The broader U.S. stock market averages fell 0.25% to 0.5% on Monday, led by energy and materials names. The underlying price of crude oil fell nearly 4% on the session. Elsewhere, the yield on the benchmark 10-year U.S. Treasury note fell 3.4 basis points to 2.146%.
Lexicon Pharmaceuticals (LXRX) was the big winner on Monday, gaining 61%. The company reported positive clinical results for an anti-diarrhea drug for patients with carcinoid syndrome. On the other hand, Starz (STRZA) fell 12% after the company was downgraded at Morgan Stanley from Overweight to Equal-Weight.
In after-hours action, Integrated Devices (IDTI) is trading more than 4% higher after posting better-than-expected earnings. Meanwhile, Denny's (DENN) and Texas Roadhouse (TXRH) are down 7% and 5%, respectively, after each restaurant operator had quarterly profits that fell short of the consensus analyst estimate.
Elsewhere, American International (AIG) is little changed, even though management announced better-than-expected earnings. In addition, the company boosted the quarterly dividend 128%, to $0.28 a share (1.75% yield), and added $5 billion to its stock buyback program.
Looking ahead to Tuesday morning, Aetna (AET), Coach (COH), CVS Health (CVS), Kellogg (K) and Sprint (S) headline the earnings calendar.