Mid-Morning Market Update: Markets Open Lower; Brooks Automation Divests Semiconductor Business For $3B

Benzinga
2021-09-20

Following the market opening Monday, the Dow traded down 1.42% to 34,093.46 while the NASDAQ fell 1.86% to 14,763.93. The S&P also fell, dropping 1.54% to 4,364.65.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 42,088,400 cases with around 673,760 deaths. India confirmed a total of at least 33,478,410 cases and 445,130 deaths, while Brazil reported over 21,239,780 COVID-19 cases with 590,750 deaths. In total, there were at least 228,595,280 cases of COVID-19 worldwide with more than 4,692,920 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Utilities shares slipped by just 0.04% on Monday. Meanwhile, top gainers in the sector included Companhia Paranaense de Energia - COPEL (NYSE:ELP), up 3% and Pure Cycle Corporation (NASDAQ:PCYO) up 2%.

In trading on Monday, energy shares tumbled 3%.

Top Headline

Private equity firm Thomas H. Lee Partners, L.P. has agreed to acquire Brooks Automation Inc's (NASDAQ:BRKS) Semiconductor Solutions Group business in a transaction valued at $3 billion. The transaction is likely to close in the first half of CY22

Equities Trading UP

ZIVO Bioscience, Inc. (NASDAQ:ZIVO) shares shot up 168% to $7.51.

Shares of Edesa Biotech, Inc. (NASDAQ:EDSA) got a boost, shooting 35% to $7.94 after the company disclosed Phase 2 data of its monoclonal antibody in hospitalized COVID-19 patients.

LiqTech International, Inc. (NASDAQ:LIQT) shares were also up, gaining 17% to $6.61.

Check out these big movers of the day

Equities Trading DOWN

BeyondSpring Inc. (NASDAQ:BYSI) shares tumbled 19% to $18.46 after the company reported final Phase 3 DUBLIN-3 data with plinabulin/docetaxel combination versus docetaxel alone at the ESMO 2021 event.

Shares of Helbiz, Inc. (NASDAQ:HLBZ) were down 20% to $14.12. Helbiz shares jumped around 97% on Friday after the company announced its media unit has entered into an agreement with FOX Networks to broadcast the Italian Serie B championship across the USA and the Caribbean.

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) was down, falling 15% to $14.94. JP Morgan downgraded Protagonist Therapeutics from Overweight to Neutral and announced a $49 price target. The FDA recently placed a clinical hold on the company’s rusfertide development program.

Commodities

In commodity news, oil traded down 1.9% to $4.1725, while gold traded up 0.5% to $1,759.40.

Silver traded up 0.6% Monday to $22.48 while copper fell 1.7% to $4.1725.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 1.8%, the Spanish Ibex Index fell 1.8% and the German DAX 30 dropped 2.1%. Meanwhile, the London’s FTSE 100 fell 1.5%, French CAC 40 declined 1.9% and Italy’s FTSE MIB tumbled 2.3%. German producer prices increased 12.0% year-over-year in August following a 10.4% growth in the prior month. Spanish trade deficit widened to EUR 1.60 billion in July, compared to EUR 0.31 billion in the year-ago month.

Economics

The NAHB housing market index rose to 76 in September from 75 in August.

The Treasury will auction 3-and 6-month bills at 11:30 a.m. ET.

Check out the full economic calendar here

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