Mid-Afternoon Market Update: Crude Oil Declines 6%; Bluebird Bio Shares Tumble

Toward the end of trading Monday, the Dow traded down 0.78 percent to 17,707.80 while the NASDAQ dipped 0.86 percent to 5,097.83. The S&P also fell, dropping 0.85 percent to 2,073.85. Leading and Lagging Sectors In trading on Monday, non-cyclical consumer goods & services shares rose by 0.01 percent. Meanwhile, top gainers in the sector included Keurig Green Mountain Inc GMCR, up 73 percent, and Sodastream International Ltd SODA, up 9 percent. Energy shares tumbled by 4.58 percent in the US market on Monday. Top losers in the sector included Vanguard Natural Resources, LLC VNR, Energy Transfer Equity LP ETE, and Legacy Reserves LP LGCY. Top Headline Keurig Green Mountain Inc 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 GMCR shares shot up 72 percent to $89.17 after the company agreed to be acquired for $13.9 billion. Shares of XBiotech Inc XBIT got a boost, shooting up 74 percent to $14.99 after the company reported positive results in its European Phase III study for its breakthrough therapy for colorectal cancer. Sodastream International Ltd SODA shares were also up, gaining 9 percent to $15.32 on Keurig Green Mountain go-private deal for $92 per share. Equities Trading DOWN bluebird bio Inc BLUE shares tumbled 37 percent to $53.04 on mixed sickle cell data results presented at the ASH 2015. Morgan Stanley's Matthew Harrison downgraded the rating on bluebird bio from Overweight to Equal-weight, while reducing the price target from $143 to $69. Roth Capital downgraded bluebird bio from Buy to Neutral and lowered the price target from $121.00 to $62.00. Bank of America downgraded bluebird bio from Buy to Neutral. Shares of Global Blood Therapeutics Inc GBT were down 18 percent to $37.49 after the company reported positive GBT440 Phase 1/2 data. Threshold Pharmaceuticals, Inc. THLD was down, falling 81 percent to $0.620 after the company reported that its evofosfamide studies did not meet primary endpoints. Commodities In commodity news, oil traded down 6.05 percent to $37.55, while gold traded down 0.91 percent to $1,074.20. Silver traded down 1.36 percent Monday to $14.33, while copper fell 1.47 percent to $2.05. Eurozone European shares closed 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. Economics There were no major US economic releases Monday.