Monday, November 3, 2014

Morning Movers: Covance Soars on LabCorp Takeover; Newmont Mining Gains on Upgrade

After last week’s big rally, stocks are giving few hints about where they’ll head today.

Paul Turner

S&P 500 futures have dipped 0.25 point, while Dow Jones Industrial Average futures have fallen 12 points. Nasdaq Composite futures have risen 1.5 points.

Covance (CVD) has soared 26% to $100.62 after it agreed to be acquired by Laboratory Corp. of America (LH) for $6.1 billion, or about $105 a share. LabCorp has dropped 3.9% to $105.

Home Depot (HD) has fallen 0.5% to $96.99 after the home-improvement retailer was cut to Market Perform from Outperform at Raymond James.

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Newmont Mining (NEM) has gained 1% to $18.95 after the gold miner was upgraded to Hold from Sell at Mackie Research.

Church & Dwight (CHD) has dropped 1.2% to $71.51 after beating earnings but offering below-consensus guidance for the current quarter.

 

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