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
Cancer-Drug Maker Has an Incredible Day
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)

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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