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.
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