Market Overview

Mid-Afternoon Market Update: Dow Falls 90 Points; XBiotech Shares Spike Higher


Toward the end of trading Monday, the Dow traded down 0.30% to 27925 while the NASDAQ fell 0.28% to 8,632.30. The S&P also fell, dropping 0.23% to 3,138.54.

Leading and Lagging Sectors

Consumer staples shares climbed 0.2% on Monday. Meanwhile, top gainers in the sector included Celsius Holdings, Inc. (NASDAQ: CELH), up 4%, and Natural Grocers by Vitamin Cottage Inc (NYSE: NGVC), up 4%.

In trading on Monday, health care shares fell 0.6%.

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 171% to $67.74 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 $19.68 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 72% to $19.08 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 33% to $3.9150 after the company received a $4 per share acquisition offer from United Health's OptumRx.

Shares of Precision BioSciences, Inc. (NASDAQ: DTIL) were down 50% to $9.79 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 48% to $0.2815 after the company priced 24.6 million unit offering at $0.405 per unit.


In commodity news, oil traded down 0.1% to $59.18, while gold traded up 0.1% to $1,465.50.

Silver traded up 0.4% Monday to $16.655, while copper rose 1.2% to $2.758.

Euro zone

European shares closed lower today. The eurozone’s STOXX 600 dropped 0.24%, the Spanish Ibex Index fell 0.30%, while Italy’s FTSE MIB Index fell 0.97%. Meanwhile, the German DAX dropped 0.46%, and the French CAC 40 fell 0.59% while UK shares fell 0.08%.


On the economics calendar Monday, there is no important data due out.


Related Articles (ARQL + BIOC)

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