Wall Street started the week with a rally as all the major indices were in the green. The Dow 30 was up 106, the S&P 500 gained 11, and the Nasdaq 100 added 13. Tomorrow traders will get a look at consumer confidence numbers which are due out in the morning.
Mylan (NYSE: MYL) was once again one of the major headlines today as the company's announced that it will sell a generic version of its EpiPen injector at half the price of the branded product. The move to sell a two-pack for $300 comes after widespread outrage over the 500% increase in the allergy treatment's price over eight years. The product will be exactly the same, just with a different label and lower cost. Shares were in the red again today, closing lower by 0.56%.
Herbalife (NYSE: HLF) shares shot up another 4.63% today following news Friday that Carl Icahn raised his stake in the nutritional supplements company. Icahn bought another 2.3 million shares, boosting his stake to 21%. That came after fellow billionaire Bill Ackman told CNBC he was approached to buy some of Icahn's stake in the company. Carl Icahn criticized Ackman for what he called Ackman's "obsession" with Herbalife.
Caesars Entertainment (NYSE: CZR) fell apart today, gapping lower on the open. Shares closed off their lows of the session, but were still lower by 15%. News came out late Friday that a judge refused to protect the parent company of bankrupt Caesars Entertainment Operating Company from multibillion-dollar bondholder lawsuits. The company says that it plans to appeal the ruling.
Symantec (NASDAQ: SYMC) enjoyed another move higher today (1.73%) that sent shares to new highs. The move comes after Barron's reported this weekend that shares of the software security firm could rise 25% or more over the next two years. Barron's said cost cuts, the acquisition of Blue Coat Systems and new management could help propel the stock price.