What Happened in the Stock Market Today

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Stocks were mixed on Monday, with the Dow Jones Industrial Average (DJINDICES: ^DJI) falling slightly as the S&P 500 (SNPINDEX: ^GSPC) ticked higher. Neither index moved more than 0.25% for the day.The Financial Select Sector SPDR ETF (NYSEMKT: XLF) beat the broader market with a 0.6% increase as bank stocks had a generally good day. A near-1% drop in gold prices, meanwhile, pushed the leveraged bullish bet on the precious metal, Direxion Daily Junior Gold Miners Bull 3X ETF (NYSEMKT: JNUG), down almost 8%.

As for individual stocks, BroadSoft (NASDAQ: BSFT) and Ensign Group (NASDAQ: ENSG) made big moves following quarterly earnings reports.BroadSoft lowers its outlook Shares of Cloud communications specialist BroadSoft fell more than 8% after the company reported solid fiscal first-quarter earnings while downgrading its operating outlook. Revenue rose 9% during the latest reporting period to $79.9 million, which was in the middle of the forecast that management issued in late February. Non-GAAP earnings also met expectations at $0.19 per share.

"We were pleased with our solid first quarter results," CEO Michael Tessler said in a press release. "We made meaningful progress against our 2017 strategic objectives during the quarter," Tessler added.

However, billings growth slowed to a 12% pace from nearly 20% in the prior quarter. And that shift likely played a role in management's lowered outlook for the year. In fact, Tessler and his team are seeing weaker demand in Broadcom's professional services and subscription and support offerings -- two segments that have been key to its growth lately. As a result, 2017 revenue is now expected to be between $380 million and $390 million compared to the prior forecast of $390 million to $400 million.

Executives left their earnings outlook unchanged and said they remain optimistic about BroadSoft's long-term opportunity. Yet Wall Street -- never happy to see a growth downgrade -- pushed the stock lower on Monday.

Ensign Group's pipeline of growth
Ensign Group, which runs a network of hospice and assisted living facilities, saw shares jump almost 7% after posting first-quarter results that showed improving operating metrics. Sales rose more than 15% to $441.7 million, edging past consensus estimates that were targeting $434 million. Adjusted earnings stopped at $17.9 million, translating into $0.34 per share, while Wall Street would have been happy with $0.33 per share.

Management credited accelerating revenue gains, especially in the nursing and managed care segments, for the surprising growth. "We are very encouraged by the results our skilled nursing operators achieved during the quarter," CEO Christopher Christensen said in a press release.
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