Stocks were little changed Monday, as traders mulled a warning from AMD
, a stronger than expected monthly jobs report and a steep drop in oil prices.
AMD shares rose despite news that its price war with Intel remains fierce, as traders focused instead on the company’s plans to reduce costs. Intel
shares gained on the day too. Both companies will report full results later this month, Intel on April 17 and AMD on April 19.
A stronger than expected March jobs gain, meanwhile, eased slowdown fears but sparked inflation concerns, while a big drop in oil prices helped limit downside.
surged 26% on news that it will be acquired by Agilent
, while Embarcadero Technologies
edged higher on a private equity buyout deal.
gained 9% after raising guidance.
climbed 16% on a server deal with the U.S. Postal Service.
lost 10% after losing another legal round.
dropped on their outlooks.
fell on accounting concerns.
The Nasdaq lost 2 to 2469, the S&P 500 added 1 to 1444, and the Dow gained 9 to 12,569. Volume rose to 2.35 billion shares on the NYSE, and 1.8 billion on the Nasdaq. Declining issues led by a 16-15 margin on the NYSE, and 17-13 on the Nasdaq. Upside volume was 57% on the NYSE, and 56% on the Nasdaq. New highs-new lows were 295-21 on the NYSE, and 168-63 on the Nasdaq.