Mid-Morning Market Update: Markets Open Lower; Apollo Global Management To Acquire Fresh Market For $28.50/Share

Following the market opening Monday, the Dow traded down 0.22 percent to 17,175.92 while the NASDAQ declined 0.20 percent to 4,738.90. The S&P also fell, dropping 0.38 percent to 2,014.52.

On Monday, cyclical consumer goods & services shares gained by 0.06 percent. Top gainers in the sector included

,

, and

. In trading on Monday, energy shares dipped by 1.50 percent. Meanwhile, top losers in the sector included

, down 17 percent, and

, down 12 percent.

agreed be acquired by

for $28.50 per share in cash. In an approximately $1.4 billion in cash buyout, shareholders are set to receive $28.50 per share. This calculates to an approximately 53 percent premium over the February 10 closing price and an approximately 24 percent premium over last Friday's closing price.

shares shot up 122 percent to $85.50 after the company reported positive epidiolex results. Shares of

got a boost, shooting up 56 percent to $13.14. Zynerba reported a Q4 loss of $0.62 per share on revenue of $49,000.

shares were also up, gaining 24 percent to $28.42 after the company agreed be acquired by

for $28.50 per share in cash.

shares dropped 22 percent to $3.64 after the company issued an update on the FL Mobile divestment. NQ Mobile is expected to report Q4 financial results on March 21, 2016. Shares of

were down 20 percent to $2.93. Harte Hanks entered into a new $110 million credit facility over 5 years.

was down, falling around 17 percent to $7.89. TravelCenters of America reported a Q4 loss of $0.04 per share on revenue of $1.35 billion.

In commodity news, oil traded down 2.91 percent to $37.38, while gold traded down 0.03 percent to $1,259.00. Silver traded up 0.80 percent Friday to $15.73, while copper rose 0.45 percent to $2.25.

European shares were mostly higher today. The eurozone's STOXX 600 rose 0.56 percent, the Spanish Ibex Index rose 0.78 percent, while Italy's FTSE MIB Index fell 0.16 percent. Meanwhile, the German DAX climbed 1.35 percent, and the French CAC 40 surged 0.35 percent, while U.K. shares rose 0.27 percent.

There were no major US economic releases Monday.