Following the market opening Friday, the Dow traded up 0.09% to 28984.16 while the NASDAQ rose 0.27% to 9228.46. The S&P also rose, gaining 0.18% to 3,280.55.
Leading and Lagging Sectors
Utilities shares climbed 0.5% on Friday. Meanwhile, top gainers in the sector included Companhia Energetica de Minas Gerais (NYSE: CIG), up 3%, and Centrais Eletricas Brasileiras S.A. - Eletrobras (NYSE: EBR), up 3%.
In trading on Friday, energy shares fell 0.5%.
The transaction is expected to close by the end of the first-quarter of 2020. The purchase price represents a premium of 86% to the 60-day volume-weighted average trading price of Dermira's stock ending on Jan 9., the last trading day before the announcement of the transaction.
Equities Trading UP
PhaseBio Pharmaceuticals, Inc. (NASDAQ: PHAS) shares shot up 42% to $8.05 after the company reported financing and co-development collaboration with SFJ Pharmaceuticals for PB2452.
Shares of Sorrento Therapeutics Inc (NASDAQ: SRNE) got a boost, shooting up 35% to $4.62 following news it received an unsolicited acquisition offer from private equity at $7 per share.
Ultragenyx Pharmaceutical Inc. (NASDAQ: PHAS) shares were also up, gaining 26% to $55.28 after the company announced positive topline cohort 3 results and improved longer-term Cohort 2 results from the Phase 1/2 study of DTX301 gene therapy.
Equities Trading DOWN
Portola Pharmaceuticals, Inc. (NASDAQ: PTLA) shares tumbled 43% to $14.01 after the company reported preliminary FY19 Andexxa global net revenues of $111 million.
Shares of Six Flags Entertainment Corporation (NYSE: SIX) were down 18% to $36.02 after the company disclosed that development of co-branded parks in China has encountered continued challenges. Wells Fargo downgraded the stock from Overweight to Equal-Weight and lowered the price target from $49 to $42 per share.
Cryoport, Inc. (NASDAQ: CYRX) was down, falling 17% to $14.88. Cryoport sees preliminary Q4 sales of $9.2 million.
In commodity news, oil traded up 0.1% to $59.64, while gold traded down 0.2% to $1,551.10.
Silver traded down 0.1% Friday to $17.935, while copper rose 0.1% to $2.805.
European shares were higher today. The eurozone’s STOXX 600 gained 0.1%, the Spanish Ibex Index rose 0.4%, while Italy’s FTSE MIB Index gained 0.4%. Meanwhile, the German DAX gained 0.2%, and the French CAC 40 rose 0.1% while UK shares fell 0.1%.
The U.S. economy created 145,000 jobs for December. However, economists were expecting a gain of 164,000 jobs. The unemployment rate held steady at 3.5% in December.
The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.