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Split decision on stocks

Monday, May 09, 2016 - 01:18

Stocks closed out the first trading session of the week little changed as weakness in energy and basic materials offset gains in Allergan and other healthcare companies. Bobbi Rebell reports.

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The drop in oil prices weighed on stocks, as a decline in energy and materials shares battled against a rally in healthcare stocks- ending in a split decision- with stocks closing mixed. Investors are cashing in on the commodities rally, says Kevin Caron of Washington Crossing Advisors: SOUNDBITE: KEVIN CARON, PORTFOLIO MANAGER, WASHINGTON CROSSING ADVISORS (ENGLISH) SAYING: "Perhaps this is a moment for traders to take a pause, absorb those gains, and now think about what comes next." Coffee 'n doughnuts, anyone? The owner of Keurig Green Mountain, JAB Holding, is taking Krispy Kreme Doughnuts private for about $1.4 billion. Krispy Kreme shares soared. Going south: shares of Lending Club. The CEO and founder of the world's largest peer-to-peer lender abruptly resigned after an internal probe found improper sales of loans. Valeant also falling. The drug maker says it'll file its first quarter report ahead of its July 31 deadline. It had earlier failed to file its annual report by its March 15 deadline. Twitter shares down. The microblogging service said it would launch an update to its Periscope live video app in coming weeks. It said that would allow users to save broadcasts. Gains in German and Greek stocks lifted European shares. But the FTSE 100 closed slightly lower.

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Split decision on stocks

Monday, May 09, 2016 - 01:18