Cancer-Drug Maker Has an Incredible Day

Array spikes 57% after agreeing to Pfizer acquisition
By Newser Editors and Wire Services
Posted Jun 17, 2019 3:15 PM CDT
In this June 6, 2019, file photo specialist Anthony Rinaldi, left, and trader Fred DeMarco work on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

(Newser) – Stocks built on their recent momentum on Wall Street but the gains were relatively modest and trading remained choppy, the AP reports. Facebook jumped 4.2% and Netflix added 3.2% Monday, leading the way higher among communications companies. Health care stocks were also higher. Cancer drug maker Array jumped 57% after agreeing to be acquired by Pfizer. Sotheby's soared 59% after the auction house announced a deal to be taken private.

Meanwhile, banks fell as bond yields remained extremely low, PNC Financial lost 2%, and the yield on the 10-year Treasury note held steady at 2.08%. The S&P 500 index rose 2 points, or 0.1%, to 2,889. The Dow Jones Industrial Average rose 22 points, or 0.1%, to 26,112. The Nasdaq rose 48 points, or 0.6%, to 7,845.

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