The three major indices were mixed today.

The NASDAQ fell 351.33 points.

The DOW rose 148.01 points.

The S&P 500 fell 27.79 points.

Broad market sentiment appeared mixed, with The DOW closing higher while the NASDAQ Composite and S&P 500 experienced declines. Technology stocks showed weakness, contributing to the Nasdaq's more significant drop. Investors continued to evaluate economic data and corporate earnings, influencing sector-specific movements across the market.

All this as Apogee Therapeutics (APGE) shares rose $42.17 to end the day at $132.55 per share. The stock saw substantial upward movement throughout the trading session. Apogee Therapeutics' significant price move occurred because AbbVie (ABBV) announced a proposed all-cash acquisition of Apogee Therapeutics for $135.11 per share, valuing the company at approximately $10.9 billion. Additionally, Apogee Therapeutics reported highly positive 16-week Phase 2 APEX Part B data for its lead candidate, zumilokibart, in moderate-to-severe atopic dermatitis, and secured a strategic financing collaboration with Blackstone Life Sciences for up to $1.3 billion to support the late-stage development and potential commercialization of zumilokibart.

Apogee Therapeutics expects the developments to significantly advance its strategic outlook and market positioning. The acquisition by AbbVie aims to integrate Apogee's late-stage immunology assets, particularly zumilokibart (APG777), into AbbVie's robust pipeline, strengthening its presence in treating inflammatory and immunology conditions such as atopic dermatitis and asthma. The substantial financing from Blackstone Life Sciences provides critical capital for the continued development and potential commercialization of zumilokibart, reducing future dilution risk and accelerating its path to market.