What happened on the stock market today?

<p class = "web-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The shares rose slightly on Monday as investors look forward to the Federal Reserve meeting this week.Dow Jones Industrial Average (DJINDICES: ^ DJI)& nbsp; and the & nbsp;S & amp; P 500 (SNPINDEX: ^ GSPC)& nbsp; recorded modest gains of about 0.1%. "data-reactid =" 11 "> Shares rose slightly on Monday as investors looked forward to the Federal Reserve meeting this week. Dow Jones Industrial Average (DJINDICES: ^ DJI) and the S & P 500 (SNPINDEX: ^ GSPC) posted modest gains of about 0.1%.

Stock Market Today

Data source: Yahoo! Finance.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "As for individual actions, Pfizer (NYSE: PFE) is in the process of acquiring Array BioPharma (NASDAQ: ARRY), and Sotheby & # 39; s (NYSE: BID) is taken private. "data-reactid =" 16 "> With regard to individual stocks, Pfizer (NYSE: PFE) is in the process of acquiring Array BioPharma (NASDAQ: ARRY), and Sotheby & # 39; s (NYSE: BID) is taken in private.

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Source of the image: Getty Images.

Pfizer strengthens its position in cancer

The actions of Array BioPharma's cancer control specialist have shot up 56.9% to $ 46.44 after the company agreed to be bought out by Pfizer as part of a 10-year deal. , $ 4 billion. Pfizer pays $ 48 per cash share for Colorado – based biotechnology after the boards of directors of both companies have approved the acquisition. Pfizer's share rose 0.3%.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Array BioPharma A year ago, it was approved by the FDA for its combination drug Braftovi and Mektovi for the treatment of metastatic melanoma with a mutation called BRAF. The market for this indication represents about 13,500 patients a year worldwide, but last month the company also announced the positive results of two end-stage trials on colorectal cancer treatment, opening up the possibility of a first treatment without chemotherapy up to a maximum of 30,000 patients & nbsp; per year with the disease. Array has 13 other drugs in its clinical pipeline. "Data-reactid =" 31 "> Array BioPharma was approved by the FDA a year ago for its drug combination Braftovi and Mektovi in ​​the treatment of metastatic melanoma with a mutation called BRAF.The market for this indication is every year in the world, about 13,500 patients, but last month the company also announced positive results in two advanced-stage trials of drugs used in colorectal cancer, opening the possibility of a first treatment without chemotherapy to 30 000 patients a year.Array has 13 other drugs in its clinical pipeline.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Pfizer benefits from its advantages solid balance sheet and huge cash flow strengthen its long-term position in oncology, the fastest-growing segment of the pharmaceutical industry. The company expects the agreement to reduce earnings per share from $ 0.04 to $ 0.05 over the next two years, but will increase earnings by 2022 and thereafter. "Data-reactid =" 32 "> Pfizer is benefiting from its strong balance sheet and huge cash-flow to strengthen its long-term position in oncology, the segment of the pharmaceutical industry that is experiencing the fastest growing growth. Faster. The agreement provides for a reduction in earnings per share of $ 0.04 to $ 0.05 over the next two years, but an increase in earnings in 2022 and beyond.

Sotheby's picks an offer

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The auction house Sotheby's announced that it was acquired by Patrick Drahi, media entrepreneur and art collector, for $ 57 in cash, and the stock climbed 58.6% at $ 56.13. This transaction makes Sotheby's property to private owners after 31 years of public activity. "Data-reactid =" 34 "> Sotheby's auction house & # 39; sa announced its acquisition by Patrick Drahi, a media entrepreneur, for $ 57 in cash.The transaction returns to Sotheby's & # 39; s who belongs to private property after 31 years of public activity.

<p class = "web-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The purchase price values ​​the" " Sotheby's business at $ 3.7 billion The stock has been a top-down experience for investors, registering an increase of more than 200% between early 2016 and mid-2017, but has mostly declined since Despite the high premium for the shares, the redemption price of the income inequality icon "Data-reactid =" 35 "> The purchase price values ​​Sotheby's business at $ 3.7 billion .The stock has been a rising and falling experience for investors, recording an increase of more than 200% Since 2016 and mid-2017, the decline is mainly downward: despite the high premium for the shares, the redemption price of the income inequality icon remains lower at the top of 52 weeks.

Sotheby's CEO, Tad Smith, spoke about the freedom the company will enjoy in the hands of the private sector, stating in the press release: "This acquisition will allow Sotheby's to accelerate the successful growth program program in recent years in a more flexible private environment. "

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " More from The Motley Fool "data-reactid =" 37 "> More from The Motley Fool

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Jim Crumly holds shares in Pfizer. The Motley Fool has no position in the mentioned actions. The Motley Fool has a disclosure policy."data-reactid =" 45 ">Jim Crumly owns Pfizer shares. The Motley Fool has no position in the mentioned actions. Motley Fool has a disclosure policy.