Mid-Day Market Update: Baxalta Shares Surge Amid Report Of Shire Interest; Canadian Solar Shares Slide

Midway through trading Monday, the Dow traded down 2.42 percent to 17,003.06 while the NASDAQ dipped 2.86 percent to 4,864.31. The S&P also fell, dropping 2.31 percent to 1,996.79. Leading and Lagging Sectors On Monday, utilities shares slipped by just 1.1 percent. Top gainers in the sector included Energy Transfer Partners LP ETP, Black Hills Corp BKH, and UGI Corp UGI. In trading on Monday, technology shares dipped by 2.75 percent. Meanwhile, top losers in the sector included Perion Network Ltd PERI, down 15 percent, and NeoPhotonics Corp NPTN, down 11 percent. Top Headline Tesla reported total deliveries of 17,400 for 4Q2015, representing 78 percent y/y increase and 48 percent sequential growth. This comprised of 17,192 deliveries of Model S and 208 of Model X. The company delivered 50,580 vehicles for the full year. Equities Trading UP Unilife Corp UNIS shares shot up 55 percent to $0.767 as the company announced an exclusivity agreement with Amgen, Inc. AMGN. Shares of Lululemon Athletica inc. LULU got a boost, shooting up 6 percent to $55.38. Wells Fargo upgraded Lululemon from Market Perform to Outperform. Baxalta Inc BXLT shares were also up, gaining 3 percent to $40.35 amid a recent report of Shire PLC (ADR) SHPG acquisition interest. According to Saturday's report from Bloomberg, Shire is in advanced talks to acquire Baxalta for about $32 billion in cash and stock, excluding debt, according to people familiar with the matter. Equities Trading DOWN Canadian Solar Inc. CSIQ shares dropped 5 percent to $27.57 after the company reported a $100 million at-the-market offering of common shares. Shares of Tesla Motors Inc TSLA were down 7 percent to $222.46 following Sunday's disclosure of auto deliveries. The company reported that it has delivered 17,400 vehicles during the fourth quarter, and 50,580 vehicles for the full year. Netflix, Inc. NFLX was down, falling around 7 percent to $105.91. Analysts at Baird downgraded Netflix from Outperform to Neutral and lowered the price target from $128.00 to $115.00. Commodities In commodity news, oil traded down 0.94 percent to $36.69, while gold traded up 1.58 percent to $1,076.90. Silver traded up 0.78 percent Monday to $13.91, while copper fell 2.88 percent to $2.07. Eurozone European shares were lower today. The eurozone's STOXX 600 declined 2.74 percent, the Spanish Ibex Index fell 2.84 percent, while Italy's FTSE MIB Index dropped 3.16 percent. Meanwhile, the German DAX dropped 4.47 percent, and the French CAC 40 slipped 3.06 percent, while U.K. shares fell 2.43 percent. Economics The Markit manufacturing PMI dropped to 51.20 in December, versus a previous reading of 51.30. However, economists were projecting a reading of 51.10. The ISM manufacturing PMI slipped to 48.20 in December, versus a prior reading of 48.70. However, economists were expecting a reading of 49.00. US construction spending declined 0.40 percent in November, versus economists' expectations for a 0.70 percent growth.