Major U.S. stock indexes rose in Monday midday trading amid new optimism over a coronavirus vaccine, and several acquisitions among major companies.
The S&P 500 rose 1.7% to 3,396.88, while the Dow Jones Industrial Average increased 1.5% to 28,071.12.
The Nasdaq jumped 2% to 11,069.00.
Crude oil dipped 0.3% to $37.22 per barrel.
Gold climbed 0.9% to $1,966.
The yield on a 10-year Treasury bond decreased 0.4% to 0.666%.
REAL ESTATE
Irvine-based CoreLogic Inc. (NYSE: CLGX) rose 1.2% to $67.36 and a $5.4 billion market cap after Cannae Holdings and Senator Investment Group raised their bid to takeover the property data provider. The two companies, which hold a combined 15% of CoreLogic shares, on June 26 made a $7 billion takeover offer to buy each share for $65 in cash. They upped their bid to $66 per share on Monday “as a gesture of good faith to hopefully get us all back on the right track,” Cannae and Senator said in a statement. The investment group also said it would be willing to pay more “based on the value revealed to us in due diligence.”
HEALTHCARE
Irvine-based medical device company Axonics Modulation Technologies Inc. (Nasdaq: AXNX) continued last week’s gains in Monday midday trading, jumping 7.2% to $41.22 and a $1.6 billion market cap. The company reported positive results last week for a two-year clinical trial of its ARTISAN-SNM system, designed to help treat patients suffering from bladder and bowel dysfunction. Shares for the company are up 17% in the past week.
