Mid-Morning Market Update: Markets Open Higher; Shire To Acquire Baxalta For $32B
Following the market opening Monday, the Dow traded up 0.24 percent to 16,385.49 while the NASDAQ gained 0.08 percent to 4,647.38. The S&P also rose, gaining 0.22 percent to 1,926.28.
Leading and Lagging Sectors
On Monday, non-cyclical consumer goods & services shares gained by 0.75 percent. Meanwhile, top gainers in the sector included LifeVantage Corp (NASDAQ: LFVN), up 7 percent, and Medifast Inc (NYSE: MED), up 8 percent.
In trading on Monday, energy shares tumbled by 0.52 percent. Meanwhile, top losers in the sector included Peabody Energy Corporation (NYSE: BTU), down 13 percent, and Bill Barrett Corporation (NYSE: BBG), down 8 percent.
Equities Trading UP
Acorn International, Inc. (ADR) (NYSE: ATV) shares shot up 86 percent to $7.62 after the company reported a share repurchase program of $2 million.
Anavex Life Sciences Corp. (NASDAQ: AVXL) shares were also up, gaining 10 percent to $5.06 after the company reported positive dose-response data for ANAVEX 2-73 in Alzheimer's disease patients.
Equities Trading DOWN
Brainstorm Cell Therapeutics Inc (NASDAQ: BCLI) shares dropped 16 percent to $2.59 after the company reported that it will begin Phase 2 multi-dose NurOWn trial at the Hadassah Medical Center with 24 patients.
Shares of Diana Shipping Inc. (NYSE: DSX) were down 13 percent to $3.00 after the company reported the signing of a term loan facility for up to $75.7 million with the Export-Import Bank of China.
EXACT Sciences Corporation (NASDAQ: EXAS) was down, falling around 12 percent to $7.01 after the company issued a weak sales forecast.
In commodity news, oil traded down 1.39 percent to $32.70, while gold traded up 0.30 percent to $1,101.20.
Silver traded up 0.66 percent Monday to $14.01, while copper fell 1.98 percent to $1.98.
European shares were higher today. The eurozone's STOXX 600 gained 0.91 percent, the Spanish Ibex Index rose 0.81 percent, while Italy's FTSE MIB Index rose 0.88 percent. Meanwhile, the German DAX gained 1.24 percent, and the French CAC 40 climbed 0.96 percent, while U.K. shares rose 0.33 percent.
On the economics calendar Monday, there is no important data due out.
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