Toward the end of trading Monday, the Dow traded up 0.39 percent to 23,449.06 while the NASDAQ climbed 0.12 percent to 6,790.66.
The S&P also rose, gaining 0.17 percent to 2,583.31.
Leading and Lagging Sectors
Monday afternoon, the non-cyclical consumer goods & services sector proved to be a source of strength for the market.
In trading on Monday, healthcare shares were relative laggards, down on the day by about 0.51 percent. Meanwhile, top losers in
the sector included Ligand Pharmaceuticals Inc. (NASDAQ: LGND), down 8 percent, and ImmunoGen, Inc. (NASDAQ: IMGN) down 7 percent.
Top Headline
Marvell Technology Group Ltd. (NASDAQ: MRVL)
agreed to acquire Cavium Inc (NASDAQ: CAVM) in a deal
valued at around $6 billion.
Under the deal, Marvell will buy Cavium for $40 per share in cash and 2.1757 shares of its stock for each Cavium share.
Equities Trading UP
Northern Technologies International Corp (NASDAQ: NTIC) shares shot up 16 percent to $20.50. Northern Technologies reported Q4
earnings of $0.30 per share on revenue of $10.90 million. The company also initiated a $0.10 per share dividend.
Shares of Cavium Inc (NASDAQ: CAVM) got a boost,
shooting up 10 percent to $83.43 after Marvell Technology Group Ltd. (NASDAQ: MRVL) agreed to acquire Cavium for $40 per share in cash and 2.1757 shares of
Marvell stock for each Cavium share.
Tactile Systems Technology Inc (NASDAQ: TCMD)
shares were also up, gaining 13 percent to $29.42. Tactile Systems will replace Lumos Networks Corp (NASDAQ: LMOS) in the S&P SmallCap 600 on Wednesday, November 22.
Equities Trading DOWN
Ligand Pharmaceuticals Inc. (NASDAQ: LGND) shares
dropped 8 percent to $129.67. Deutsche Bank downgraded Ligand Pharmaceuticals from Hold to Sell.
Shares of Sunshine Heart Inc (NASDAQ: CHFS) were
down 13 percent to $8.69 after dropping 21.58 percent on Friday.
Micronet Enertec Technologies Inc (NASDAQ: MICT)
was down, falling around 17 percent to $1.02. Micronet reported Q3 adjusted loss of $0.16 per share on sales of $6.93 million.
Commodities
In commodity news, oil traded down 0.97 percent to $56.00 while gold traded down 1.45 percent to $1,277.70.
Silver traded down 2.78 percent Monday to $16.89, while copper rose 0.52 percent to $3.107.
Eurozone
European shares closed higher today. The eurozone’s STOXX 600 surged 0.67 percent, the Spanish Ibex Index rose 0.15 percent,
while Italy’s FTSE MIB Index gained 0.44 percent. Meanwhile the German DAX gained 0.50 percent, and the French CAC 40 climbed 0.40
percent while U.K. shares rose 0.12 percent.
Economics
The index of leading economic indicators rose 1.2 percent for October.
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