Mid-Day Market Update: Smith & Wesson Rises Following Orlando Shootings on Sunday; BioScrip Shares Slide

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Midway through trading Monday, the Dow traded down 0.08 percent to 17,850.62 while the NASDAQ declined 0.33 percent to 4,878.63. The S&P also fell, dropping 0.14 percent to 2,093.09.
Leading and Lagging Sectors
On Monday, energy shares rose by 0.14 percent. Top gainers in the sector included
Pacific Drilling SAPACD
and
W&T Offshore, Inc.WTI
. In trading on Monday, telecommunications services shares tumbled by 0.72 percent. Meanwhile, top losers in the sector included
Cellcom Israel Ltd.CEL
, down 11 percent, and
B Communications LtdBCOM
, down 5 percent.
Top HeadlineMicrosoft CorporationMSFT
announced Monday morning it has reached an agreement to acquire
LinkedIn Corp
for $196 per share, or $26.2 billion, inclusive of LinkedIn's net cash. As part of the agreement, Jeff Weiner will remain CEO of LinkedIn and will report directly to Microsoft's CEO Satya Nadella. The transaction has already been unanimously approved by the Board of Directors of both companies and is expected to close by the end of 2016.
Equities Trading UP Eleven Biotherapeutics Inc
EBIO
shares shot up 46 percent to $2.72 after the company reported announced the signing of exclusive license agreement with Roche covering IL-6 antagonist antibody. The company also reported that that it has submitted an Investigational New Drug application to the FDA to initiate a Phase 1 clinical trial of EBI-031 for ocular diseases. Shares of
LinkedIn CorpLNKD
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got a boost, shooting up 47 percent to $192.67 after Microsoft announced plans to acquire LinkedIn for $196 per share.
Smith & Wesson Holding Corp SWHC
shares were also up, gaining 8 percent to $23.14 following Orlando shootings on Sunday. Gun stocks, including Smith & Wesson, rose as the shooting could result in a surge of gun sales to individuals looking to protect themselves.
Equities Trading DOWN Marinus Pharmaceuticals IncMRNS
shares dropped 69 percent to $1.67 as the company reported top-line results from Phase 3 trial in adult focal onset seizures. In this trial, ganaxolone did not meet the primary endpoint. Shares of
BioScrip IncBIOS
were down 10 percent to $6.84 as the company said it struck a deal to acquire HS Infusion Holdings Inc. in a synergistic, transformational and accretive transactions with considerable gains for all stake holders. The company also announced a proposed stock offering for HS Infusion acquisition.
OraSure Technologies, Inc.OSUR
was down, falling around 12 percent to $6.84. Raymond James downgraded OraSure Technologies from Outperform to Market Perform.
Commodities
In commodity news, oil traded up 0.08 percent to $49.11 while gold traded up 0.70 percent to $1,284.80. Silver traded up 0.43 percent Monday to $17.41, while copper rose 1.31 percent to $2.06.
Eurozone
European shares were lower today. The eurozone's STOXX 600 fell 1.46 percent, the Spanish Ibex Index dropped 1.62 percent, while Italy's FTSE MIB Index slipped 2.44 percent. Meanwhile the German DAX declined 1.30 percent, and the French CAC 40 fell 1.39 percent, while U.K. shares fell 0.74 percent.
Economics
The Treasury is set to auction 3-and 6-month bills.
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Posted In: NewsEurozoneCommoditiesM&AGlobalIntraday UpdateMarketsMoversMid-Day Market Update
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