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Market Overview

Mid-Afternoon Market Update: Crude Oil Dips 5.5%; Anavex Shares Spike Higher

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Toward the end of trading Monday, the Dow traded down 0.19 percent to 16,315.94 while the NASDAQ dipped 0.81 percent to 4,605.97. The S&P also fell, dropping 0.55 percent to 1,911.56.

Leading and Lagging Sectors

On Monday, non-cyclical consumer goods & services shares gained by 0.25 percent. Meanwhile, top gainers in the sector included Weight Watchers International, Inc. (NYSE: WTW), up 6 percent, and Medifast Inc (NYSE: MED), up 5 percent.

In trading on Monday, energy shares tumbled by 2.46 percent. Meanwhile, top losers in the sector included Peabody Energy Corporation (NYSE: BTU), down 20 percent, and Bill Barrett Corporation (NYSE: BBG), down 17 percent.

Top Headline

Baxalta Inc (NYSE: BXLT) agreed to be acquired by Shire PLC (ADR) (NASDAQ: SHPG) for $32 billion.

Equities Trading UP

Acorn International, Inc. (ADR) (NYSE: ATV) shares shot up 85 percent to $7.60 after the company reported a share repurchase program of $2 million.

Shares of Affymetrix, Inc. (NASDAQ: AFFX) got a boost, shooting up 50 percent to $13.83 as Thermo Fisher Scientific Inc. (NYSE: TMO) agreed to acquire Affymetrix for $1.3 billion in cash.

Anavex Life Sciences Corp. (NASDAQ: AVXL) shares were also up, gaining 9 percent to $5.03 after the company reported positive dose-response data for ANAVEX 2-73 in Alzheimer's disease patients.

Equities Trading DOWN

Qiagen NV (NASDAQ: QGEN) shares dropped 11 percent to $22.83 after the company reported weak preliminary fourth quarter and full-year 2015 results.

Shares of McKesson Corporation (NYSE: MCK) were down 11 percent to $162.63. McKesson revised its FY16 earnings forecast. The company's EPS range was lowered from $12.50-$13 to $12.60-$12.90, against the consensus analysts estimate of $12.83.

EXACT Sciences Corporation (NASDAQ: EXAS) was down, falling around 13 percent to $6.94 after the company issued a weak sales forecast.

Commodities

In commodity news, oil traded down 5.52 percent to $31.33, while gold traded down 0.24 percent to $1,095.30.

Silver traded down 0.49 percent Monday to $13.85, while copper fell 2.50 percent to $1.97.

Eurozone

European shares closed lower today. The eurozone's STOXX 600 declined 0.33 percent, the Spanish Ibex Index fell 0.26 percent, while Italy's FTSE MIB Index dropped 0.57 percent. Meanwhile, the German DAX slipped 0.25 percent, and the French CAC 40 dropped 0.49 percent, while U.K. shares fell 0.69 percent.

Economics

On the economics calendar Monday, there is no important data due out.

 

Related Articles (MED + WTW)

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Posted-In: Earnings M&A News Guidance Eurozone Commodities Global Intraday Update

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