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MARKETS LIVE BLOG:

STOCKS CLIMB AS DOW POSTS 8TH STRAIGHT WIN

Fed's Michelle Bowman echoes higher-for-longer mantra for interest rates

Teva deal pushes Allergan up, Mylan down; GrubHub downgraded

Susannah Lee

Time for your daily dose of trending tickers, the stocks you're following based on your Yahoo Finance ticker searches.

Mylan

Dealmaking among drug makers are moved stocks in that sector including Mylan (MYL). Shares tanked after Teva Pharmaceutical (TEVA) dropped its bid for Mylan. Mylan has been pushing back on the takeover from the start and said its planning on making a deal of its own to buy store-branded drug maker Perrigo (PRGO).

 

Teva Pharmaceutical & Allergan

At the same time Teva rose after the Israeli-based drugmaker said it will buy the generic drug unit of Allergan (AGN). Shares of Allergan also gained in the session. The deal is for $40.5 billion dollars in cash and stock. The move is expected to allow the maker of botox to focus more on its branded drug business.

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GrubHub 

A downgrade pushed GrubHub (GRUB) lower. The stock was cut at Cowen to "market perform" from "outperform." The price target was slashed by $9 to $30 dollars a share. The firm believes GrubHub is facing growing competition with new delivery models that will erode its "first mover" advantage.