Following the market opening Monday, the Dow traded down 0.04 percent to 21,805.94 while the NASDAQ climbed 0.22 percent to
6,279.30. The S&P also rose, gaining 0.08 percent to 2,445.03.
Leading and Lagging Sectors
Monday morning, the healthcare shares climbed by 0.40 percent. Meanwhile, top gainers in the sector included Pacific
Biosciences of California (NASDAQ: PACB), up 7 percent,
and Immunomedics, Inc. (NASDAQ: IMMU), up 9
percent.
In trading on Monday, energy shares fell 0.26 percent. Meanwhile, top losers in the sector included CGG SA (ADR) (NYSE:
CGG), down 6 percent, and Zion Oil & Gas, Inc. (NASDAQ:
ZN) down 3 percent.
Top Headline
Gilead Sciences, Inc. (NASDAQ: GILD) announced
plans
to buy Kite Pharma Inc (NASDAQ: KITE) for around
$11.9 billion in cash.
The deal provides for Gilead buying Kite at $180 per share in cash. The transaction value represents a 29.4 percent premium over
Kite Pharma's closing price of $139.10 last Friday.
Equities Trading UP
MaxPoint Interactive Inc (NASDAQ: MXPT) shares
shot up 149 percent to $13.67 after the company agreed to be acquired by Valassis for $13.86 per share in cash.
Shares of IXYS Corporation (NASDAQ: IXYS) got a
boost, shooting up 36 percent to $21.67 after the company agreed to be acquired by Littelfuse, Inc. (NASDAQ: LFUS) for around $750 million.
Kite Pharma Inc (NASDAQ: KITE) shares were also
up, gaining 29 percent to $179.19. Gilead Sciences, Inc. (NASDAQ: GILD) announced plans to buy Kite Pharma for around $11.9 billion.
Equities Trading DOWN
Uni-Pixel Inc (NASDAQ: UNXL) shares dropped 73
percent to $0.0698. Uni-Pixel announced plans to file for Chapter 11 bankruptcy in the next one to two business days.
Shares of Expedia Inc (NASDAQ: EXPE) were down 5
percent to $142.91. Uber Technologies Inc.’s board has voted to appoint Expedia Chief Executive Dara Khosrowshahi as its new
CEO.
Malibu Boats Inc (NASDAQ: MBUU) was down, falling
around 7 percent to $25.52. B. Riley downgraded Malibu Boats from Buy to Neutral.
Commodities
In commodity news, oil traded down 0.92 percent to $47.43 while gold traded up 0.47 percent to $1,304.00.
Silver traded up 1.04 percent Monday to $17.31, while copper rose 1.39 percent to $3.099.
Eurozone
European shares were mostly lower today. The eurozone’s STOXX 600 declined 0.14 percent, the Spanish Ibex Index rose 0.05
percent, while Italy’s FTSE MIB Index rose 0.12 percent. Meanwhile the German DAX declined 0.09 percent, and the French CAC 40
slipped 0.02 percent while U.K. shares fell 0.08 percent.
Economics
The advanced trade deficit in goods increased 1.78 percent to $65.1 billion in July. However, economists were expecting a trade
deficit of $64.5 billion. Wholesale inventories rose 0.4 percent in July.
The Dallas Fed manufacturing report for August is schedule for release at 10:30 a.m. ET.
The Treasury is set to auction 6-month bills and 2-year notes at 11:30 a.m. ET.
The Treasury will auction 3-month bills and 5-year notes at 1:00 p.m. ET.
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