Stocks were mostly higher on Monday as investors looked ahead to U.S. inflation data this week and the start of second-quarter earnings season.
These stocks were making moves Monday:
Icahn Enterprises
(ticker: IEP) was rising 20% after the company confirmed in a securities filing a report from The Wall Street Journal that said Carl Icahn, the activist investor, and major banks finalized amended loan agreements that untie his personal loans from the trading price of the company’s shares, a key risk that was raised by short-seller Hindenburg Research.
Novavax
(NVAX) gained 27% after the Covid-19 manufacturer said it will receive $350 million from Canada to settle forfeited vaccine doses that were supposed to be delivered.
Helen of Troy
(HELE), which sells products such as Revlon cosmetics and Pur water filters, gained 15% after posting better-than-expected fiscal first-quarter adjusted earnings.
FMC Corp.
(
FMC
) lost 10% after the agricultural sciences company cut its revenue outlook for its second quarter and year. It was the leading decliner in the
S&P 500.
Corteva
(CTVA), a maker of seeds and chemicals for farmers, dropped 4.9%.
Cava Group
(CAVA) jumped 9.3% to $43.31 after the Mediterranean fast-casual restaurant chain received a flurry of initiations at Buy from Wall Street firms including Stifel and Jefferies. Last month, Cava made its trading debut on the New York Stock Exchange and the stock price has nearly doubled from its initial public offering price of $22 a share.
Carvana
(CVNA) rose 7.8% after the user-car dealer said in a press release that it saw “exponential growth” in used electric-vehicle sales in the first half of the year, illustrating demand for more affordable options.
MercadoLibre
(MELI) fell 6.6% to $1,078 after shares of the e-commerce and payments company were downgraded to Neutral from Buy at
BofA,
and the stock’s price target was slashed to $1,400 from $1,700 at Wolfe Research.
Electric-vehicle maker
Rivian Automotive
(RIVN) gained 2.4%, rising for its ninth consecutive day, according to Dow Jones Market Data.
Tesla
(TSLA) fell 2.2% to $268.46 even after the electric-vehicle giant received a price target boost to $265 from $185 at Jefferies.
BlackRock
(BLK) jumped 1.8% to $697 after the investment manager was upgraded to Outperform from Market Perform at Keefe Bruyette. It also received a price target lift to $781 from $741 at Jefferies. The company reports earnings on Friday.
Write to Joe Woelfel at [email protected]
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