Mergers dominated the domestic headlines, as Leucadia National
) agreed to acquire the remaining 71.4% of Jefferies
) it doesn't own for about $3.7 billion, or $17.66 per share, in an all-stock transaction.
Annaly Capital Managemen
) struck a deal to pay $12.50 per share for the remaining shares of CreXus
Also, after Friday's closing bell, Precision Castparts
) announced a deal to buy Titanium Metals
) for $16.50 per share, or $2.9 billion, a 43% premium to its closing price that day.
Two homebuilders, D.R. Horton
) and Beazer Homes
), both declined following their quarterly reports. D.R. Horton's earnings beat consensus and its net sales orders climbed 24% but shares slid 3%. Beazer reported stronger than expected revenue but a wider than expected loss and its shares plunged 15%.
Among the notable stock market gainers Monday was Sherwin-Williams
), which rose 6% following its agreement to buy privately held Comex for $2.34 billion to gain a bigger presence in Mexico.
Also higher were shares of Sarepta Therapeutics
), which climbed over 13% after a JMP Securities analyst said a Duchenne muscular dystrophy treatment developed by GlaxoSmithKline
) that will compete with Sarepta's eteplirsen is unlikely be approved until 2014 or 2015.
Among the noteworthy losers were Clovis Oncology
), down more than 35% after a trial of one of its drugs failed to meet its primary or secondary endpoints, and Achillion Pharmaceuticals
), down almost 12% after its competitor Gilead
) reported positive hepatitis C virus data.