Mid-Day Market Update: Nanosphere Jumps Following Luminex Deal; Breitburn Energy Partners Shares Drop

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Midway through trading Monday, the Dow traded up 0.64 percent to 17,647.80 while the NASDAQ surged 0.81 percent to 4,756.09. The S&P also rose, gaining 0.63 percent to 2,059.54.
Leading and Lagging Sectors
Basic materials shares rose around 2.02 percent in trading on Monday. Top gainers in the sector included
Bill Barrett CorporationBBG
,
Newpark Resources IncNR
, and
Approach Resources Inc.AREX
. In trading on Monday, utilities shares slipped by 0.1 percent. Meanwhile, top losers in the sector included
Companhia Paranaense de Energia (ADR)ELP
, down 3 percent, and
TransAlta Corporation (USA)TAC
, down 2 percent.
Top Headline Pfizer Inc. PFE
announced plans to buy
Anacor Pharmaceuticals IncANAC
for $99.25 per share in cash. The total transaction value, net of cash, is estimated to be approximately $5.2 billion, which assumes the conversion of Anacor's outstanding convertible notes.
Equities Trading UP Tribune Publishing CoTPUB
shares shot up 22 percent to $14.00 as
Gannett Co Inc
GCI
increased its offer to buy Tribune Publishing to $15 per share from $12.25 per share. Shares of
Anacor Pharmaceuticals IncANAC
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got a boost, shooting up 55 percent to $99.04 after the company agreed to be acquired by
Pfizer Inc. PFE
for $99.25 per share.
Nanosphere, Inc.NSPH
shares were also up, gaining 68 percent to $1.31 after the company agreed to be acquired by
Luminex CorporationLMNX
for $1.35 per share.
Equities Trading DOWN Aduro BioTech IncADRO
shares dropped 25 percent to $8.04 after the company reported that its Phase 2b ECLIPSE trial has missed primary endpoint. Shares of
Versar Inc.VSR
were down 35 percent to $1.65. Versar reported a Q3 loss of $1.34 per share on revenue of $36.5 million.
Breitburn Energy Partners LPBBEP
was down, falling around 70 percent to $0.0579 as the company filed for Chapter 11 bankruptcy protection.
Commodities
In commodity news, oil traded up 2.49 percent to $47.36 while gold traded up 0.36 percent to $1,277.30. Silver traded up 0.48 percent Monday to $17.22, while copper rose 0.82 percent to $2.09.
Eurozone
European shares were mostly lower today. The eurozone's STOXX 600 dropped 0.04 percent, the Spanish Ibex Index fell 0.35 percent, while Italy's FTSE MIB Index gained 0.23 percent. The French CAC 40 declined 0.34 percent while U.K. shares rose 0.07 percent.
Economics
The Empire State general business conditions index dropped to negative 9.02 in May, compared to positive 9.56 in April. However, economists were expecting a reading of positive 6.50. The NAHB housing market index was unchanged at 58 in May. However, economists were projecting a reading of 59.
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Posted In: EarningsNewsEurozoneCommoditiesM&AGlobalIntraday UpdateMarketsMoversMid-Day Market Update
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