Midway through trading Monday, the Dow traded up 0.13% to 29,140 while the NASDAQ rose 0.55% to 9,572.55. The S&P also rose, gaining 0.26% to 3,336.51.
Leading and Lagging Sectors
In trading on Monday, energy shares fell 1.2%.
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 51% to $3.18 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 25% to $2.53 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 25% to $5.56 after jumping 40.64% on Friday.
Shares of Acasti Pharma Inc. (NASDAQ: ACST) were down 21% to $0.5999 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.
Valeritas Holdings, Inc. (NASDAQ: VLRX) was down, falling 40% to $0.3845 after the company announced an agreement for Zealand Pharma to acquire business and retain employees. The company and its subsidiaries also commenced voluntary Chapter 11 to facilitate value-maximizing sale.
In commodity news, oil traded down 1.2% to $49.73, while gold traded up 0.3% to $1,578.30.
Silver traded up 0.5% Monday to $17.785, while copper rose 0.1% to $2.556.
European shares were mixed today. The eurozone’s STOXX 600 rose 0.07%, the Spanish Ibex Index rose 0.05%, while Italy’s FTSE MIB Index rose 0.12% Meanwhile, the German DAX dropped 0.15%, and the French CAC 40 fell 0.23% while UK shares fell 0.27%.
On the economics calendar Monday, there is no important data due out.