Market Focus

Kraft & Mondelez

Kraft and Mondelez have been charged with trading manipulation. The Commodity Futures Trading Commission is suing both food giants with the manipulation and attempted manipulation of cash wheat and wheat futures prices. Shares of Kraft were little changed after the close. Before the close Kraft’s stock was up four percent $90.70. Mondelez’s stock also didn’t react initially, but before the close it was up slightly to $36.29.

Monsanto

Monsanto’s second quarter earnings tumbled 15 percent, missing estimates, as corn seed sales weakened and a stronger dollar weighed on its results. The seed giant also says its full year results will take a hit because of the strengthening dollar. Shares rose about four percent to $116.96.

Sears 

Sears plans to raise more than $2.5 billion from shareholders by offering rights to buy shares in a real estate investment trust, known as a REIT. That REIT will hold some of the company’s stores and is the latest attempt by the struggling retailer to shore up its finances. The stock was off a few cents to $41.33.

Simon Property

Simon Property withdrew its $17 billion buyout offer for rival mall operator Macerich. This after Macerich’s board decided not to hold discussions on the bid. Macerich was off more than 6.5 percent. Simon property rose one percent.

GoDaddy

GoDaddy made its Wall Street debut today. The web hosting company priced its initial public offering at $20 a share, above the expected price range. That values the company at an estimated $4.5 billion, including debt. Shares closed at $26.15, a gain of 30 percent.

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