Market Update: Monday's Mid-Day Movers; Greece Opens Banks; Gold Dwindles

Greek banks finally reopened Monday, after being shut down for nearly three weeks in order to prohibit a banking collapse. The banks still hold the same financial restrictions as the shutdown; capital controls.

According to The Wall Street Journal, the Greeks were being hit by “substantial increases in value-added tax on goods and services,” a measure passed by the Greek Parliament in a first austerity package.

Prime Minister Alexis Tsipras is disappointing his nation is accepting austerity that the Greeks have previously denounced. The Athens Stock Exchange will remain halted Monday. According to WSJ, Greek officials confirmed that Greece has made a 4.2 billion euro payment to the European Central Bank.

Hillary Clinton plans to propose a revamp of capital gains taxes, according to WSJ. This would result in higher rates for short-term investors. The revamp is guided to persuade companies to focus on longer-term growth rather than short-term.

Bidding wars are returning to the home markets, a positive sign for the housing industry. Bidding wars were a hallmark of the housing boom experienced in the last decade.

Winners

Vivint Solar Inc VSLR skyrocketed 45 percent after the company was acquired by SunEdison Inc SUNE for $2.2 billion.

Exelixis Inc EXEL soared nearly 40 percent after the announcement of its flagship cancer drug, Cometriq, showed positive progress towards the treatment of kidney cancer.

Vaalco Energy Inc EGY was up 15 percent after it reported that its Southeast Etame 2-H well was brought online at rates of ~3,400 barrels of oil per day, according to Briefing.

Lennox International Inc. LII shot up 9 percent after the climate control solutions provider topped Q2 profit forecasts; earnings of $81.2 million, $1.84 earnings per share.

SolarCity Corp SCTY was heightened 7 percent after the announcement of the Vivint/SunEdison deal.

Hasbro, Inc. HAS spiked 6 percent after entertainment company reported better-than-expected Q2 earnings.

Losers

HMS Holdings Corp HMSY dwindled 18 percent after the company confirmed a notification form the state of New Jersey stating that a contract will be awarded to a competitor instead; HMSY plans to protest the proposal.

CorMedix Inc. CRMD sunk 17 percent after the company updated its strategic transaction process. It plans to seek a CEO successor and to initiate its phase 3 study of Neutrolin.

Barrick Gold Corporation ABX was down 11 percent, following gold hitting a five-year low.