ET
The markets opened on a positive note, and held onto their gains, despite ongoing concerns over the euro zone and a possible deal for Greece.
On the earnings front, Lowe's (NYSE:
LOW) posted a 14 percent increase in fiscal first quarter earnings, thanks to warmer weather, but the company lowered its full-year earnings outlook.
Shares of Campbell Soup (NYSE:
CPB) are trading lower today after food company posted fiscal third quarter earnings which fell 5.4 percent, partly due to rising commodities prices.
More disappointment for Facebook (NASDAQ:
FB) as the stock fell more almost 13 percent earlier today, and then making a bit of a recovery, after debuting on the Nasdaq on Friday.
In M&A news, Eaton (NYSE:
ETN) announced it will acquire electrical equipment maker Cooper Industries ( CBE) in a deal worth $11.8 billion in cash and stock.
Tomorrow, we'll take a look at the data for existing home sales, as well as earnings results from Best Buy (NYSE:
BBY) and Medtronic (NYSE: MDT).
For Marketnewsvideo.com, I'm Sayoko Murase.
Monday Sector Laggards: Oil & Gas Exploration & Production, Metals & Mining Stocks
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Monday Sector Leaders: Drugs, Consumer Services
Related symbols: VSAR, EGRX, WTW, MNRO
Thursday Sector Laggards: Sporting Goods & Activities, Information Technology Services
Related symbols: ISCA, WBAI, ICLD, CTSH
Monday's ETF with Unusual Volume: PSL
Related symbols: PSL, MO, KR, DPS, STZ
Monday's ETF Movers: XBI, GXC
Related symbols: EGRX, XON, YOKU, FENG, GXC, XBI
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Daily Dividend Report: SBR, MMS, SJI, CMRE, NWN, ALG
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Daily Market Wrap: May 21, 2012
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