A recent rally in stocks has propelled the Dow to a gain of 2.4% for the month so far, in part driven by hopes of a Greek bailout deal. The S&P has advanced 2.15% in the same period.
In June, the Dow fell 2.2% and the S&P slipped 2.1%.
Concerns about Greece’s financial situation remain. The International Monetary Fund questioned Greece’s ability to implement the promised bailout overhauls and warned that the eurozone must commit to debt restructuring to ensure the program will work.
In the U.S., investors largely brushed off Federal Reserve Chairwoman Janet Yellen’s remarks to Congress. She reiterated the central bank was on a path to raise short-term rates this year as the domestic economy improves even amid global headwinds.
A pair of stronger-than-expected economic reports underscored the economic recovery. The producer-price index, which measures the prices at which companies sell goods and services, rose 0.4% in June, the Labor Department said. Core prices rose 0.3%. Economists had expected overall prices to climb 0.2% and core prices to rise 0.1%.
Bonanza Creek Energy Inc (NYSE:BCEI) declined -0.98%, trading on 2.06M shares, to end the trade at $13.11. If we look at its trading history of the past 52 weeks, the share price suffered a low of $12.71 and was moved to the maximum level of $62.89. The stock changed hands in a range of $12.71 to $13.97, bringing its market capitalization to about $683.90M. Bonanza Creek Energy Inc(NYSE:BCEI) an independent energy company, involves in the achievement, exploration, development, and production of onshore oil and associated liquids natural gas in the United States. The company’s oil and liquids weighted assets are located primarily in the Wattenberg Field in Colorado; and the Dorcheat Macedonia Field in southern Arkansas. It also owns and operates oil-producing assets in the North Park Basin in Colorado; and the McKamie Patton Field in Southern Arkansas.
Youku Tudou Inc (NYSE:YOKU) dropped -1.40%, to complete the trading session at $19.23, with a total volume of 2.88M shares. The stock, on average, trades on a volume of 3.86M shares. In the past 52 weeks, the share price has not declined below $11.85 and above $31.50. It floated in a range of $19.11 to $20.48 during the last trading session, with a beta value of 2.87. Its market capitalization now moved to about $3.69B. Youku Tudou Inc (ADR)(NYSE:YOKU) China’s most important Internet television company reported a new milestone in its IP-focused pan-entertainment strategy. A popular TV series The Journey of Flower, now being broadcast on the Youku Tudou platform simultaneously with TV, has generated over 1.8 million downloads for its mobile game since its release on June 25 and a record level of revenue for a single game at Youku Tudou.
ADTRAN, Inc. (NASDAQ:ADTN) recorded a decline of -1.16% and was in a range of $15.93-$17.67 before closing at $16.12. The share price hit its 52-week low of $15.67 and $24.13 was the best price in the same period. ADTRAN, Inc.(NASDAQ:ADTN) declared that its Board of Directors has authorized the repurchase of an additional 5,000,000 shares of the Company’s common stock to commence upon completion of the repurchase plan reported May 19, 2014. There are 1,869,498 shares remaining to be repurchased under the May 2014 plan. Upon completion of the current plan, the new plan will be implemented through open market or private purchases from time to time as conditions warrant.
SINA Corp (NASDAQ:SINA) plumped -2.86% yesterday, bringing its market capitalization around $2.63B. The total number of shares that changed hands during the session was 2.92M shares, as compared to average trading volume of 2.49M shares. The share price, after opening at $44.00, made a high of $44.34 and low of $41.98 to end the day at $42.22. SINA Corp(NASDAQ:SINA) a most important online media company serving China and the global Chinese communities, declared that it has joined a consortium with Mr. Xin Zhou, co-chairman of the board of directors and chief executive officer of E-House Holdings Limited, a company incorporated in the Cayman Islands and listed on the New York Stock Exchange, and Mr. Neil Nanpeng Shen, a member of the board of directors of E-House, to work exclusively with one another with respect to a proposed transaction to acquire all the outstanding ordinary shares of E-House not already owned by SINA, Mr. Xin Zhou, Mr. Neil Nanpeng Sheng or their respective affiliates.