Market Overview

Mid-Afternoon Market Update: Nobilis Health Drops After Q4 Results; Heat Biologics Shares Spike HIgher

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Toward the end of trading Monday, the Dow traded down 0.13 percent to 20,875.63 while the NASDAQ gained 0.16 percent to 5,871.28. The S&P also fell, dropping 0.07 percent to 2,370.95.

Leading and Lagging Sectors

Basic materials shares rose 0.72 percent in trading on Monday. Meanwhile, top gainers in the sector included Valhi, Inc. (NYSE: VHI), and Kronos Worldwide, Inc. (NYSE: KRO).

In trading on Monday, industrial shares fell 0.14 percent. Meanwhile, top losers in the sector included Exfo Inc (NASDAQ: EXFO), down 8 percent, and Envirostar Inc (NYSE: EVI), down 6 percent.

Top Headline

Intel Corporation (NASDAQ: INTC) has set its foot firmly in the fast-growing market for fully autonomous vehicles by agreeing to buy Israel-based Mobileye NV (NYSE: MBLY) for about $15.3 billion.

Intel will pay $63.54 for each share of Mobileye, representing a premium of 34.4 percent over March 10 closing price. The deal has an enterprise value of $14.7 billion.

Equities Trading UP

Heat Biologics Inc (NASDAQ: HTBX) shares shot up 14 percent to $1.02 after the company disclosed that it has achieved the efficacy endpoint in its Phase 1b trial.

Shares of Mobileye NV (NYSE: MBLY) got a boost, shooting up 29 percent to $60.91 after Intel Corporation (NASDAQ: INTC) agreed to buy the company for about $15.3 billion.

AMEC Foster Wheeler plc (NYSE: AMFW) shares were also up, gaining 11 percent to $6.56 after Wood Group announced plans to acquire Amec in a $2.73 billion deal.

Equities Trading DOWN

Nobilis Health Corp (USA) (NYSE: HLTH) shares dropped 18 percent to $1.60 after the company reported downbeat results for its fourth quarter.

Shares of Aralez Pharmaceuticals Inc (NASDAQ: ARLZ) were down around 28 percent to $2.54 after the company posted a wider-than-expected quarterly loss.

Sunworks Inc (NASDAQ: SUNW) was down, falling around 11 percent to $1.51 after the company issued a weak sales forecast.

Commodities

In commodity news, oil traded down 0.35 percent to $48.86 while gold traded up 0.15 percent to $1,203.20.

Silver traded up 0.34 percent Monday to $16.98, while copper rose 1.19 percent to $2.63.

Eurozone

European shares closed mostly higher today. The eurozone’s STOXX 600 rose 0.38 percent, the Spanish Ibex Index fell 0.10 percent, while Italy’s FTSE MIB Index gained 0.25 percent. Meanwhile the German DAX rose 0.22 percent, and the French CAC 40 rose 0.13 percent while U.K. shares rose 0.33 percent.

Economics

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

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

 

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