U.S. inventory indexes have been principally decrease in late-afternoon buying and selling Monday, weighed down by a slide in oil and pure fuel corporations as the worth of crude oil and different power futures fell. Utilities have been additionally among the many massive decliners, whereas well being care shares have been headed for the most important achieve. The Nasdaq composite held on to a tiny achieve, on the right track to shut at a brand new excessive.
KEEPING SCORE: The Dow Jones industrial common fell forty eight factors, or zero.2 %, to 19,914 as of three:forty p.m. Japanese Time. The Commonplace & Poor’s 500 index slid four factors, or zero.2 %, to 2,272. The Nasdaq composite index rose 18 factors, or zero.three %, to five,539. The S&P 500 and Nasdaq closed in any respect-time highs on Friday.
THE QUOTE: “We’ve had such an enormous postelection rally, I’m not stunned to see us making an attempt to consolidate round these ranges and commerce sideways, in all probability for some time,” stated Jim Davis, regional funding strategist on the Personal Shopper Group at U.S. Financial institution.
OIL SLIDE: A number of power corporations have been down as crude oil costs veered decrease. Southwestern Power fell forty nine cents, or four.eight %, to $9.seventy six, whereas Vary Assets misplaced $1.fifty seven, or four.6 %, to $32.sixty six. Devon Power was off $2.04, or four.2 %, at $forty six.sixty four.
DISAPPOINTING RESULTS: Acuity Manufacturers slumped 14.5 % after the lighting maker reported quarterly outcomes that fell properly in need of what analysts have been anticipating. The inventory led all of the decliners within the S&P 500 index, sliding $34.35 to $203.01.
STRONG QUARTER: Digital cost processing firm International Funds climbed 7.three % after it reported higher-than-anticipated quarterly outcomes. The inventory was the most important gainer within the S&P 500, including $5.forty six to $seventy nine.ninety one.
SOLD: Surgical Care Associates surged sixteen.1 % after the surgical care middle operator agreed to be acquired by UnitedHealth for $2.three billion in money and inventory. The deal comes as UnitedHealth, the nation’s largest well being insurer, appears to broaden its Optum well being enterprise. Shares in Surgical Care Associates added $7.86 to $fifty six.sixty one. UnitedHealth slipped forty six cents, or zero.three %, to $161.ninety five.
PHARMA DEAL: Merrimack Prescription drugs rose three.three % on information the drugmaker is promoting its first accredited drug, a pancreatic most cancers remedy referred to as Onivyde, to French drugmaker Ipsen in a deal value at the very least $575 million. Merrimack gained 12 cents to $three.seventy two.
PET HEALTH: VCA vaulted 28.2 % after the pet well being care firm agreed to be acquired by meals and drinks firm Mars Inc. for round…