BUZZ-U.S. Stocks on the Move-Citigroup, Harmonic, Progenics, Kandi
(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for more market insights, including options activity, ; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stock indexes rose on Monday, sparked by the latest flurry of merger activity and earnings from Citigroup, putting the S&P 500 on pace to climb for a second straight session. The Dow Jones industrial average was up 0.74 percent at 17,068.55, the S&P 500 was up 0.54 percent at 1,978.1 and the Nasdaq Composite was up 0.68 percent at 4,445.67.
** CITIGROUP INC,$48.48, +3.15 pct
The company said it agreed to pay $7 billion to settle a U.S. government investigation into mortgage-backed securities the bank sold in the run-up to the 2008 financial crisis.
Citigroup on Monday also reported a stronger-than expected adjusted quarterly profit as its fixed-income business performed ahead of forecasts, taking the sting out of the settlement. However, its quarterly profit fell 96 percent.
The stock was one of the top boosts to the S&P 500.
** PROFESSIONAL DIVERSITY NETWORK INC, $4.42, +4.57 pct
The online professional network operator said it would buy NAPW Inc, the owner of National Association of Professional Women, for $3.5 million in cash and the issuance of 6.3 million shares to sole shareholder of NAPW.