Mid-Afternoon Market Update: Chiasma Tumbles Following FDA Review; Cvent Shares Spike Higher

Toward the end of trading Monday, the Dow traded up 0.55 percent to 17,995.56 while the NASDAQ climbed 0.37 percent to 4,956.50. The S&P also rose, gaining 0.59 percent to 2,093.00.

On Monday, energy shares gained by 1.2 percent. Meanwhile, top gainers in the sector included

, up 11 percent, and

, up 7 percent. In trading on Monday, utilities shares fell by 0.02 percent. Meanwhile, top losers in the sector included

, down 3 percent, and

, down 5 percent.

reported better-than-expected earnings for the first quarter on Monday. The bank reported Q1 earnings of $0.55 per share on revenue of $7.79 billion. However, analysts were expecting earnings of $0.46 per share on revenue of $7.87 billion.

shares shot up 66 percent to $35.26 after the company agreed to be acquired by Vista Equity Partners for around $1.65 billion. Shares of

got a boost, shooting up 38 percent to $2.25 after the company reported that it has signed an exclusive 10 year Chinese silicon nitride distribution agreement.

shares were also up, gaining 5 percent to $86.64 after the company reported better-than-expected Q1 results.

shares dropped 61 percent to $3.92 after the company provided an update regarding its New Drug Application for Mycapssa capsules. Its investigational drug, Mycapssa, is intended for the maintenance therapy of adult patients with acromegaly. Shares of

were down 47 percent to $5.49 following a business update. Calumet said it expects to report a net loss between $83 million and $59 million in the first quarter of 2016, adjusted EBITDA between a ($5.0) million and $10.0 million. Calumet also announced a private placement of a $400 million principal amount of 11.5 percent senior secured notes due 2021. Finally, the company's Board of Directors voted unanimously to suspend its current quarterly cash distribution of $0.685 per unit ($2.74 per unit on an annualized basis).

was down, falling around 34 percent to $0.810. Transition Therapeutics said that its partner

will not advance TT401 into Phase 3 development.

In commodity news, oil traded down 1.04 percent to $39.94 while gold traded up 0.02 percent to $1,234.90. Silver traded down 0.45 percent Monday to $16.24, while copper rose 0.67 percent to $2.18.

European shares closed higher today. The eurozone's STOXX 600 rose 0.41 percent, the Spanish Ibex Index gained 0.35 percent, while Italy's FTSE MIB Index rose 0.55 percent. Meanwhile, the German DAX climbed 0.68 percent, and the French CAC 40 rose 0.26 percent, while U.K. shares rose 0.15 percent.

The NAHB housing market index was unchanged at 58 for April.