Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Mid-Day Market Update: Dow Down Over 400 Points; Apptio Shares Spike Higher

HLGN, FE, INFIQ, OPK

Midway through trading Monday, the Dow traded down 1.55 percent to 25,587.41 while the NASDAQ declined 2.14 percent to 7,248.71. The S&P also fell, dropping 1.32 percent to 2,744.24.

Leading and Lagging Sectors

On Monday, the utilities shares climbed 0.7 percent. Meanwhile, top gainers in the sector included Huaneng Power International Inc (NYSE: HNP) up 4 percent, and FirstEnergy Corp. (NYSE: FE) up 3 percent.

In trading on Monday, information technology shares fell 3.4 percent.

Top Headline

athenahealth, Inc (NASDAQ: ATHN) gained 9.5 percent to $131.83 after the company agreed to be acquired by Veritas Capital and hedge fund Elliott Management for $5.7 billion, or $135 per share in cash.

 

Equities Trading UP

Apptio Inc (NASDAQ: APTI) shares shot up 51 percent to $37.615 after the company agreed to be acquired by private equity firm Vista Equity Partners for around $1.94 billion.

Shares of athenahealth, Inc. (NASDAQ: ATHN) got a boost, shooting up 10 percent to $132.02 after the company agreed to be acquired by Veritas Capital for $135 per share in cash.

OPKO Health, Inc. (NASDAQ: OPK) shares were also up, gaining 22 percent to $3.78 after the company reported upbeat earnings for its third quarter.

 

Equities Trading DOWN

Lumentum Holdings Inc (NASDAQ: LITE) shares dropped 32 percent to $38.060 after the company cut Q2 guidance.

Shares of GNC Holdings, Inc. (NYSE: GNC) were down 21 percent to $3.35 after the company reported downbeat earnings for its third quarter on Friday.

Infinity Pharmaceuticals Inc. (NASDAQ: INFI) was down, falling around 37 percent to $1.5204. JP Morgan downgraded Infinity Pharmaceuticals (NASDAQ: INFI) from Neutral to Underweight, while Wells Fargo downgraded the stock from Outperform to Market Perform.

Commodities

In commodity news, oil traded up 1.25 percent to $60.94 while gold traded down 0.33 percent to $1,204.60.

Silver traded down 0.85 percent Monday to $14.02, while copper fell 0.04 percent to $2.6835.

 

Eurozone

European shares were lower today. The eurozone’s STOXX 600 declined 1.01 percent, the Spanish Ibex Index fell 0.64 percent, while Italy’s FTSE MIB Index dropped 1.05 percent. Meanwhile the German DAX fell 1.77 percent, and the French CAC 40 fell 0.93 percent while U.K. shares fell 0.74 percent.

Economics

San Francisco Federal Reserve Bank President Mary Daly is set to speak in Idaho Falls, Idaho at 2:30 p.m. ET.