Stocks Turned Positive, Oil Prices Dropped

U.S. stocks opened slightly lower and turned positive in the early trading on Monday. The Dow Jones Industrial Average lately rose 13.19 points, or 0.07%, to 17,753.82. The S&P 500 gained 4.27 points, or 0.21%, to 2,061.41. The Nasdaq Composite added 18.74 points, or 0.40%, to 4,754.89.

Oil fell on Monday, as caution among investors prevented a return to late April’s 2016 price highs. U.S. crude futures fell by 15 cents to $44.51 a barrel by 1252 GMT, having risen earlier by as much as $1.28, while Brent crude fell 33 cents to $45.04 a barrel.

Anti-virus software pioneer John McAfee has been tapped as chief executive of tiny MGT Capital Investments Inc, an investor in fantasy sports and mobile games. MGT Capital said on Monday it would change its name to John McAfee Global Technologies Inc and that it would buy some assets of McAfee’s anti-spy software company, D-Vasive Inc.

Doughnuts Inc. agreed to be acquired by a JAB Holding Co. subsidiary in a $1.35 billion deal. Investors in the coffee-and-doughnut chain will receive $21 a share in cash, Winston-Salem, North Carolina-based Krispy Kreme said Monday in a statement. That represents a 25 percent premium over the stock’s closing price on Friday.

Sotheby’s (BID) said Monday that it had a first-quarter net loss of $25.9 million, or 41 cents per share, after net income of $5.1 million, or 7 cents per share, for the same period last year. Revenue for the quarter totaled $106.5 million, down from $155.7 million for the same period last year.

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