The stock market is down Monday, with the Dow Jones Industrial Average down 0.13%, the Nasdaq down 0.50% and the S&P 500 down 0.18%. Monday’s winners include a payments company getting bought out and a technology licensing company having its patents protected. Meanwhile, Monday’s losers are both pharmaceutical companies, with one throwing out the studies of a lung cancer drug and another receiving scrutiny from the federal goverment.
These are Monday’s market winners and losers.
Biggest Winners
Shares of LML Payment Systems Inc. (NASDAQ: LMLP) are up 81.82% to $3.40 on trading volume of 3.9 million shares. Digital River Inc. (NASDAQ: DRIV) is buying the payments company for $3.45 a share, or about $97.3 million. Before Monday, the 52-week high was $3.33.
Shares of Rambus Inc. (NASDAQ: RMBS) are up 22.52% to $6.04 on trading volume of 2.9 million shares. The technology licensing company was found to have destroyed potential evidence in a patent case with a South Korean semiconductor company, but the judge nevertheless believes the patents should remain valid. The 52-week high is $18.55.
Biggest Losers
Shares of Peregrine Pharmaceuticals, Inc. (NASDAQ: PPHM) are down 74.66% to $1.36 on trading volume of 43.2 million shares. The pharmaceutical company announced Monday that it threw out the results of a study for a lung cancer drug due to “major discrepancies” in the way the study was carried out. The 52-week low is 39 cents.
Shares of Questor Pharmaceuticals, Inc (NASDAQ: QCOR) are down 31.23% to $20.72 on trading volume of 15.6 million shares. The drug company announced Monday that its promotional practices are currently being investigated by the U.S. government. Before Monday, the 52-week low was $22.26.
Samuel Weigley
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