Mid-Afternoon Market Update: Datalink Surges Following Acquisition News; HSN Shares Slide

Toward the end of trading Monday, the Dow traded up 1.95 percent to 18,237.83 while the NASDAQ climbed 2.35 percent to 5,164.77. The S&P also rose, gaining 2.10 percent to 2,128.93.Leading and Lagging Sectors Monday afternoon, technology shares gained by 2.43 percent. Meanwhile, top gainers in the sector included Datalink Corporation (NASDAQ: DTLK ), and Sothebys (NYSE: BID ).In trading on Monday, telecommunications services shares rose by just 0.9 percent. Meanwhile, top losers in the sector included Shenandoah Telecommunications Company (NASDAQ: SHEN ), down 9 percent, and Internet Initiative Japan Inc. (ADR) (NASDAQ: IIJI ), down 7 percent.

Top Headline

LendingClub Corp (NYSE: LC ) reported a smaller loss than analysts estimated for the third quarter. Similarly, revenue also came in above the estimates.The company reported adjusted loss of $0.04 a share, exceeding expectations by $0.03 per share. Its revenue came in at $112.6 million, beating estimates by $9.29 million.Equities Trading UP Blue Nile Inc (NASDAQ: NILE ) shares shot up 34 percent to $40.73 after the company disclosed a deal with Bain Capital Private Equity and Bow Street LLC for $40.75 a share in cash.Shares of Datalink Corporation (NASDAQ: DTLK ) got a boost, shooting up 18 percent to $11.13 after Insight Enterprises, Inc. (NASDAQ: NSIT ) announced plans to acquire Datalink for $11.25 per share in cash.Medallion Financial Corp (NASDAQ: MFIN ) shares were also up, gaining 27 percent to $4.13 following Q3 results. Medallion Financial reported Q3 earnings of $5 million on revenue of $2 million.

Equities Trading DOWN Concordia International Corp (NASDAQ: CXRX ) shares dropped 38 percent to $1.99 after the company reported downbeat results for its third quarter. Concordia also disclosed that it is suspending its guidance. Shares of HSN, Inc. (NASDAQ: HSNI ) were down 10 percent to $32.45 after the company posted weaker-than-expected Q3 earnings. Plug Power Inc (NASDAQ: PLUG ) was down, falling around 10 percent to $1.27 as the company posted a wider-than-expected Q3 loss.Commodities In commodity news, oil traded up 1.07 percent to $44.54 while gold traded down 1.83 percent to $1,280.60.Silver traded down 1.04 percent Monday to $18.18, while copper rose 2.10 percent to $2.31.

Eurozone

European shares closed higher today. The eurozone's STOXX 600 climbed 1.53 percent, the Spanish Ibex Index rose 1.45 percent, while Italy's FTSE MIB Index surged 2.56 percent. Meanwhile the German DAX climbed 1.93 percent, and the French CAC 40 rose 1.91 percent while U.K. shares rose 1.70 percent.Economics Data on consumer credit for September will be released at 3:00 p.m. ET.

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Live Stock Market Updates - Sensex, Nifty uneven in front of Brexit vote

The INDIA VIX is up 2.21% at 18.5875. Out of 1,806 stocks exchanged on the NSE, 929 declined, 518 progressed and 359 stayed unaltered today.

The Indian securities exchange are swinging in a slender band of misfortunes and increases as Dalal Street peered toward the Brexit choice vote which is because of begin later in the day. The BSE Sensex opened 12.45 focuses down at 26,753.20, while Nifty opened 2.55 focuses down at 8,201.15.

At 10:29 AM, the S&P BSE Sensex is exchanging at 26,780 up 14 focuses, while NSE Nifty is exchanging at 8,202 down insignificant two focuses.

The BSE Mid-top Index is exchanging down 0.11% at 11,393, though BSE Small-top Index is exchanging up 0.27% at 11,420.

Some purchasing movement is found in auto, keeping money, pharma, modern and FMCG divisions, while influence, realty, utilities, capital merchandise, vitality, IT, shopper durables, metal and oil and gas areas are indicating shortcoming on BSE.

The INDIA VIX is up 2.21% at 18.5875. Out of 1,806 stocks exchanged on the NSE, 929 declined, 518 progressed and 359 stayed unaltered today.

An aggregate of 18 stocks enlisted a crisp 52-week high in exchanges today, while 12 stocks touched another 52-week low on the NSE.

Jain Irrigation Systems took off 6.5% to Rs.46.65 on BSE. The organization encountered a spurt in volumes by more than 3.75 times.

Natco Pharma bounced 5.2% to Rs.556.45.As per media reports, the pharma organization got USFDA endorsement for Sorafenib Tablets.

NTPC dropped 3% to Rs.147.50. Government will offer 2.06 crore offers in NTPC to qualified workers at a cost of Rs.115.90, a 5% rebate to the cost of Rs.122 at which the administration sold 5% stake in the force generator in February.

Shares of Idea Cellular were exchanging higher 044% at Rs.102 on BSE today. Around 10.7 lakh shares were exchanged a different piece at Rs.102-102.35 on the BSE.

Bharti Airtel exchanging imperceptibly bring down at Rs.363. Orange reports that, together with its backup has finished the obtaining of 100% of the portable administrator Airtel in Burkina Faso.

Bank of India exchanging possibly higher at Rs.95.75 on BSE. The bank has declared it has raised Rs.1000 Crore by issue of Basel-Ill Compliant Additional Tier I Bonds (Series-ll).

Sun Pharma Ltd stock was up by 1% at Rs.745. The board will hold a meeting on June 23, 2016 for assessing a proposition of Buy Back of Equity Shares of the Company.

KEC International bounced more than 4 percent on stowing new requests worth of Rs 1,036 crore.

MTNL climbed 3.8% to Rs.21.60. The organization said it would present its restoration plan to the Department of Telecommunications (DoT) by August this year.

DLF slipped 1.6% to Rs.137.80 on BSE. As indicated by media reports, worldwide financial specialists have submitted articulations of enthusiasm for securing stake in realty firm DLF Ltd's rental arm incorporate sovereign riches subsidizes, for example, GIC, Abu Dhabi Investment Authority and private value firm Blackstone Group Lp.

V-Guard Industries increased 0.32% to Rs.1367. The organization is wanting to set up two all the more assembling units, one for water radiators and another for fans.

The Indian rupee opened higher by 5 paise at 67.40/$ against US Dollar on Thursday as against the past close of 67.48/$.

As the world props for whirlwind of UK choice, financial specialists are prone to keep focused shore and watch how the Brexit circumstance unfurls today. While showcases all inclusive are supporting for the 'Obscure Unknown,' slant could experience an ocean change if the 'Leave battle' comes up triumphant. Until further notice, that seems more improbable. Results would stream down just amid the small hours on Friday, taking the nervousness right to the end of the week. Back home the controllers including RBI and SEBI have increased their vigil to defeat any great responses.

Asian market s are exchanging on a blended note. Nikkei 225 increased 0.50%. Hang Seng and Shanghai Composite are trading down.

US markets shut insignificantly lower.The Dow Jones modern normal fell 48.9 focuses, or 0.27%, the S&P 500 lost 3.45 focuses, or 0.17% and the Nasdaq Composite dropped 10.44 focuses, or 0.22%.

Save Bank Governor Raghuram Rajan faulted the record low credit development to the anxiety out in the open area banks and not because of high loan fees. Rajan purportedly said China ought to be seen as a "motivation" instead of "rivalry".

The Finance Minister will land at the Chinese capital Beijing tomorrow where he will take part in the First Annual Meeting of the Board of Governors' of Asian Infrastructure Investment Bank (AIIB) on 25th and 26th June, 2016. The Finance Minister will partake in various Sessions of two day AIIB Meeting including the Session on 'Framework and Global Economic Growth' and 'Financing Green Infrastructure: The Role of MDBs' among others.

Anil Swarup, Secretary, Coal, Government of India tending to the coal summit, asked every one of the partners present at the summit to think of proposals for the issues connected with the coal division.

Oil Minister Pradhan and Environment Minister Javadekar to dispatch pilot keep running for CNG as a fuel for bikes in New Delhi.


City Healthcare Ltd is wanting to offer shares in a first sale of stock (IPO) to raise around Rs.1,000 crore.

Author : Wealth Research