WISH - Dow Surges Over 150 Points; Gilead Sciences To Acquire CymaBay Therapeutics For $4.3B | Benzinga
U.S. stocks traded higher midway through trading, with the Dow Jones index jumping over 150 points on Monday.
The Dow traded up 0.48% to 38,856.99 while the NASDAQ rose 0.26% to 16,031.87. The S&P 500 also rose, gaining, 0.30% to 5,041.87.
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Leading and Lagging Sectors
Energy shares rose by 1.1% on Monday.
In trading on Monday, health care shares fell by 0.1%.
Top Headline
Gilead Sciences Inc (NASDAQ: GILD) agreed to acquire CymaBay Therapeutics Inc (NASDAQ: CBAY) for $32.50 per share in cash or a total equity value of $4.3 billion.
The addition of CymaBay’s investigational lead product candidate, seladelpar for primary biliary cholangitis (PBC) including pruritus, complements Gilead’s existing liver portfolio.
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