Biggest S&P 500 Movers on Monday
17 minutes ago
Advancers:
- Broadcom (AVGO) shares rose 5.5%, notching the top performance in the S&P 500, after UBS lifted its price target on the stock. Analysts said they boosted their forecasts for Broadcom’s artificial intelligence revenue based on the chipmaker’s disclosures about its addressable market along with an improving outlook for its custom compute and AI networking businesses.
- Shares of Advanced Micro Devices (AMD) jumped 4.5% as analysts at Rosenblatt listed the semiconductor stock as one of their top picks for the first half of 2025. The investment research firm believes AMD is positioned for strength in the server and data center segment as it takes an increasing share of the central processing unit and graphic processing unit markets.
- Other stocks in the semiconductor industry joined Monday’s rally as the Biden administration announced a new investigation into legacy Chinese semiconductors used in U.S. products. Shares of microcontroller maker Microchip Technology (MCHP) and power circuit provider Monolithic Power Systems (MPWR) were more than 4% apiece, while chip industry giants Nvidia (NVDA), Intel (INTC), and Qualcomm (QCOM) also gained ground.
Decliners:
- Carnival Corp. (CCL) shares sank 4%, falling the most of any S&P 500 stock. Monday’s drop reversed gains posted at the end of last week after the cruise operator reported better-than-expected quarterly profits and provided an upbeat outlook for 2025 bookings. Analysts at Bernstein maintained their “market perform” rating on Carnival stock, pointing to a more favorable growth outlook for competing cruiser Royal Caribbean (RCL). Norwegian Cruise Line Holdings (NCLH) shares lost 2.9%.
- Paramount Global (PARA) entered an agreement with the Federal Communications Commission (FCC) to pay fines for Emergency Alert System violations. A filing last week revealed a petition for the FCC to challenge Paramount’s planned merger with production company Skydance Media, but reports have suggested that the relationship between Paramount boss Shari Redstone and President-elect Donald Trump could be beneficial as the incoming administration evaluates the deal. Shares of the entertainment giant lost 2.9%.
- Shares of cloud-based human resources software provider Workday (WDAY) declined 2.8% on Monday, the stock’s first day of trading as a constituent of the S&P 500. The stock gained ground earlier in December following the announcement that it would join the benchmark index but has been volatile in recent weeks.
- Shares of ResMed (RMD), a medical technology company focused on sleep apnea devices, lost 2.6% after the Food and Drug Administration approved Zepbound as a treatment for obstructive sleep apnea treatment in adults with obesity. Increased adoption of the blockbuster weight-loss drug from Eli Lilly (LLY) among sleep apnea patients could pressure sales of ResMed’s continuous positive airway pressure, or CPAP, devices. Eli Lilly shares climbed 3.7%.
Palantir, MicroStrategy, Axon Stocks Struggle on First Day in Nasdaq 100
1 hr 20 min ago
It hasn’t been a great kickoff for the newest members of the Nasdaq 100 Index.
Shares of Palantir Technologies (PLTR), MicroStrategy (MSTR), and Axon Enterprise (AXON) all wavered on their first day in the prestigious index. Palantir stock was flat late in the session, while Axon Enterprises shares traded 1% lower. MicroStrategy slumped more than 8%.
Also weighing on MicroStrategy shares was the price of Bitcoin, which the company disclosed in a regulatory filing it bought more of last week. The largest corporate holder of the cryptocurrency bought 5,262 bitcoins at an average price of $106,662, close to the cryptocurrency’s all-time high.
The price of Bitcoin slumped to about $93,000 on Monday.
Despite each stock’s struggles on Monday, shares of Palantir Technologies and MicroStrategy have skyrocketed 360% and 445%, respectively, this year, while Axon Enterprise shares have jumped 140%.
Where Analysts Think Bitcoin Is Headed in 2025
2 hr 12 min ago
Bitcoin (BTCUSD) has had a strong 2024, climbing above $100,000 as a confluence of factors drove up investor confidence in the leading cryptocurrency.
While the Federal Reserve’s interest rate outlook shook crypto markets last week, some analysts remain bullish on the cryptocurrency—but warn of volatility ahead.
Prior to the Fed meeting shock, digital asset manager Bitwise’s predictions for 2025 pegged bitcoin rising above $200,000 for the first time. That number rises to $500,000 if the federal government adopts Senator Cynthia Lummis’ plan of buying 1 million bitcoin for a “strategic bitcoin reserve.”
Standard Chartered analysts have a similar price expectation for bitcoin, and align with Bitwise on projecting that inflows for spot bitcoin ETFs in 2025 will remain similar to levels seen this year. So far this year, bitcoin ETFs have seen net inflows of more than $36 billion, according to data from Farside Investors.
Analysts are VanEck are also bullish, but less so. They expect bitcoin prices to reach a high of $180,000 in 2025 with volatility galore. They see bitcoin prices falling by roughly a third (30%) after touching new highs earlier in the year, followed by a period of consolidation during the summer before a peak toward year-end.
As of Monday afternoon, bitcoin traded at about $93,000.
Top Stock Movers Now
3 hr 16 min ago
Chip stocks advanced, led by Broadcom (AVGO) after UBS analysts raised their price target for the stock, citing the chipmaker’s artificial intelligence (AI) revenue growth. Advanced Micro Devices (AMD) shares also surged after Rosenblatt analysts called it a “top pick” on its AI-driven potential.
Tesla (TSLA) shares gained after Barclays analysts suggested the electric vehicle (EV) manufacturer could report better-than-expected deliveries for the fourth quarter.
Shares of Xerox Holdings (XRX) rose after the office products maker purchased rival Lexmark International for $1.5 billion.
Shares of sleep apnea machine maker ResMed (RMD) slumped after the Food and Drug Administration (FDA) approved Eli Lilly’s (LLY) weight-loss treatment Zepbound to treat some sleep apnea patients. Eli Lilly shares climbed.
Shares of Nordstrom (JWN) fell after the retailer announced it’s being taken private by its founding family and a Mexican retail group.
Xerox Stock Soars on $1.5B Acquisition of Printer Maker Lexmark
4 hr 4 min ago
Xerox Holdings (XRX) shares jumped nearly 7% intraday trading Monday after the office products maker announced that it was buying privately held Lexmark International from its Chinese owners for $1.5 billion to address the increased number of workers with flexible schedules. The company also slashed its dividend in half to help pay the costs.
The company said the deal would “strengthen the Xerox core print portfolio and build a broader global print and managed print services business better suited to meet the evolving needs of clients in the hybrid workplace.”
Xerox added that the purchase will also assist the company in serving clients in the growing A4 color market, as well as boost its reach in the Asia-Pacific (APAC) region.
The transaction is expected to close in the second half of 2025.
Despite today’s gains, shares of Xerox Holdings are down 50% this year.
Eli Lilly Rises on FDA Approval of Weight-Loss Drug Zepbound for Sleep Apnea
5 hr 9 min ago
Eli Lilly’s (LLY) Zepbound has received Food and Drug Administration (FDA) approval as a treatment for obstructive sleep apnea for adults with obesity, the drugmaker announced late Friday.
The approval comes after several trials earlier this year that showed the tirzepatide-based drug is five times more effective than a placebo at reducing breathing disruptions caused by obstructive sleep apnea (OSA) and in 50% of cases, completely preventing them.
“Nearly half of clinical trial patients saw such improvements that they no longer had symptoms associated with OSA, marking a critical step forward in reducing the burden of this disease and its interconnected health challenges,” Jonsson said.
Zepbound got FDA approval to treat obesity and weight loss in November 2023, joining Eli Lilly’s other tirzepatide-based drug, Mounjaro. The two drugs, along with Novo Nordisk’s (NVO) Ozempic and Wegovy, have captured the majority of a surging weight-loss market that has grown substantially in recent years.
Eli Lilly shares were up more than 2% in midday trading Monday, having gained about 34% on the year. Shares of ResMed (RMD), a medical device company that makes much of its revenue through the sale of sleep apnea masks, were 4% lower on Monday and have been negatively affected previously by the sleep apnea trials for Zepbound.
Rumble Stock Soars After Video Platform Gets $775M Investment From Tether
6 hr 5 min ago
Rumble (RUM) shares skyrocketed Monday morning after the video platform received a $775 million investment from Tether, operator of a cryptocurrency platform and creator of the stablecoin of the same name.
Rumble announced that Tether had purchased 103.3 million shares of Rumble for $7.50 each. It noted that the transaction would not change the status of Chief Executive Officer (CEO) Chris Pavlovski as the firm’s majority stakeholder. The transaction is expected to close in the first quarter of 2025.
The company said it will use $250 million of the proceeds to “support growth initiatives and the remaining proceeds to fund a self tender offer for up to 70 million of its Class A Common Stock, at the same price.”
Oppenheimer wrote in a note to clients that for Rumble, the deal “should alleviate investor concerns related to liquidity” ahead of positive free cash flow. It has a “perform” rating on the stock.
Shares of Rumble were up 80% Monday morning at $13.20, their highest level since November 2022.
Honda Stock Surges as Automaker Plans To Merge With Nissan in 2026
7 hr 10 min ago
Honda’s (HMC) U.S.-listed shares popped Monday morning after the Japanese automaker and Nissan announced the signing of a memorandum of understanding (MOU) outlining their plans to merge in 2026.
The automakers plan to finalize the terms over the next several months and announce a definitive agreement in June 2025. A combined entity is expected to be listed on the Tokyo Stock Exchange in August 2026, the companies said.
Honda also announced a plan to buy back up to 1.1 trillion Japanese yen ($7 billion) worth of the automaker’s own stock over the next calendar year, replacing a 100 billion yen ($636.3 million) plan announced last month.
Japanese regulators have not explicitly spoken about the Honda-Nissan deal, but Yoji Muto, head of the Ministry of Economy, Trade and Industry, said last Friday that the government “should take a favorable view when companies cooperate to strengthen their competitiveness,” The Wall Street Journal reported.
Honda’s U.S.-listed shares soared 13% in early trading Monday after entering the day down about 23% this year.
Stock Futures Mixed To Start Holiday-Shortened Week
8 hr 5 min ago
Futures contracts connected to the Dow Jones Industrial Average traded 0.5% lower in premarket trading on Monday.
S&P 500 futures were off 0.2%.
Nasdaq 100 futures were barely hanging onto gains shortly before markets opened.
Source: Markets News, December 23, 2024: Broadcom, Nvidia Lead Stocks Higher To Start Shortened
