Mid-Day Market Update: Crude Oil Down Over 1%; Eldorado Resorts Shares Surge

Midway through trading Monday, the Dow traded up 0.83 percent to 24,561.83 while the NASDAQ climbed 0.41 percent to 7,135.72. The S&P also rose, gaining 0.67 percent to 2,674.12.

Leading and Lagging Sectors

On Monday, the utilities shares climbed 1.18 percent. Meanwhile, top gainers in the sector included Ormat Technologies, Inc. (NYSE: ORA), up 4 percent, and NRG Yield, Inc. (NYSE: NYLD), up 3 percent.

In trading on Monday, information technology shares rose by just 0.1 percent.

Top Headline

Bank of America Corporation (NYSE: BAC) reported better-than-expected profit for its first quarter.

The bank said it earned $0.62 per share in the first quarter on revenue of $23.1 billion versus expectations of $0.59 per share on revenue of $23.06 billion.

Equities Trading UP

Eldorado Resorts, Inc. (NYSE: ERI) shares shot up 16 percent to $41.2375 after the company announced plans to buy Tropicana Entertainment for $1.85 billion in cash. MGM Resorts International (NYSE: MGM) reported the sale of Grand Victoria Casino in Elgin, Illinois to Eldorado Resorts for $327.5 million in cash.

Shares of

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