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From Briefing.com: 4:15 pm : The stock market began the new trading week on the defensive, with the major averages posting losses across the board. The Russell 2000 (-1.5%) and Nasdaq (-1.2%) led the retreat, while the Dow Jones Industrial Average (-1.0%) and S&P 500 (-1.1%) fared a bit better.

The major averages started the session in the red with little help from other global indices as markets in Asia and Europe posted losses. Contributing to the cautious sentiment was an apparent escalation of tensions in Eastern Ukraine, where pro-Russian protesters, demanding referendums on independence, took control of government buildings in four cities. Most notably, protesters in Donetsk called on Russian President Vladimir Putin to send in Russian peacekeepers.

Similar to Friday, equity indices spent the session in a steady retreat as momentum names remained volatile. Biotechnology displayed early strength, but the industry group notched a session high during the opening hour before spending the remainder of the day in a battle with its flat line. The iShares Nasdaq Biotechnology ETF (IBB 226.82, +1.52) tacked on 0.7%, while SPDR S&P Biotechnology ETF (XBI 133.22, -0.24) shed 0.2%. For its part, the health care sector (-1.1%) ended in-line with the S&P 500, while consumer staples (+0.3%), telecom services (unch), and utilities (-0.2%) outperformed.

Elsewhere, the six cyclical sectors registered losses between 0.8% and 1.9%. Even though the tech-heavy Nasdaq Composite lagged, the technology sector (-0.8%) outperformed thanks to gains in some top components. Cisco Systems (CSCO 22.85, +0.14), IBM (IBM 194.52, +2.75), and Intel (INTC 26.48, +0.32) posted gains between 0.6% and 1.4%, while momentum names remained volatile. Facebook (FB 56.95, +0.20) gained 0.4%, while LinkedIn (LNKD 159.65, -6.18) and Tesla (TSLA 207.52, -4.70) lost 3.7% and 2.2%, respectively.

Other momentum names like Amazon.com (AMZN 317.76, -5.24) and Priceline.com (PCLN 1169.73, -8.35) played a part in the underperformance of the consumer discretionary sector (-1.9%), which widened its year-to-date loss to 5.2%. Retailers ended broadly lower with the SPDR S&P Retail ETF (XRT 83.01, -1.89) falling 2.2%, while homebuilders did not have a much better showing. The iShares Dow Jones US Home Construction ETF (ITB 23.94, -0.65) lost 2.6%.

With stocks ending near their lows, participants displayed demand for volatility protection, sending the CBOE Volatility Index (VIX 15.57, +1.61) to mid-March levels.

Treasuries posted modest gains with the benchmark 10-yr yield slipping three basis points to 2.70%.

For the second session in a row, participation was above average with nearly 820 million shares changing hands at the NYSE.

Today's economic data was limited to the Consumer Credit report for February, which indicated an increase of $16.50 billion after increasing an upwardly revised $13.80 billion (from $13.70 billion) in January. That was the largest monthly expansion since October 2013. The Briefing.com consensus expected consumer credit to increase by $14.30 billion. Typically, consumer credit is a volatile measure that often goes through substantial revisions before the final data are released. The revisions to January, however, were much milder than normal.

Tomorrow's economic data will be limited to the Job Openings and Labor Turnover Survey, which will be released at 10:00 ET.

S&P 500 -0.2% YTD
Dow Jones Industrial Average -2.0% YTD
Russell 2000 -2.2% YTD
Nasdaq Composite -2.3% YTD

DJ30 -166.84 NASDAQ -47.97 SP500 -20.05 NASDAQ Adv/Vol/Dec 638/2.15 bln/2140 NYSE Adv/Vol/Dec 831/818.8 mln/2235

3:30 pm :

June gold traded lower today despite weakness in the dollar index. It dipped to a session low of $1295.80 per ounce in late morning action and eventually settled at $1298.20 per ounce, or 0.4% lower.
May silver spent most of the floor session in the red, trading as low as $19.77 per ounce in early morning action. It rose to a session high of $20.01 per ounce but fell back below the unchanged line and settled with a 0.3% loss at $19.91 per ounce.
May crude oil fell for the first time in three sessions on reports that Libya's conflicting parties reached a deal to open 2 ports, essentially doubling its capacity.
The energy component touched a session high of $101.32 per barrel in morning action but quickly reversed back into the red. It brushed a session low of $99.92 per barrel and settled with a 0.7% loss at $100.44 per barrel.
May natural gas, on the other hand, traded higher, rising as high as $4.53 per MMBtu. It sold off slightly heading into the close and settled with a 0.9% gain at $4.47 per MMBtu.

4:03PM Intel to change financial reporting structure (INTC) 26.48 +0.32 :

These changes will be comprised of the following:
PC Client Group (PCCG): PCCG will now include the results of our gateway and set-top box business, previously reported as the Service Provider Group within the other Intel architecture (Other IA) operating segments.
Data Center Group (DCG): DCG will now include the communications infrastructure portion of the Intelligent Systems Group, which had been previously reported in the Other IA operating segments.
Internet of Things Group (IOTG): The newly formed IOTG includes the embedded portion of the Intelligent Systems Group. Wind River Software Group (Wind River) will also transfer from the software and services operating segments to be part of the newly formed IOTG.
Mobile and Communications Group (MCG): MCG includes the Phone Group, the Tablet Group and Multi-Comm, all previously part of the Other IA operating segments. Software and services operating segments: The software and services operating segments will reflect the removal of Wind River. McAfee, Inc. (McAfee) and the Software and Solutions Group will continue to be part of the aggregated software and services operating segments.
All Other: All other will now include the remaining components of the Other IA operating segments, specifically: New Devices Group and Netbook Group. All other will continue to include Non-Volatile Memory (NVM) and Corporate.

1:08PM Notable movers of interest (SCANX) : The following are some of today's most notable movers of interest, categorized by market capitalization (large cap over $10 billion and mid cap between $2-10 billion) and ranked by % change (all stocks over 100K average daily volume).

Large Cap Gainers

PBR (13.97 +4.96%): Strength in Brazilian large cap companies: CBD, BSBR, UGP, ITUB, BBD also higher
INTC (26.61 +1.74%): Upgraded to Outperform from Sector Perform at Pacific Crest
PG (80.8 +1.29%): Increased quarterly dividend 7% to $0.6436 from $0.6015 per share

Large Cap Losers

MGM (24 -5.62%): Weakness in large cap casino and gaming related companies: MPEL, LVS also lower
KMX (43.6 -4.30%): Target lowered to $50 from $52 at RBC Capital Markets, believes it will be difficult for co to outperform in near-to-mid term in the face of slowing trends
BIDU (143.09 -4.19%): Trading lower following speculation that co may acquire Ctrip.com (CTRP)

Mid Cap Gainers

QCOR (77.98 +14.9%): Acquired by Mallinckrodt Pharmaceuticals (MNK) in a transaction valued at ~$5.6 bln; QCOR shareholders to receive $30 in cash and 0.897 MNK shares per share of QCOR stock
TFSL (12.85 +6.46%): Board approved 5 mln share stock repurchase program; Federal Reserve Bank of Cleveland has terminated the Memoranda of Understanding between the company and Third Federal Savings & Loan Association of Cleveland, MHC
UTHR (94.08 +3.45%): Upgraded to Buy from Hold at Standpoint Research, target $118

Mid Cap Losers

WWE (22.4 -20.06%): Announced that WWE Network sold ~667k subscriptions within first 42 days of launch, lower than some had been expecting
MNKD (6.17 -10.19%): Announced the FDA has extended the Prescription Drug User Fee Act date for AFREZZA by three months to July 15, 2014 in order to provide time for a full review of information submitted in response to the FDA's requests
AEO (11.79 -7.03%): Downgraded to Underperform from Market Perform at Cowen

11:55AM S&P -14 dips to minor new low of 1850 (SPY) : Note that its 2013 high, flat line for the year and its 50 day ema come into play at 1849/1848.

11:52AM Stocks/ETFs that traded to new 52 week highs/lows this session - New lows (76) outpacing new highs (39) (SCANX) : Stocks that traded to 52 week highs: ATI, BXP, CART, CENX, CQH, DMLP, DYN, ECA, EMES, ESLT, GAS, GSJK, ITRN, KFS, KND, MTR, NCBC, NGLS, NOA, NRG, NU, NYLD, PEBO, PFIS, PIH, PRSC, QCOR, REMY, SEM, SGU, SLG, SOHO, TFSL, TI, TI.A, UPL, VOCS, WPT, WSTG

Stocks that traded to 52 week lows: ACUR, AEO, AEPI, ALAN, AMAG, ANAD, ARQL, ARRY, ATRS, AVD, AVEO, AVNW, AXR, BLFS, BRDR, BTX, CCCL, CLSN, COOL, CPXX, CRCM, CTRX, DRNA, EGAN, FOR, GEOS, GLMD, GNI, GOOG, GRAM, GTIV, GTXI, GYRO, HERO, INFI, INTX, KIPS, LIQT, LITB, LMOS, LPDX, LXRX, MDWD, MELA, MELI, MIND, MITK, NATR, NEWL, NSR, ONE, ONTX, PIR, PKT, QSII, REPH, SFLY, SPEX, SQBK, STRL, SUNS, TBNK, TCRD, TECUA, TEDU, TWMC, UEC, UNXL, VHI, VIP, VLGEA, VRNS, VSAR, VVUS, WPRT, XOOM

ETFs that traded to 52 week highs: EWI, EWP, GULF

ETFs that traded to 52 week lows: none


9:59AM Sectors displaying relative strength (TECHX) : The market averages have edged off morning lows in recent trade, sectors that have displayed relative strength vs. the S&P on this move include recent laggards (Semi SMH, Technology XLK, Software IGV, Internet FDN, Biotech IBB along with Transports IYT, Gold Miners GDX, Gold GLD, Silver SLV, Utility UTIL, REITs IYR.

9:02AM EXFO acquired the assets of ByteSphere; no terms disclosed (EXFO) 5.06 : Co announced it has acquired the assets of ByteSphere LLC, a privately held software company in the Boston area that specializes in global IT management and network monitoring solutions. Terms of the transaction were not disclosed.

Mellanox Technologies (MLNX) and Pixit Media announced that Glassworks has selected a combined Mellanox and Pixit Media solution to power its visual effects and post-production storage and networking infrastructure.

agreement with Fujitsu (FJTSY). The agreement covers the sale of Fujitsu's 2G, 3G and 4G terminal unit and infrastructure equipment products, including LTE and LTE-Advanced products.

Altera (ALTR) announced that Harmonic (HLIT) has chosen Altera's new 4Kp60-capable H.265 enhanced motion estimation engine, a server co-processing solution based on the co's Stratix V FPGAs to improve efficiency and performance of Harmonic's PURE Compression Engine for the delivery of 4Kp60 content.

Silicon Labs (SLAB) named 20-year IBM veteran Michele Grieshaber as chief marketing officer.

8:39AM Silicon Motion updates guidance; sees gross margin in the lower half of the company's guidance range of 48 to 50% (SIMO) 16.70 : SIMO updates guidance:

Co says Q1 sequential revenue growth expected to be near the high-end of the original guidance range that the company issued on January 28, 2014, of flat to down 10% sequentially. Consensus currently represents a -4% sequential revenue change.
Gross margin (non-GAAP) is expected to be within the lower half of the company's guidance range of 48 to 50%.

Seagate Technology (STX) is now shipping the 6TB hard disk drive - the Seagate Enterprise Capacity 3.5 HDD v4.

8:08AM Freescale Semi enters into definitive agreement to purchase Mindspeed ARM processor business from MACOM (MTSI) (FSL) 23.68 :

Co has entered into a definitive agreement to purchase the Comcerto CPE communications processor business of Mindspeed Technologies. This business includes a series of multicore, ARM-based embedded processors and associated software, a talented team, and Tier One customers spanning the globe. As part of the agreement, key members of the business will join Freescale.
The closing of the transaction is subject to customary closing conditions and is expected to close in Q2, 2014. Terms of the deal were not disclosed.

8:01AM GT Advanced Tech announces $58.6 mln Specialty Furnace orders this Q (GTAT) 16.90 : Co announces that it has received $58.6 mln in orders this quarter for high temperature refractory metal furnaces that are used for a variety of industrial purposes. These orders will be reflected in Q2 reportable backlog and GT expects to recognize revenue from these orders during the second half of 2014.

NVIDIA (NVDA) announced its GPUs are powering the upcoming releases and new GPU-accelerated features of Adobe Creative Cloud video applications, such as Adobe Premiere Pro CC, Adobe After Effects CC, SpeedGrade CC, Adobe Media Encoder, and Adobe Anywhere

MagnaChip (MX) announced that, as expected, on April 2, 2014, the co received a letter from the New York Stock Exchange indicating that the co is not in compliance with the NYSE's continued listing requirements under the timely filing criteria outlined in Section 802.01E of the NYSE Listed Company Manual as a result of its failure to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2013. The NYSE has informed the Company that, under the NYSE rules, the Company will have six months (until October 1, 2014) to file its 2013 Annual Report on Form 10-K with the SEC. The Company and its advisors are working diligently to complete the previously announced internal review and restatement. While substantial progress has been made, it is expected that this review and work with regard to the previously announced restatement will take several more months, and the Company is currently unable to estimate when it will be in a position to file its 2013 Annual Report on Form 10-K.