Midway through trading Monday, the Dow traded up 0.77 percent
to 15,037.85 while the NASDAQ surged 0.91 percent to 3,693.48.
The S&P also rose, gaining 0.71 percent to 1,666.84.
Top Headline Koch Industries announced its plans to acquire
) for $7.2 billion in cash.
Koch Industries will pay $38.50 per share to Molex's
shareholders, representing a 31% premium to the company's common
stock price of $29.34 on Friday.
For the fiscal year ended June 30, Molex posted sales of $3.6
Equities Trading UP Molex (NASDAQ:
) shot up 31.36 percent to $38.54 after the company agreed to be
acquired by Koch Industries
for $7.2 billion in cash.
Shares of Isis Pharmaceuticals (NASDAQ:
) got a boost, shooting up 11.64 percent to $31.17 after the
company and Biogen Idec (NASDAQ:
) announced a
to develop new treatments for neurological disorders.
) was also up, gaining 1.73 percent to $506.82. Apple is
scheduled to launch a new version of the iPhone tomorrow. FBN
Securities lifted the price target on the stock from $575.00 to
Equities Trading DOWN Shares of Sagent Pharmaceuticals
) were down 9.11 percent to $21.49 after the company announced an
offering of 4,441,627 shares
of common stock.
Sanchez Energy (NYSE:
) shares tumbled 2.83 percent to $23.09 after the company
announced a private offering of $150 million in senior notes. The
company also announced its plans to purchase assets in the Eagle
Ford Shale for $220 million.
Community Health Systems (NYSE:
) was down, falling 3.88 percent to $38.14 after Citigroup
downgraded the stock from Buy to Neutral.
Commodities In commodity news,
oil traded down 0.88 percent
to $109.56, while gold traded up 0.01 percent to $1,386.70.
Silver traded down 0.74 percent Monday to $23.72, while copper
rose 0.55 percent to $3.28.
Eurozone European shares
were mostly lower
today. The Spanish Ibex Index dropped 0.26 percent, while Italy's
FTSE MIB Index rose 1.16 percent. Meanwhile, the German DAX
gained 0.01 percent and the French CAC 40 tumbled 0.22 percent
while U.K. shares fell 0.03 percent.
Economics Data on consumer credit for July will be released at
3:00 p.m. ET.
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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