Mid-Day Market Update: Dow Surges Over 100 Points; Adamis Pharmaceuticals Shares Slide

Midway through trading Monday, the Dow traded up 0.65 percent to 17,922.39 while the NASDAQ climbed 0.45 percent to 4,964.57. The S&P also rose, gaining 0.50 percent to 2,109.57.

On Monday, the energy sector proved to be a source of strength for the market. Leading the sector was strength from

and

. In trading on Monday, cyclical consumer goods & services shares fell by 0.01 percent. Meanwhile, top losers in the sector included

, down 4 percent, and

, down 4 percent.

struck a definitive agreement with undisclosed parties to monetize nearly $1 billion of non-core upstream assets in east Texas, the Anadarko Basin and an overriding royalty interest in the northern Midland Basin. According to the company, these transactions were subject to customary terms and conditions and were expected to close in the third quarter of the current year. The Company sees incurring minimal taxes in connection with these transactions.

shares shot up 75 percent to $6.96 following positive VB-111 data. Shares of

got a boost, shooting up 26 percent to $4.64 after the company reported preliminary financial results for the first quarter. The company projects to report profit in the quarter.

shares were also up, gaining 45 percent to $3.50 after the company reported that it was awarded a 10-year Indefinite Quantity Airport Security Screening Services contract with the DHS Transportation Security Administration.

shares dropped 64 percent to $2.27 after the company reported interim data from Wolverine Phase 2 trial of PNT2258 in diffuse large B-cell lymphoma (DLBCL). The company discontinued the development of DLBCL. Shares of

were down 53 percent to $4.16 as the company revealed Monday it was advised by the FDA to expand its human study, as well as reliability student, i.e. product stress testing, to get its support for its NDA for Epinephrine injection. The medical regulator issued a complete response letter to it on Friday after the market closed.

was down, falling around 41 percent to $6.96 after the company announced topline results from its second Phase 3 clinical trial evaluating the safety and efficacy of its DEXTENZA therapy. The company said its single primary endpoint, defined defined as the difference in the mean scores in ocular itching between the treatment group and the placebo comparator group at three time points 7 days following insertion of the depots, was not achieved.

In commodity news, oil traded up 2.47 percent to $49.82 while gold traded up 0.49 percent to $1,249.00. Silver traded up 0.58 percent Monday to $16.46, while copper rose 0.99 percent to $2.13.

European shares were higher today. The eurozone's STOXX 600 gained 0.48 percent, the Spanish Ibex Index gained 0.55 percent, while Italy's FTSE MIB Index climbed 0.64 percent. Meanwhile the German DAX gained 0.29 percent, and the French CAC 40 rose 0.19 percent, while U.K. shares rose 1.36 percent.

U.S. CB Employment Trends Index slipped to 126.81 for May, versus a prior reading of 128.30. The Treasury is set to auction 3-and 6-month bills today.