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Midway through trading Monday, the Dow traded down 0.11% to 27984.55 while the NASDAQ rose 0.13% to 8667.46. The S&P also rose, gaining 0.05% to 3,147.43.
Leading and Lagging Sectors
Communication services shares climbed 0.4% on Monday. Meanwhile, top gainers in the sector included Livexlive Media Inc (NASDAQ:LIVX), up 14%, and COMSCORE, Inc. (NASDAQ:SCOR), up 13%.
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In trading on Monday, health care shares fell 0.2%.
Top Headline
Merck & Co., Inc. (NYSE:MRK) will acquire ArQule, Inc. (NASDAQ:ARQL) for $20 per share in cash for an approximate total equity value of $2.7 billion.
ArQule is a biopharmaceutical company focused on kinase inhibitor discovery and development for the treatment of patients with cancer and other diseases.
Equities Trading UP
Synthorx, Inc. (NASDAQ:THOR) shares shot up 169% to $67.40 after the company announced it would be acquired by Sanofi for $68 per share in cash.
Shares of ArQule, Inc. (NASDAQ:ARQL) got a boost, shooting up 104% to $19.67 after the company announced it would be acquired by Merck for $20 per share in cash.
XBiotech Inc. (NASDAQ:XBIT) shares were also up, gaining 83% to $20.35 after the company announced it would license its anti-inflammatory antibody to Janssen for $750 million in cash and up to $600 million in milestone payments.
Equities Trading DOWN
Diplomat Pharmacy, Inc. (NYSE:DPLO) shares tumbled 32% to $3.9550 after the company received a $4 per share acquisition offer from United Health's OptumRx.
Shares of Precision BioSciences, Inc. (NASDAQ:DTIL) were down 49% to $10.11 after the company reported updated interim clinical data from the ongoing Phase 1 trial of its lead investigational off-the-shelf (allogeneic) chimeric antigen receptor (CAR) T cell therapy candidate, PBCAR019.
Biocept, Inc. (NASDAQ:BIOC) was down, falling 49% to $0.2768 after the company priced 24.6 million unit offering at $0.405 per unit.
Commodities
In commodity news, oil traded down 0.2% to $59.06, while gold traded up 0.1% to $1,466.40.
Silver traded up 0.3% Monday to $16.645, while copper rose 1% to $2.753.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 dropped 0.11%, the Spanish Ibex Index fell 0.11%, while Italy’s FTSE MIB Index fell 1.02%. Meanwhile, the German DAX dropped 0.22%, and the French CAC 40 fell 0.4% while UK shares rose 0.05%.
Economics
The TD Ameritrade Investor Movement Index for November is schedule for release at 12:30 p.m. ET.
The Treasury will auction 3-year notes at 1:00 p.m. ET.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.