Toward the end of trading Monday, the Dow traded down 0.72% to 28446.24 while the NASDAQ rose 1% to 11,812.92. The S&P also rose, gaining 0.01% to 3,508.25.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 5,997,620 cases with around 183,060 deaths. Brazil confirmed a total of over 3,862,310 COVID-19 cases with 120,820 deaths, while India reported a total of at least 3,621,240 confirmed cases and 64,460 deaths. In total, there were at least 25,248,590 cases of COVID-19 worldwide with over 846,870 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Information technology shares gained 0.7% on Monday. Meanwhile, top gainers in the sector included Atomera Incorporated ATOM, up 20%, and Materialise NV MTLS, up 15%.
In trading on Monday, energy shares fell by 1.9%.
Nestle S.A. NSRGY subsidiary Nestle Health Sciences (NHSc) agreed to acquire biopharma companyAimmune Therapeutics, Inc. AIMT.
NHSc will purchase the stake in Aimmune through its 100% subsidiary Société des Produits Nestlé S.A. (SPN) at an enterprise value of $2.6 billion. All shares which are currently not owned by Nestle will be acquired at $34.50 per share through a cash tender offer.
Equities Trading UP
Aimmune Therapeutics, Inc. AIMT shares shot up 171% to $34.18 after Nestle SA agreed to acquire the company at an enterprise value of $2.6 billion.
Shares of Akcea Therapeutics, Inc. AKCA got a boost, shooting 60% to $18.18. Akcea and its majority owner Ionis Pharmaceuticals announced a definitive agreement under which Ionis will acquire the 24% stake in Akcea it does not already own for $18.15 per share — about 60% higher than Akcea's Friday closing price.
Genworth Financial, Inc. GNW shares were also up, gaining 32% to $3.1350 following a media report that a potential buyer has financing.
Equities Trading DOWN
Shiloh Industries, Inc. SHLO shares tumbled 63% to $0.4020 after the company entered into stock and asset purchase agreement with Grouper Holdings, LLC, a Subsidiary of MiddleGround Capital LLC. The company filed voluntary Chapter 11 petitions to facilitate the transaction.
Shares of Acasti Pharma Inc. ACST were down 65% to $0.2470 after the company announced the results from its Phase 3 TRILOGY 2 study of CaPre did not achieve statistical significance for the primary endpoint.
Regis Corporation RGS was down, falling 17% to $7.52 after reporting a loss for the fourth quarter.
In commodity news, oil traded down 0.3% to $42.85, while gold traded up 0.2% to $1,979.60.
Silver traded up 3.6% Monday to $28.615, while copper rose 1.3% to $3.0585.
European shares closed lower today. The eurozone’s STOXX 600 fell 0.62%, the Spanish Ibex Index fell 2.29%, while Italy’s FTSE MIB Index declined 1.04%. Meanwhile, the German DAX 30 slipped 0.67% and French CAC 40 fell 1.11%
The Dallas Fed manufacturing business index increased to 8.00 in August, versus a prior reading of -3.00.
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