U.S. stocks were lower, with the Dow Jones index falling over 100 points on Monday.
Shares of Dada Nexus Limited (NASDAQ:DADA) rose sharply during Monday's session after the company received a preliminary, non-binding proposal from JD.com, Inc. (NASDAQ:JD) to acquire all shares, including ADSs, at $2.00 per ADS ($0.50 per Ordinary Share) in cash.
The offer represents a 42% premium to the last closing price before the proposal date. The Board has formed a special committee, chaired by Laura Marie Butler, to evaluate JD.com's acquisition proposal.
Dada Nexus shares surged 31.2% to $1.8491 on Monday.
Here are some other big stocks recording gains in today's session.
- Akero Therapeutics, Inc. (NASDAQ:AKRO) shares jumped 114% to $56.03 after the company reported preliminary week 96 results from its SYMMETRY Phase 2B study of Efruxifermin.
- 89bio, Inc. (NASDAQ:ETNB) gained 48.7% to $10.60.
- Logility Supply Chain Solutions, Inc. (NASDAQ:LGTY) gained 24.6% to $14.11 after Aptean announced an agreement to acquire Logility in a $14.30-per-share all-cash deal.
- EverQuote, Inc. (NASDAQ:EVER) gained 17.3% to $20.63.
- Titan Machinery Inc. (NASDAQ:TITN) shares rose 10.3% to $17.38. Baird analyst Mircea Dobre upgraded Titan Machinery from Neutral to Outperform and raised the price target from $14 to $25.
- Portillo's Inc. (NASDAQ:PTLO) gained 10.2% to $13.76. Stifel analyst Chris O'Cull upgraded Portillos from Hold to Buy and raised the price target from $13 to $16.
- LendingTree, Inc. (NASDAQ:TREE) rose 10.2% to $45.67.
- Alpha Teknova, Inc. (NASDAQ:TKNO) gained 9.6% to $8.81.
- Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares rose 7.4% to $11.59 after jumping 13% on Friday.
- Service Properties Trust (NASDAQ:SVC) gained 7% to $2.92.
- LGI Homes, Inc. (NASDAQ:LGIH) rose 6.8% to $96.53
- The Hain Celestial Group, Inc. (NASDAQ:HAIN) climbed 6.2% to $5.65.
- AT&T Inc. (NYSE:T) gained 5.9% to $24.07 following better-than-expected quarterly financial results.
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