Following the market opening Monday, the Dow traded up 0.24% to 29171.93 while the NASDAQ rose 0.41% to 9559.73. The S&P also rose, gaining 0.04% to 3,328.96.
Leading and Lagging Sectors
In trading on Monday, energy shares fell 1%.
Allergan plc (NYSE: AGN) reported stronger-than-expected results for its fourth quarter on Monday
Allergan reported quarterly earnings of $5.22 per share on Monday, which beat the analyst consensus estimate of $4.57. The company reported quarterly sales of $4.351 billion, which beat the analyst consensus estimate of $4.09 billion.
Equities Trading UP
vTv Therapeutics Inc. (NASDAQ: VTVT) shares shot up 59% to $3.34 after the company reported the results from part 2 of the Phase 2 Simplici-T1 study of TTP399 achieved the primary objective of a statistically significant reduction in HbA1c.
Shares of Planet Green Holdings Corp. (NYSE: PLAG) got a boost, shooting 45% to $2.9250 after the company entered into share purchase agreement with two investors. The company will sell 1.35 million shares for $2.60 per share.
Taubman Centers, Inc. (NYSE: TCO) shares were also up, gaining 53% to $53.12. Simon Property Group, Inc. (NYSE: SPG) said Monday it plans to purchase an 80% ownership interest in Taubman Centers-owned Taubman Realty Group for $52.50 per share in cash.
Equities Trading DOWN
Benitec Biopharma Limited (NASDAQ: BNTC) shares tumbled 18% to $6.09 after jumping 40.64% on Friday.
Shares of Acasti Pharma Inc. (NASDAQ: ACST) were down 35% to $0.4961 after the company announced an investigation into its Phase 3 trials of CaPre is underway following 'inconsistent findings' that may have negatively impacted results in its TRILOGY 1 trial.
Diamond Offshore Drilling, Inc. (NYSE: DO) was down, falling 15% to $3.74 after the company reported Q4 earnings results.
In commodity news, oil traded down 0.1% to $50.26, while gold traded up 0.1% to $1,575.20.
Silver traded up 0.4% Monday to $17.76, while copper rose 0.2% to $2.558.
European shares were mostly lower today. The eurozone’s STOXX 600 declined 0.1%, the Spanish Ibex Index fell 0.1%, while Italy’s FTSE MIB Index rose 0.3% Meanwhile, the German DAX dropped 0.3%, and the French CAC 40 fell 0.2% while UK shares fell 0.2%.
On the economics calendar Monday, there is no important data due out.