The stock market is down Monday, with the Dow Jones Industrial Average down 0.08%, the Nasdaq down 0.02% and the S&P 500 down 0.01%. Today’s winners include two companies getting bought out and a pharmaceutical company reporting strong results for a late-stage drug trial. Today’s losers include a health company short on cash and a pharmaceutical firm with poor results on a late-stage drug trial.
These are Monday’s market winners and losers.
Shares of Titanium Metals Corp. (NYSE: TIE) are up 42.18% to $16.45 on trading volume of 18.7 million shares. Precision Castparts Corp. (NYSE: PCP) will buy Titanium Metals for $2.9 billion. The 52-week high is $16.53.
Shares of Gilead Sciences Inc. (NASDAQ: GILD) are up 11.94% to $72.77 on trading volume of 10.4 million shares. The company reported that its Hepatitis C drug program notched a 100% cure rate in a late-stage trial. Before Monday, the 52-week high was $70.39.
Shares of Jefferies Group Inc. (NYSE: JEF) are up 11.84% to $15.96 on trading volume of 8.9 million shares. Leucadia National is buying the investment bank for roughly $2.6 billion in stock. The 52-week high is $19.82.
Shares of Clovis Oncology Inc. (NASDAQ: CLVS) are down 33.46% on trading volume of 2.1 million shares. The company announced that its pancreatic cancer drug failed a late-stage trial. The 52-week low is $11.45.
Shares of Star Scientific Inc. (NASDAQ: STSI) are down 24.26% to $1.94 on trading volume of 4.6 million shares. The company announced it was running low on cash and it could run out before the end of the 2013 first quarter. The company also said it only received $5 million in cash from RJ Reynolds tobacco in regards to a lawsuit over patents. Before Monday, the 52-week low was $2.10.
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