Mid-Day Market Update: US Stocks Turn Lower; Affymetrix Shares Surge On Acquisition News

Midway through trading Monday, the Dow traded down 0.20 percent to 16,313.24 while the NASDAQ dipped 0.63 percent to 4,614.51. The S&P also fell, dropping 0.41 percent to 1,914.18.

On Monday, cyclical consumer goods & services shares gained by 0.30 percent. Meanwhile, top gainers in the sector included

, up 18 percent, and

, up 4 percent. In trading on Monday, energy shares tumbled by 1.46 percent. Meanwhile, top losers in the sector included

, down 11 percent, and

, down 11 percent.

agreed to be acquired by Shire PLC (ADR)

for $32 billion.

shares shot up 119 percent to $8.78 after the company reported a share repurchase program of $2 million. Shares of

got a boost, shooting up 49 percent to $13.72 as

agreed to acquire Affymetrix for $1.3 billion in cash.

shares were also up, gaining 7 percent to $4.92 after the company reported positive dose-response data for ANAVEX 2-73 in Alzheimer's disease patients.

shares dropped 11 percent to $22.82 after the company reported weak preliminary fourth quarter and full-year 2015 results. Shares of

were down 15 percent to $2.92 after the company reported the signing of a term loan facility for up to $75.7 million with the Export-Import Bank of China.

was down, falling around 14 percent to $6.90 after the company issued a weak sales forecast.

In commodity news, oil traded down 3.02 percent to $32.16, while gold traded up 0.03 percent to $1,098.20. Silver traded up 0.34 percent Monday to $13.97, while copper fell 2.52 percent to $1.97.

European shares were higher today. The eurozone's STOXX 600 gained 0.30 percent, the Spanish Ibex Index rose 0.49 percent, while Italy's FTSE MIB Index rose 0.37 percent. Meanwhile, the German DAX gained 0.58 percent, and the French CAC 40 climbed 0.34 percent, while U.K. shares fell 0.14 percent.

On the economics calendar Monday, there is no important data due out.