Mid-Day Market Update: TeleCommunication Systems Surges On Acquisition News; ProQR Therapeutics Shares Slide

Midway through trading Monday, the Dow traded up 0.05 percent to 17,832.77 while the NASDAQ climbed 0.29 percent to 5,119.89. The S&P also rose, gaining 0.22 percent to 2,093.72.

In trading on Monday, non-cyclical consumer goods & services shares were relative leaders, up on the day by about 0.72 percent. Meanwhile, top gainers in the sector included

, up 9 percent, and

, up 7 percent. Telecommunications services sector was the top loser in the US market on Monday. Top losers in the sector included

,

, and

.

agreed to buy

in a $160 billion deal. The transaction is valued at $363.63 per Allergan share, based on the closing price of Pfizer stock of $32.18 on November 20.

shares shot up 12 percent to $4.93 after

announced plans to acquire TeleCommunication Systems for $430.8 million. Shares of

got a boost, shooting up 8 percent to $65.85 after the company reported better-than-expected results for its fiscal fourth quarter on Monday.

shares were also up, gaining 8 percent to $12.18 after the company agreed to divest coal assets in New Mexico and Colorado for $358 million.

shares tumbled 25 percent to $9.77. ProQR Therapeutics reported a Q3 loss of $0.29 per share and issued an update on clinical trials. Shares of

were down 15 percent to $23.63 after the company reported a $74.8 million registered direct offering.

was down, falling 9 percent to $35.86 after the company reported weaker-than-expected results for the third quarter.

In commodity news, oil traded up 0.62 percent to $42.16, while gold traded down 0.68 percent to $1,069.00. Silver traded down 0.33 percent Monday to $14.08, while copper fell 1.97 percent to $2.02.

European shares were mostly lower today. The eurozone's STOXX 600 declined 0.23 percent, the Spanish Ibex Index rose 0.02 percent, while Italy's FTSE MIB Index rose 0.91 percent. Meanwhile, the German DAX slipped 0.07 percent, and the French CAC 40 slipped 0.25 percent, while U.K. shares fell 0.27 percent.

The Markit manufacturing PMI declined to 52.60 in November, versus a prior reading of 54.10. However, economists were expecting a reading of 53.90. Sales of existing homes in the U.S. dropped 3.4 percent to an annual rate of 5.36 million in October. However, economists were projecting a decline of 2 percent.