Shares of Viacom fall

Shares of Viacom fall

On Monday, shares of media company Viacom declined after the company announced that it has decided to take a $785 million pretax charge as part of reorganization. Shares of Biotechnology Company Clovis Oncology Inc. rose more than 7% after the news that the company's cancer drug has been given 'Breakthrough' status by the United States Food and Drug Administration (FDA).

According to Clovis Oncology, the federal agency of the United States Department of Health and Human Services has awarded Breakthrough Therapy designation for rucaparib. The company stated that drug could be helpful in treating advanced ovarian cancer. As per reports, the stock of the company is now up about 3.96 on 49K shares.

On Monday, United States stocks rebounded and the blue-chip Dow Jones Industrial Average closed positive for the year. As per the reports, the Dow Jones Industrial Average jumped about 0.66% and closed at 17,880.85. The Standard & Poor's 500 added about 13.66 points and ended at 2,080.62, while Nasdaq composite leaped about 0.62% and finished at about 4,917.32.

Shares of mass media company Viacom Inc. dipped about 1% to $67.50 in extended-hours trading on Monday. The company announced that it will take a $785 million pretax charge as part of reorganization. According to Viacom, it has decided to 'temporarily pause' share purchases.

On the other side, shares of Uniqure NV climbed over 47% to $33.61, after the pharmaceutical company Bristol-Myers Squibb Co. announced that it will invest about 4.9% stake in the company. According to reports, the deal could be valued over $2.2 billion. Both Bristol-Myers Squibb Co. and Dutch company Uniqure NV predict that the new deal will be effective during the second quarter of 2015.

In after-hours trading, Bristol-Myers Squibb shares fell about 0.17 to $62.89, after closing at $63.


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