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Shire plc SHPG announced its plans to buy ViroPharma VPHM for $4.2 billion.
Equities Trading UP
ViroPharma VPHM shot up 25.46 percent to $49.40 after the company agreed to be acquired by Shire SHPG for $50 per share.
Arena Pharmaceuticals ARNA was also up, gaining 10.65 percent to $5.30 after Jefferies reiterated its Buy rating and $12 price target on the company Monday morning.
Equities Trading DOWNShares of Tata Motors TTM were down 5.17 percent to $29.18 after Nomura downgraded the stock from Buy to Neutral.
Denbury Resources DNR was also down, falling 5.89 percent to $18.21 after a proposal for the company to become an MLP was rejected.
8x8 EGHT was down, falling 6.95 percent to $9.91 after the company announced a public offering of 12,500,000 shares of its common stock. The company also announced its plans to acquire e UK-based Voicenet Solutions for $18.4 million in cash.Commodities
In commodity news, oil traded up 0.56 percent to $95.13, while gold traded down 0.13 percent to $1,282.80.
Eurozone
European shares were higher today. The Spanish Ibex Index gained 0.44 percent, while Italy's FTSE MIB Index rose 0.77 percent. Meanwhile, the German DAX gained 0.42 percent and the French CAC 40 surged 0.70 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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