This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Stocks Flat After Six Weeks of Increases, Interrupted by Europe

On the corporate front, shares of Lowe's (LOW - Get Report) closed down 5.8% after the home-improvement retailer posted second-quarter earnings of 64 cents a share on revenue of $14.25 billion, missing Wall Street's consensus on both the top and bottom lines.

Best Buy (BBY) was also in focus after the Minneapolis-based consumer electronics retailer named named Hubert Joly as its chief executive officer following a busy weekend of jousting with founder Richard Schulze regarding his efforts to take the company private. Joly previously served as CEO of hospitality and restaurant giant Carlson, whose businesses include the restaurant chain TGI Friday's. The stock lost 10.4%.

Monday's big deal was in the insurance space as Aetna (AET) agreed to purchase Coventry Health Care ( CVH ) in a transaction valued at $7.3 billion, including the assumption of debt. The deal valued Coventry shares at $42.08 in cash and Aetna stock as of Friday's close, a 20% premium. Aetna shares finished up 5.6%, while Coventry's stock jumped 20.3%.

October crude oil futures fell 6 cents to settle at $96.26 a barrel, while December gold futures rose $3.60 to settle at $1622.60 an ounce.

The benchmark 10-year Treasury was rising 2/32, diluting the yield to 1.814%. The greenback was off 0.12%, according to the dollar index.

-- Written by Andrea Tse in New York.

>To contact the writer of this article, click here: Andrea Tse.

2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
AAPL $130.28 0.47%
LOW $73.16 -0.29%
FB $81.53 -1.07%
GOOG $565.06 3.30%
TSLA $218.42 -0.08%


DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs