Stocks traded mostly lower with the Dow Jones Industrial Average taking a pause in its race toward 20,000. Crude oil was the biggest drag, tumbling below $53 a barrel and weighing on energy stocks.
Pet health care company VCA (WOOF) shot higher after agreeing to be acquired by Mars in a deal worth more than $9 billion. The acquisition, set to close in the third quarter, values VCA at a roughly 31% premium.
Takeda Pharmaceuticals has agreed to buy Ariad Pharmaceuticals (ARIA) , a purchase worth $5.2 billion. The purchase bulks up Takeda's oncology portfolio.
Urban Outfitters (URBN - Get Report) fell after reporting weaker-than-expected same-store sales over the critical holiday shopping season. Sales at its Urban Outfitters-branded stores climbed, while Anthropologie sales fell.