Market Overview

Mid-Day Market Update: VipShop Jumps Following Announcement of Investment By, Tencent; Northern Dynasty Shares Slide


Midway through trading Monday, the Dow traded up 0.68 percent to 24,820.06 while the NASDAQ climbed 0.79 percent to 6,991.18. The S&P also rose, gaining 0.61 percent to 2,692.06.

Leading and Lagging Sectors

On Monday, the materials sector proved to be a source of strength for the market. Leading the sector was strength from Mountain Province Diamonds, Inc. (NASDAQ: MPVD) and Sociedad Quimica y Minera de Chile (ADR) (NYSE: SQM).

In trading on Monday, utilities shares fell 0.70 percent.

Top Headline

Hershey Co (NYSE: HSY) announced plans to acquire Amplify Snack Brands Inc (NYSE: BETR) in a transaction valued at $1.6 billion.

Hershey will pay $12 per share for Amplify, representing a 71.4 percent premium over the stock's closing price on Friday. The deal is projected to close next quarter.

Equities Trading UP

Longfin Corp (NASDAQ: LFIN) shares shot up 78 percent to $39.17. Longfin shares surged 308.41 percent Friday after the company announced agreement to acquire

Shares of Vipshop Holdings Ltd - ADR (NYSE: VIPS) got a boost, shooting up 45 percent to $12.26 following announcement of $863 million investment by and Tencent. Daiwa Capital upgraded Vipshop from Hold to Buy.

On Track Innovations Ltd (NASDAQ: OTIV) shares were also up, gaining 76 percent to $1.82. On Track Innovations announced Monday that it's "developing capabilities to implement the use of bitcoins in its cashless payment solutions.

Equities Trading DOWN

Applied DNA Sciences Inc (NASDAQ: APDN) shares dropped 13 percent to $2.23. Applied DNA Sciences and Colorcon announced a collaboration to commercialize product authentication technology for pharmaceutical and nutraceutical industry.

Shares of Aratana Therapeutics Inc (NASDAQ: PETX) were down 8 percent to $5.26 after the company issued study results for AT-016. The company’s license partner responsible for development said study did not achieve protocol-defined efficacy success criteria.

Northern Dynasty Minerals Ltd (NYSE: NAK) was down, falling around 10 percent to $1.96 following announcement of a framework agreement with First Quantum Minerals.


In commodity news, oil traded up 0.45 percent to $57.56 while gold traded up 0.57 percent to $1,264.70.

Silver traded up 0.76 percent Monday to $16.185, while copper rose 0.03 percent to $3.1355.


European shares were higher today. The eurozone’s STOXX 600 jumped 1.05 percent, the Spanish Ibex Index rose 0.95 percent, while Italy’s FTSE MIB Index surged 1.18 percent. Meanwhile the German DAX gained 1.57 percent, and the French CAC 40 climbed 1.32 percent while U.K. shares rose 0.46 percent.


The NAHB housing market index climbed 5 points to a reading of 74 for December. However, economists were expecting a reading of 70 for December.

Posted-In: Mid-Day Market UpdateNews Eurozone Commodities Global Intraday Update Markets


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