Midway through trading Monday, the Dow traded down 1.55 percent to 25,587.41 while the NASDAQ declined 2.14 percent to 7,248.71. The S&P also fell, dropping 1.32 percent to 2,744.24.
Leading and Lagging Sectors
On Monday, the utilities shares climbed 0.7 percent. Meanwhile, top gainers in the sector included Huaneng Power International Inc HNP up 4 percent, and FirstEnergy Corp. FE up 3 percent.
In trading on Monday, information technology shares fell 3.4 percent.
Top Headline
athenahealth, Inc ATHN gained 9.5 percent to $131.83 after the company agreed to be acquired by Veritas Capital and hedge fund Elliott Management for $5.7 billion, or $135 per share in cash.
Equities Trading UP
Apptio Inc APTI shares shot up 51 percent to $37.615 after the company agreed to be acquired by private equity firm Vista Equity Partners for around $1.94 billion.
Shares of athenahealth, Inc. ATHN got a boost, shooting up 10 percent to $132.02 after the company agreed to be acquired by Veritas Capital for $135 per share in cash.
OPKO Health, Inc. OPK shares were also up, gaining 22 percent to $3.78 after the company reported upbeat earnings for its third quarter.
Equities Trading DOWN
Lumentum Holdings Inc LITE shares dropped 32 percent to $38.060 after the company cut Q2 guidance.
Shares of GNC Holdings, Inc. GNC were down 21 percent to $3.35 after the company reported downbeat earnings for its third quarter on Friday.
Infinity Pharmaceuticals Inc. INFI was down, falling around 37 percent to $1.5204. JP Morgan downgraded Infinity Pharmaceuticals INFI from Neutral to Underweight, while Wells Fargo downgraded the stock from Outperform to Market Perform.
Commodities
In commodity news, oil traded up 1.25 percent to $60.94 while gold traded down 0.33 percent to $1,204.60.
Silver traded down 0.85 percent Monday to $14.02, while copper fell 0.04 percent to $2.6835.
Eurozone
European shares were lower today. The eurozone’s STOXX 600 declined 1.01 percent, the Spanish Ibex Index fell 0.64 percent, while Italy’s FTSE MIB Index dropped 1.05 percent. Meanwhile the German DAX fell 1.77 percent, and the French CAC 40 fell 0.93 percent while U.K. shares fell 0.74 percent.
Economics
San Francisco Federal Reserve Bank President Mary Daly is set to speak in Idaho Falls, Idaho at 2:30 p.m. ET.
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