U.S. stocks started the week on a sour note Monday, as another slump in oil prices sent investors for cover and away from equities, piling into havens such as government bonds and gold.
The S&P 500 SPX, -0.55% fell sharply, as eight of 10 main sectors were trading lower, with energy sector stocks slumping more than 3%.
The Dow Jones Industrial Average DJIA, -0.30% was down by triple-digits again, with 25 of its 30 components in negative territory. Chevron Corp. CVX, -1.39% and Exxon Mobil Corp. XOM, -1.78% were leading the losses, both down about 2%.
The Nasdaq Composite COMP, -0.52% dipped in spite of a number of mergers and acquisitions deals among bio-technology stocks.
Following Stocks Are The Most Eye-Catching Stocks Of The Day:
Halcon Resources Corp(NYSE:HK) declined -4.40% and hits the new 52-week low of $1.42, and is at $1.52, after the news that additional reductions to its 2015 drilling and completion budget. Halcon’s drilling and conclusions budget for 2015 is $375 - 425 million. Capital will be directed towards locations in the Fort Berthold area of the Williston Basin and El Halcon in East Texas. Additionally, the Company anticipates to spend about $20 million on leasehold, infrastructure, seismic and other in 2015.
Arca Biopharma Inc (NASDAQ:ABIO) declined -2.67% to $24.01, in the recent trading session, after the news that it is beginning registered underwritten public offerings of 20,260,000 shares of its ordinary stock and 26,000,000 depositary shares, each of which shows a 1/20th interest in a share of Southwestern Energy’s Series B Mandatory Convertible Preferred Stock, with a liquidation preference of $1,000 per share (equivalent to a $50 liquidation preference per depositary share).
SandRidge Energy Inc.(NYSE:SD), hits the new 52-week low of $1.26, and is now at -4.41% decline to $1.30. The company declared financial results for the quarter that ended September 30, 2014. The corporation also filed restated results for quarterly periods in 2013 and 2014. Few of the key highlights for the third quarter are as follows:
Adjusted EBITDA, pro forma for divestitures and net of Noncontrolling Interest, was $225 million in the third quarter of 2014 contrast to $160 million in the third quarter of 2013, 41% year-over-year growth.
Adjusted operating cash flow of $203 million for third quarter 2014 contrast to $227 million in third quarter 2013.
AK Steel Holding Corporation(NYSE:AKS) dipped -6.30% to $5.06 and hits the new 52-week low of $4.95, after the news that it plans to release its fourth quarter and full-year 2014 financial results before the opening of trading on the New York Stock Exchange on Tuesday, January 27, 2015.
AK Steel will also offer live listening access on the Internet to its earnings conference call to be held at 11:00 a.m. Eastern Time on January 27, 2015.open-label, randomized study to evaluate the efficacy, safety, and tolerability of six weeks of 50 mg of ACH-3102 and 400 mg of sofosbuvir, a marketed nucleotide polymerase inhibitor, once daily, in treatment-naive genotype 1 HCV-infected patients. The chief objective of the study is determination of sustained viral response 12 weeks (SVR12) after achievement of therapy.
