U.S. markets were falling in afternoon trading Monday after crude oil prices reversed their gains from last week, falling about 3% to $47.09, based on U.S. benchmark West Texas Intermediate.
Shares of Swiss agrochemical company Syngenta (SYT) were up more than 10% after China National Chemical (ChemChina) announced it has received approval by the Committee on Foreign Investment in the U.S. for its $43 billion takeover bid for Syngenta.
"In addition to CFIUS clearance, the closing of the transaction is subject to anti-trust review by numerous regulators around the world and other customary closing conditions," Syngenta said in a statement. "Both companies are working closely with the regulatory agencies involved and discussions remain constructive," the company added, noting the deal, which was first announced in February, is likely to close this year.
Shares of Intersil (ISIL) rose about 20% after reports surfaced on Sunday that Japan's Renesas Electronics (RNECY) has been in talks to acquire the Milipitas, Calif-based semiconductor maker.
Citing "a person with knowledge of the matter," Bloomberg News said in a Sunday report that an agreement has not been reached as of yet, and that "discussions may not result in a deal." Intersil shares are now up roughly 47% so far on the year.
On the oil and gas front, shares of Oklahoma-based exploration company WPX Energy (WPX) were down about 5% in midday trading on the slip in crude-oil prices, as analysts have begun to raise concerns that U.S. stockpiles may be greater than some investors expect.
In addition, shares of Houston's Marathon Oil (MRO) and Swiss offshore driller Transocean (RIG) , both members of Real Money's Stressed Out watch list, were down about 7.5% and 4%, respectively, in afternoon trading.
