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Mid-Day Market Update: Dow Surges Over 100 Points; Oncomed Shares Slide

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40 Stocks Moving In Tuesday's Pre-Market Session

Midway through trading Monday, the Dow traded up 0.57 percent to 20,570.30 while the NASDAQ rose 0.62 percent to 5,841.01. The S&P also rose, gaining 0.55 percent to 2,341.73.

Leading and Lagging Sectors

On Monday, the non-cyclical consumer goods & services sector proved to be a source of strength for the market.

In trading on Monday, healthcare shares rose by just 0.2 percent. Meanwhile, top losers in the sector included Incyte Corporation (NASDAQ: INCY), down 11 percent, and Tenet Healthcare Corp (NYSE: THC), down 8 percent.

Top Headline

China's Ant Financial raised its bid for Moneygram International Inc (NASDAQ: MGI) by 36 percent to $18 per share in cash.

The offer surpassed a bid from Euronet for $15.20 per share.

Equities Trading UP

Cleveland BioLabs, Inc. (NASDAQ: CBLI) shares shot up 78 percent to $2.78. Cleveland BioLabs reported the start of in vivo biocomparability study and announced the European Medicines Agency positive opinion regarding the entolimod pediatric investigation plan.

Shares of MOCON, Inc. (NASDAQ: MOCO) got a boost, shooting up 37 percent to $29.77 after AMETEK, Inc. (NYSE: AME) announced plans to buy MOCON at $30 per share in cash.

Westport Fuel Systems Inc (USA) (NASDAQ: WPRT) shares were also up, gaining 20 percent to $1.27 after the company reported the signing of a definitive agreement to sell its APU assets for $70 million.

Equities Trading DOWN

Vince Holding Corp (NYSE: VNCE) shares dropped 21 percent to $1.02. Vince reported a delay in fiscal 2016 10-K filing.

Shares of Skyline Corporation (NYSE: SKY) were down around 23 percent to $6.52. Skyline posted a Q3 net loss of $2,447,000, or $0.29 per share, versus year-ago net loss of $520,000 or $0.06 per share.

Oncomed Pharmaceuticals Inc (NASDAQ: OMED) was down, falling around 20 percent to $3.89 as the company disclosed that its Phase 2 trial of tarextumab did not meet endpoints. OncoMed also reported that it will discontinue enrollment in Phase 1B clinical trial of brontictuzumab. Piper Jaffray downgraded OncoMed from Overweight to Neutral.


In commodity news, oil traded down 0.21 percent to $53.07 while gold traded up 0.27 percent to $1,292.00.

Silver traded up 0.08 percent Monday to $18.525, while copper rose 0.62 percent to $2.5865.




The Empire State manufacturing index declined to 5.20 in April, versus a prior reading of 16.40. Economists were expecting a reading of 15.00.

The NAHB housing market index dropped 3 points to a reading of 68 in April.

The Treasury International Capital data for February is schedule for release at 4:00 p.m. ET.

Federal Reserve Vice Chairman Stanley Fischer is set to speak in New York City at 5:00 p.m. ET.

Posted-In: News Eurozone Commodities M&A Global Intraday Update Markets Movers


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