Mid-Afternoon Market Update: Arena Pharma Gets a Boost on Jefferies Report as Markets Rise

Toward the end of trading Monday, the Dow traded up 0.13 percent to 15,782.17 while the NASDAQ rose 0.12 percent to 3,918.85. The S&P also rose, gaining 0.08 percent to 1,771.13. Top Headline Shire plc (NASDAQ: SHPG ) announced its plans to buy ViroPharma (NASDAQ: VPHM ) for $4.2 billion.