Midway through trading Monday, the Dow traded down 2.02 percent to 21,992.71 while the NASDAQ declined 1.24 percent to 6,254.51.
The S&P also fell, dropping 1.89 percent to 2,370.90.
Leading and Lagging Sectors
On Monday, the communication services shares slipped by just 0.5 percent. Meanwhile, top gainers in the sector included
Gravity Co., LTD. (NASDAQ: GRVY) up 9
percent, and Fang Holdings Ltd (NYSE: SFUN)
up 11 percent.
In trading on Monday, utilities shares fell 3.8 percent.
Top Headline
Mindbody Inc (NASDAQ: MB) agreed to be
acquired by investment firm Vista Equity Partners in a deal valued at around $1.9 billion.
Vista will pay $36.50 per share in cash, representing a 68 percent premium to Mindbody’s closing price on Friday.
Equities Trading UP
MINDBODY Inc (NASDAQ: MB) shares got a
boost, shooting up 67 percent to $36.20 after the company agreed to be acquired by Vista Equity for $36.50 per share cash in a deal
worth $1.9 billion.
Shares of MICT Inc (NASDAQ: MICT) shot
up 28 percent to $1.10. Micronet won a $1.4 million contract for tis TREQ-317 on board computer. MICT shares climbed around 184
percent Friday after the company announced Brookfield Interactive, ParagonEx, and MICT will merge and form a new company called
Global Fintech Holdings.
Adial Pharmaceuticals, Inc. (NASDAQ: ADIL) shares were also up, gaining 23 percent to $5.28. Adial Pharma reported the
holder of its convertible debt converted $325,000 note into 162,500 shares.
Equities Trading DOWN
Dell Technologies Inc (NYSE: DVMT) shares
dropped 26 percent to $75.86 after the company said it expects 2019 revenue below the analyst consensus.
Shares of Histogenics Corp (NASDAQ: HSGX) were down 73 percent to $0.1269 after the FDA said an additional clinical
trial will be needed before it would accept submission of a Biologics License Application for NeoCart.
Astrotech Corporation (NASDAQ: ASTC)
was down, falling around 24 percent to $3.78 after climbing 45.77 percent on Friday.
Commodities
In commodity news, oil traded down 2.7 percent to $44.36 while gold traded up 0.87 percent to $1,269.10.
Silver traded up 0.73 percent Monday to $14.81, while copper fell 0.11 percent to $2.671.
Eurozone
European shares were lower today. The eurozone’s STOXX 600 slipped 0.44 percent, the Spanish Ibex Index dipped 0.89 percent,
while Italy’s FTSE MIB Index declined 0.97 percent. Meanwhile the German DAX gained 0.21 percent, and the French CAC 40 fell 1.45
percent while U.K. shares fell 0.52 percent.
Economics
The Chicago Fed National Activity Index rose to positive 0.22 for November, versus a revised neutral reading for October.
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