Energy stocks were hammered and pulled benchmark indexes lower by midday Monday. Crude oil prices were sharply lower after an OPEC meeting last week failed to produce output cuts even as demand weakens. Marvell Technology (MRVL) slid after disclosing that the SEC had been in contact regarding an accounting audit. The tech company also expects to report a 5% decline in third-quarter revenue, dragged on by a 16% drop in storage sales. Keurig’s (GMCR) buyout offer had peers bouncing on hopes of increased M&A activity in the beverage sector. SodaStream (SODA), which specializes in at-home carbonated drinks, spiked, while wholesale coffee roaster Coffee Holding (JVA) jumped.
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