On the upside
Deutsche Bank initiated coverage of Idenix Pharmaceuticals (Nasdaq: IDIX) with a Buy rating.
Danfoss offered a premium of $49 per share to acquire the remaining 24% of Sauer-Danfoss (NYSE: SHS) that the industrial group does not already own.
On the downside
Universal Technical Institute (NYSE: UTI) warned of flat or lower new student enrollments in 2013.
Investors locked in profits on Mellanox Technologies (Nasdaq: MLNX), whose stock price rose Monday after TheStreet affirmed its Buy rating on the company.
The Food and Drug Administration accepted Aveo Pharmaceuticals' (Nasdaq: AVEO) new drug application for its advanced renal cell carcinoma treatment tivozanib but the stock price fell.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 813.