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  1. Home
  2. / Investing
  3. / Energy

Trending Tickers: MUR, DO, BIIB, VZ

As crude oil falls below $40, stocks tied to oil are reeling.
By ANDERS KEITZ Aug 01, 2016 | 12:52 PM EDT
Stocks quotes in this article: MUR, DO, BIIB, VZ, FLTX, IONS

U.S. indices were mixed during midday trading Monday as crude oil fell below $40 per barrel. The S&P 500 and Dow Jones Industrial Average were both down slightly, while the Nasdaq was showing a gain of 0.3%.

But stocks tied to reeling crude oil prices dominated the market laggards in afternoon trading Monday, pulling Murphy Oil (MUR) and Diamond Offshore (DO) to the bottom of the S&P 500, with shares of both companies falling about 6.5%.

Shares of Murphy Oil -- the El Dorado, Ark.-based oil and gas giant -- have managed to climb about 14% so far this year, as crude rebounded from 2016 lows of $26.21, based on U.S. benchmark West Texas Intermediate. Meanwhile, Houston-based Diamond Offshore shares are up just over 1% on the year.

Biogen (BIIB) shares rose nearly 5% after announcing that its treatment with Ionis (IONS) for spinal muscular atrophy has made positive developments. The two companies said their treatment for infantile-onset spinal muscular atrophy demonstrated statistically significant improvement in certain motor functions, according to a Wall Street Journal report. Biogen plans to submit for regulatory approval in the coming months.

Shares of Verizon (VZ)  slipped about 1% during midday trading following news that it would buy Fleetmatics  (FLTX) for about $2.4 billion -- FLTX shares skyrocketed more than 38%. The telecommunications giant will pay $60 per share, a nearly 40% premium. The Dublin-based company that makes software to manage fleets of vehicles has more than 38,000 customers.

This deal comes a week after Verizon agreed to purchase Yahoo's core assets for $4.8 billion.

-- James Passeri contributed to this story.

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TAGS: Oil Equipment/Services | Investing | U.S. Equity | Healthcare | Energy | Technology | Telecom Services | Markets

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