Mid-Day Market Update: Crude Oil Surges 5%; Staffing 360 Solutions Shares Plunge

Midway through trading Monday, the Dow traded up 0.77% to 35,391.72 while the NASDAQ rose 1.35% to 14,912.95. The S&P also rose, gaining 0.95% to 4,484.08.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 37,711,150 cases with around 628,500 deaths. India confirmed a total of at least 32,449,300 cases and 434,750 deaths, while Brazil reported over 20,570,890 COVID-19 cases with 574,520 deaths. In total, there were at least 211,921,920 cases of COVID-19 worldwide with more than 4,433,550 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Energy shares rose 3.7% on Monday. Meanwhile, top gainers in the sector included Bristow Group Inc. VTOL, up 14% and Peabody Energy Corporation BTU up 10%.

In trading on Monday, utilities fell 1.1%.

Top Headline

Pfizer Inc PFE agreed to acquire Trillium Therapeutics Inc TRIL for $18.50 per share, equivalent to an implied equity value of $2.26 billion.

The offer price represents a 118% premium to the 60-day weighted average price for Trillium.

Equities Trading UP

Trillium Therapeutics Inc. TRIL shares shot up 188% to $17.54 after the company announced it will be acquired by Pfizer for $18.50 per share, implying an equity value of $2.26 billion.

Shares of Vivos Therapeutics, Inc. VVOS got a boost, shooting 45% to $5.57. The FDA granted 510(k) clearance to Vivos Therapeutics’ mmRNA (modified mandibular Repositioning Nighttime Appliance) obstructive sleep apnea (OSA) device.

City Office REIT, Inc. CIO shares were also up, gaining 25% to $16.08 after the company announced the sale of its Life Science assets for $576 million. RBC Capital maintained City Office REIT with an Outperform and raised the price target from $16 to $19.

Check out these big movers of the day

Equities Trading DOWN

Staffing 360 Solutions, Inc. STAF shares tumbled 16% to $1.7150 after the company announced a 1.36 million share stock offering priced at $2.10 per share.

Shares of Regencell Bioscience Holdings Limited RGC were down 24% to $14.60 after jumping over 200% on Friday. Regencell Bioscience reported partial exercise of underwriter’s over-allotment option.

Youdao, Inc. DAO was down, falling 12% to $8.88. Youdao is expected to report Q2 results on August 31, 2021.


In commodity news, oil traded up 5.2% to $65.37, while gold traded up 1.2% to $1,804.60.

Silver traded up 2.2% Monday to $23.61 while copper rose 2.1% to $4.2250.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 gained 0.7%, the Spanish Ibex Index gained 0.65% and the German DAX 30 gained 0.32%. Meanwhile, the London’s FTSE 100 gained 0.4%, French CAC 40 rose 1.04% and Italy’s FTSE MIB climbed 0.49%.

The IHS Markit Eurozone services PMI declined slightly to 59.7 in August from 59.8 in the previous month, while manufacturing PMI dropped to 61.5 from 62.8. German composite PMI fell to 60.6 in August from 62.4 in July, while French composite PMI dropped to 55.9 in August from 56.6.

UK’s services PMI fell to 55.5 in August from 59.6 a month ago, while manufacturing PMI slipped to 60.1 from 60.4.


The Chicago Fed National Activity Index rose to 0.53 in July from a revised reading of -0.01 in June.

The IHS Markit services PMI dipped to 55.2 in August, while manufacturing index declined to 61.20.

US existing home sales rose 2% to an annual rate of 5.99 million in July.

Check out the full economic calendar here

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