Mid-Afternoon Market Update: Dow Jumps 200 Points; Aduro Biotech Shares Drop Following Announcement of Failed Phase 2b ECLIPSE Trial

Toward the end of trading Monday, the Dow traded up 1.15 percent to 17,737.52 while the NASDAQ surged 1.35 percent to 4,781.34. The S&P also rose, gaining 1.12 percent to 2,069.45.

Energy shares surged around 1.85 percent in trading on Monday. Top gainers in the sector included

,

, and

. In trading on Monday, utilities shares rose by just 0.1 percent. Meanwhile, top losers in the sector included

, down 3.5 percent, and

, down 5 percent.

announced plans to buy

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.

shares shot up 73 percent to $2.98 after John McAfee proposed to become Executive Chairman and CEO. Shares of

got a boost, shooting up 55 percent to $99.49 after the company agreed to be acquired by

for $99.25 per share.

shares were also up, gaining 68 percent to $1.31 after the company agreed to be acquired by

for $1.35 per share.

shares dropped 19 percent to $8.69 after the company reported that its Phase 2b ECLIPSE trial has missed primary endpoint. Shares of

were down 36 percent to $1.61. Versar reported a Q3 loss of $1.34 per share on revenue of $36.5 million.

was down, falling around 70 percent to $0.0580 as the company filed for Chapter 11 bankruptcy protection.

In commodity news, oil traded up 2.83 percent to $47.52 while gold traded up 0.20 percent to $1,275.20. Silver traded up 0.25 percent Monday to $17.18, while copper rose 0.70 percent to $2.09.

European shares closed mixed today. The eurozone's STOXX 600 rose 0.01 percent, the Spanish Ibex Index fell 0.45 percent, while Italy's FTSE MIB Index gained 0.04 percent. The French CAC 40 declined 0.18 percent while U.K. shares rose 0.21 percent.

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.