U.S. indices were in the red Monday afternoon, as volatile oil prices also slipped during trading.
The S&P 500 was down 0.1%, the Dow Jones Industrial Average declined 0.03% and the Nasdaq dropped 0.2%.
Industry standard Brent crude contracts for June delivery were down $0.52 to $38.15 per barrel while West Texas crude was down $0.30 to $36.49 per barrel.
Shares of Ruckus Wireless (RKUS) swam against the market tide today, spiking 32% after the company agreed to be purchased by network gear maker Brocade (BRCD) for $1.5 billion. Brocade's purchase allows the company to take advantage of growing demand for Wi-Fi access over large areas like offices and sports stadiums. Brocade shares were down 13.4% midday.
Virgin Atlantic (VA) shares were also rising, up 42% after the airline was purchased by Alaska Airlines (ALK) in a deal valued at about $2.6 billion, or $4 billion when taking into account debt considerations.
Tesla Motors (TSLA) shares were gaining after the electric vehicle maker reported that pre-orders for its new economy Model 3 vehicle topped 276,000 units. While the vehicle's base price is $35,000, based on an average $42,000 price tag that includes extras the company has a backlog of $11.6 billion.
Action Alerts PLUS holding Facebook (FB) was declining following a Deutsche Bank analyst note that predicted a soft first quarter showing later this month. Despite the bearish near-term expectations, analysts at the broker-dealer also expect the pullback to be a good buying opportunity, maintaining their $145 price target.
Groupon (GRPN) shares were up over 10% after the company announced a $250 million investment from Comcast (CMCSA)-backed venture capital firm Atarios. The company also said that there could be a potential partnership with Comcast.