Mid-Afternoon Market Update: Markets Recovering; Walter Energy Gets Crushed

Toward the end of trading Monday, the Dow traded down 0.46 percent to 14,731.05 while the NASDAQ declined 0.60 percent to 3,336.51. The S&P also fell, dropping 0.70 percent to 1,581.00. Top Headline
Tenet Healthcare THC announced its plans to acquire Vanguard Health Systems VHS for $4.3 billion including debt. The offer price of $21 per share represents a 70% premium over Vanguard's closing price on Friday. The deal also includes the assumption of $2.5 billion in Vanguard debt. The transaction is projected to close by the end of the year. Equities Trading UP
Vanguard Health Systems VHS shot up 65.43 percent to $20.76 after Tenet Healthcare THC announced its plans to acquire the company for $4.3 billion including debt. Shares of Isis Pharmaceuticals ISIS got a boost, shooting up 27.95 percent to $27.96 after the company reported Phase 2 data on ISIS-APOCIII Rx. Tenet Healthcare THC was also up, gaining 5.57 percent to $43.87 after the company announced its plans to acquire Vanguard Health. Equities Trading DOWN
Shares of Walter Energy WLT took a big hit throughout trading Monday, falling 12.17 percent to $10.75 as the company's link to commodity prices dragged it down on the session. Apple AAPL was down, falling 2.28 percent to $404.00 after Jefferies analyst Peter Misek lowered the price target on the stock from $420 to $405. Western Digital WDC shares tumbled 2.66 percent to $58.59 after the company announced its plans to buy STEC STEC for around $340 million. Commodities
In commodity news, oil traded up 1.54 percent to $95.13, while gold traded down 0.81 percent to $1,281.70. Silver traded down 1.85 percent Monday to $19.75, while copper fell 1.61 percent to $3.05. Eurozone
European shares were lower today. The Spanish Ibex Index fell 1.89 percent and the Italian FTSE MIB Index declined 0.93 percent. Meanwhile, the German DAX fell 1.24 percent and the French CAC 40 declined 1.71 percent while U.K. shares tumbled 2.12 percent. Economics
The Chicago Fed National Activity Index rose to -0.30 in May, from -0.52 in the earlier month. The Dallas Fed manufacturing business index rose to 6.50 in June, versus a prior reading of -10.50. However, economists were expecting a reading of -1.50. Fed President Richard Fisher is set to speak today.