The U.S. stock market fell today, with the Dow Jones down more than 200 points. According to the Wall Street Journal, President Trump will restrict Chinese companies' investment in the tech sector, but the news will be announced later in the week.
Shares of Xerium Technologies Inc. (XRM, Financial) jumped in Monday trading on news that the company will be acquired by Andritz AG for $13.50 per share, representing more than 100% from Friday's closing price.
With the deal, valued at approximately $833 million,Andritz will strengthen its position in the paper industry.
"We are very excited about this coming together with Andritz," said Xerium's CEO Mark Staton in a statement. "I am convinced that Andritz will be a great long-term owner of Xerium."
Gainers
• Charter Communications Inc. (CHTR, Financial)
• Hologic Inc. (HOLX, Financial)
• Vertex Pharmaceuticals Inc. (VRTX, Financial)
• Alexion Pharmaceuticals Inc. (ALXN, Financial)
Losers
• Micron Technology Inc. (MU, Financial)
• NVIDIA Corp. (NVDA, Financial)
• Applied Materials Inc. (AMAT, Financial)
• Adobe Systems Inc.”‹ (ADBE, Financial)
Global markets
The main European stock markets traded in the red. The U.K.'s FTSE lost 1.52%, France's CAC fell 0.84%, Spain's Ibex declined 1.01% and Germany's Dax closed down 1.65%.
In Asia, markets closed in negative territory. Japan's Nikkei lost 0.79%, India’s BSE Sensex retreated 0.61%, Hong Kong's Hang Seng fell 1.29% and China´s Shanghai lost 1.05%.
Disclosure: The author holds no position in any stocks mentioned.
