Mid-Day Market Update: Dow Dips 150 Points; Sodastream Shares Spike Higher
Midway through trading Monday, the Dow traded down 0.85 percent to 17,696.07 while the NASDAQ dipped 0.75 percent to 5,103.49. The S&P also fell, dropping 0.88 percent to 2,073.29.
Leading and Lagging Sectors
In trading on Monday, non-cyclical consumer goods & services shares slipped by just 0.05 percent. Meanwhile, top gainers in the sector included Keurig Green Mountain Inc (NASDAQ: GMCR), up 73 percent, and Oil-Dri Corporation of America (NYSE: ODC), up 12 percent.
Energy shares tumbled by 4.4 percent in the US market on Monday. Top losers in the sector included Vanguard Natural Resources, LLC (NASDAQ: VNR), Targa Resources Partners LP (NYSE: NGLS), and Legacy Reserves LP (NASDAQ: LGCY).
Keurig Green Mountain Inc (NASDAQ: GMCR) agreed to be acquired for $13.9 billion by an investor group led by JAB Holding Company.
The cash offer of $92.00 per share represents a 78 percent premium over Keurig's closing price on Friday.
Equities Trading UP
Keurig Green Mountain Inc (NASDAQ: GMCR) shares shot up 73 percent to $89.50 after the company agreed to be acquired for $13.9 billion.
Shares of XBiotech Inc (NASDAQ: XBIT) got a boost, shooting up 72 percent to $14.80 after the company reported positive results in its European Phase III study for its breakthrough therapy for colorectal cancer.
Equities Trading DOWN
bluebird bio Inc (NASDAQ: BLUE) shares tumbled 35 percent to $54.23 on mixed sickle cell data results presented at the ASH 2015.
Shares of Global Blood Therapeutics Inc (NASDAQ: GBT) were down 19 percent to $37.00 after the company reported positive GBT440 Phase 1/2 data.
Threshold Pharmaceuticals, Inc. (NASDAQ: THLD) was down, falling 81 percent to $0.632 after the company reported that its evofosfamide studies did not meet primary endpoints.
In commodity news, oil traded down 4.83 percent to $38.04, while gold traded down 0.78 percent to $1,075.70.
Silver traded down 1.33 percent Monday to $14.34, while copper fell 1.39 percent to $2.05.
European shares were mostly higher today. The eurozone's STOXX 600 jumped 0.51 percent, the Spanish Ibex Index fell 0.36 percent, while Italy's FTSE MIB Index gained 0.07 percent. Meanwhile, the German DAX climbed 1.25 percent, and the French CAC 40 surged 0.88 percent, while U.K. shares fell 0.24 percent.
Data on consumer credit for October will be released at 3:00 p.m. ET.
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