Midway through trading Monday, the Dow traded up 0.34 percent to 22,343.47 while the NASDAQ climbed 0.39 percent to 6,473.86.
The S&P also rose, gaining 0.27 percent to 2,507.03.
Leading and Lagging Sectors
On Monday, the basic materials shares surged 0.62 percent. Meanwhile, top gainers in the sector included CF Industries
Holdings, Inc. (NYSE: CF), up 8 percent, and Intrepid
Potash, Inc. (NYSE: IPI), up 6 percent.
In trading on Monday, utilities shares fell 0.15 percent. Meanwhile, top losers in the sector included Empresa Distribuidora
y Cmrz Nrt SA(ADR) (NYSE: EDN), down 2 percent, and
SCANA Corporation (NYSE: SCG) down 2 percent.
Top Headline
Defense giant Northrop Grumman Corporation (NYSE: NOC) confirmed Monday it will buy Orbital
ATK Inc (NYSE: OA), the maker of the Pegasus rocket and a
vast array of other aerospace and defense systems, in a $9.2 billion deal.
Orbital holders will receive $134.50 a share in cash, the companies said in a statement Monday. The price is 22 percent above
the stock’s closing level Friday. Northrop also will assume $1.4 billion in net debt.
Equities Trading UP
Nabriva Therapeutics plc (NASDAQ: NBRV) shares
shot up 60 percent to $11.00 after the company disclosed that its Phase 3 trial evaluating IV and oral lefamulin met all primary
FDA and EMA endpoints.
Shares of Silver Spring Networks Inc (NYSE: SSNI)
got a boost, shooting up 24 percent to $16.10. Itron, Inc. (NASDAQ: ITRI) announced plans to acquire Silver Spring Networks for $16.25 per share.
Orbital ATK Inc (NYSE: OA) shares were also up,
gaining 21 percent to $132.69. Northrop Grumman announced plans to buy Orbital ATK in a $9.2 billion deal.
Equities Trading DOWN
LM Funding America, Inc. (NASDAQ: LMFA) shares
dropped 17 percent to $2.71.
Shares of Neos Therapeutics Inc (NASDAQ: NEOS)
were down 5 percent to $8.70. Neos Therapeutics disclosed that it has received the FDA approval for Adzenys ER.
Teladoc Inc (NASDAQ: TDOC) was down, falling
around 7 percent to $33.35. First Baird downgraded Teladoc from Outperform to Neutral.
Commodities
In commodity news, oil traded down 0.38 percent to $49.70 while gold traded down 0.69 percent to $1,316.00.
Silver traded down 1.64 percent Monday to $17.41, while copper rose 0.39 percent to $2.9605.
Eurozone
European shares were higher today. The eurozone’s STOXX 600 surged 0.39 percent, the Spanish Ibex Index rose 0.43 percent, while
Italy’s FTSE MIB Index surged 0.64 percent. Meanwhile the German DAX climbed 0.35 percent, and the French CAC 40 gained 0.24
percent while U.K. shares rose 0.42 percent.
Economics
The NAHB Housing Market Index slipped to 64.00 for September, versus prior reading of 68.00. However, economists were expecting
a reading of 67.00.
The Treasury International Capital data for July will be released at 4:00 p.m. ET.
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