U.S. stocks bounced around on Monday and the broader market averages ticked higher by the closing bell. Technology names led the way higher on the session, while energy and materials stocks fell. Elsewhere, crude oil lost almost 2% and gold dropped nearly 3%.
Exelixis (EXEL) was the big winner of the session, gaining 50%. The biotech firm said that its kidney cancer treatment had positive clinical trial results. Vivint Solar (VSLR) also moved 45% higher, after receiving a $2.2 billion takeover offer from SunEdison (SUNE).
In after-hours action, IBM (IBM) is down 4%, after reporting quarterly results. KKR (KKR) also announced a planned IPO for its First Data division. KKR led a consortium to buy the consumer e-finance firm back in 2007 for $27.5 billion.
Looking ahead to Tuesday morning, Baker Hughes (BHI), Harley-Davidson (HOG) United Technologies (UTX) and Verizon (VZ) headline the earnings calendar.
David Peltier is the portfolio manager for Stocks Under $10 and Dividend Stock Advisor. Test drive with a free trial.
