Stocks Open Higher; Two Mergers Make Early Headlines – Investor’s Business Daily

U.S. stock indexes opened higher Monday as the Dow Jones industrial average reached another record high.

The Nasdaq rose 0.9%, while S&P 500 added 0.5% and the Dow Jones industrial average 0.4%. (AMZN) extended gains, rising 1.3% early on. The Nasdaq 100 bellwether announced Friday it is acquiring Whole Foods Market (WFM) for $13.7 billion.

Amazon CEO Jeff Bezos is among several high-profile tech CEOs meeting with President Trump at the White House today. Apple (AAPL)’s Tim Cook will also be in attendance. Shares of Apple rose 1.6% in the opening minutes.

Dow component Boeing (BA) rose nearly 1% after saying at the Paris Air Show that it expects to get more than 240 orders, worth a total of more than $30 billion, for its new 737 Max 10.

Early movers included Clovis Oncology (CLVS). Shares soared 42%at the open after the biotech revealed positive late-stage data for its ovarian cancer drug Rubraca.

A merger in the oil and gas sector made early headlines when EQT Corp. (EQT) announced plans to merge with Rice Energy (RICE) for $6.7 billion. Shares of Rice jumped 27%. EQT lost 7.5%.

In the healthcare space, Stryker (SYK) struck a deal to acquire small-cap Novadaq Technologies (NVDQ) for around $700 million. Shares of Novadaq soared 94% at the open. Novadaq is a provider of medical imaging solutions.

Altaba, formerly known as Yahoo, starts trading today under the ticker symbol AABA.

At the New York Mercantile Exchange, U.S. crude oil gave back early gains and was mostly unchanged at $44.75 a barrel.

Overseas markets were also higher. In Europe, the major averages rose as Brexit talks were set to begin and after new French President Emmanuel Macron’s centrist party won a parliamentary majority. The U.K.’s FTSE climbed 0.5%, Germany’s Dax 0.9% and France’s CAC-40 1%.

In Asia, Japan’s Nikkei climbed 0.6% and China’s Shanghai composite gained 0.7%.


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