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5 Top Stock Gainers for Monday as Indexes Post Losses

Stocks were declining Monday as investor resilience dropped ahead of the Fed's decision on the pace of the taper later this week.

Stocks retreated Monday as investors waited for an all-important update from the Federal Reserve at midweek.

Here are some of the biggest gainers on Monday.

1. Arena Pharmaceuticals ARNA | Up 81%

Shares of Arena Pharmaceuticals  (ARNA)  soared Monday after Pfizer  (PFE)  agreed to buy the biopharma company for $100 a share, or $6.7 billion. The Park City, Utah, company is developing drugs for gastroenterology, dermatology and cardiology.

2. Harley-Davidson HOG | Up 5.5%

Shares of Harley-Davidson  (HOG) jumped after the motorcycle maker said it was taking its electric-vehicle division public through a merger with a special purpose acquisition company.

3. Bristol-Myers Squibb BMY | Up 4.%

Shares of Bristol-Myers Squibb  (BMY)  were higher after the pharmaceutical company raised its quarterly dividend 10% to 54 cents a share and added $15 billion to its stock buyback program.

4. Novavax NVAX | Up 1.3%

Shares of Novavax  (NVAX)  were higher after the drugmaker filed for emergency use authorization of its Covid vaccine in the United Arab Emirates.

Novavax submitted a regulatory filing to the Ministry of Health and Prevention.

5. Pfizer PFE | Up 5.4%

Shares of Pfizer  (PFE) made gains Monday after the health-care giant agreed to acquire Arena Pharmaceuticals for $6.7 billion. In addition, Pfizer was upgraded to buy from neutral at UBS, which expects sales of the antiviral pill Paxlovid to exceed Wall Street’s current expectations, Barron’s reported. And an Israeli study said Pfizer's booster shots were effective against the Omicron variant, reports say.