Top S&P Movers on Monday

Gainers

• The weekend's political violence helped shape the market's performance on Monday, boosting stocks related to security as well as companies that could benefit from a second Trump administration. Shares of Axon Enterprise (AXON), manufacturer of the Taser and other law enforcement devices, charged 5.5% higher, notching the top daily performance in the S&P 500.
  
• Shares of cloud-based human resources software provider Paycom Software (PAYC) jumped 5.2%, following positive comments from Zacks Equity Research. Analysts pointed to Paycom as an attractive pick for value investors, highlighting its dividend payouts and lack of debt, and indicated the company could be poised to beat estimates when it releases quarterly results on July 31.
• Energy was the top-performing sector on Monday amid higher probabilities of a Trump election victory, boosting expectations that favorable policies could be on the horizon for players in the oil and gas industry. Shares of oil exploration firm APA Corp. (APA), which has been strategically limiting production as it navigates a difficult pricing environment, added 5%. Shares of oilfield services companies also posted notable gains.

Decliners

• Greater confidence in Trump retaking the White House helped lift some companies in the energy sector, though the shifting political landscape pressured 澳洲幸运5官方开奖结果体彩网:renewable energy companies, with a clean energy transition likely to be less of a priority in a new Republican administration. Shares of green energy utility AES Corp. (AES) plunged 10%, suffering the steepest losses of any S&P 500 constituent on Monday.
• Beyond the unfavorable political outlook for renewables, losses spread across the solar power industry after Israel-based SolarEdge Technologies (SEDG) said it would lay off 400 employees as it reacts to a buildup of inventory and a slowdown in Europe's solar markets. SolarEdge shares plummeted 15%, while shares of U.S.-based solar panel manufacturer FirstSolar (FSLR) sank 8.5%.
• Shares of luxury lifestyle firm Ralph Lauren (RL) fell 5.8%. Although the apparel designer has been focusing on enhancing its digital and direct-to-consumer sales, the company faces macroeconomic challenges and elevated operating expenses.

-澳洲幸运5官方开奖结果体彩网:Michael Bromberg

Tesla Rises as Musk Says He Requested Robotaxi Design

Tesla (TSLA) shares finished Monday higher as CEO Elon Musk said澳洲幸运5官方开奖结果体彩网: the EV maker delaye𝐆d its robotaxi debut event because he requested a design change.

Musk confirmed the delay of Tesla's highly anticipated robotaxi event, 澳洲幸运5官方开奖结果体彩网:originally scheduled for Aug. 8, after reports that it would be postponed to October. He wrote on the social-media site X Monday that he reques💝ted "what I think is an important design change to the front."

Musk said the ti꧅me would also allow Tesla engineers to add more features to the vehicle. A 𝕴new date was not provided.

Investors will be watching for further details on the event and Tesla's plans when the company reports second-quarter earnings July 23.

Shares of Tesla gained 1.8% on Monday and have closed higher in 13 of the last 14 trading sessions, boosted in large part by better-than-expected second-quarter 澳洲幸运5官方开奖结果体彩网:production and delivery numbers.

-澳洲幸运5官方开奖结果体彩网:Aaron McDade

Bitcoin Momentum Seen Helped by Election Outlook

Bitcoin (BTC) was 澳洲幸运5官方开奖结果体彩网:back above $63,000 for the first time in two weeks on Monday, u🔯p more than 15% from the✨ lows of last week.

Some of that price momentum is likely associated with the viewpoint that the re-𒀰election of formꦑer President Donald Trump, who has lately become viewed as a stronger supporter of cryptocurrency, is more likely.

 Trump has indicated h𓄧e will attend a bitcoin confere♛nce in Nashville later this month, according to conference organizers.

“Bitcoin’s price is positively correlated with the probability of a Trump Presidency and will remain sensitive to election updates,” said analysts from brokerage firm Bernstein in a report, according to The Block.

 The rep⛎ort also offered upbeat scenarios for bitcoin-mining stocks🌌, including their diversification into artificial intelligence.

Crypto-related stocks also saw gains in trading Monday. MicroStrategy (MSTR), one of the largest corporate bitcoin investors, saw its shares rise more than 16% while Coinbase (COIN) and miner Marathon Digital (MARA) shares jumped 11% and 18%, respectively.

-澳洲幸运5官方开奖结果体彩网:Kyle Torpey

SolarEdge Stock Slides Amid European Solar Slowdown

SolarEdge Technologies (SEDG) is 澳洲幸运5官方开奖结果体彩网:cutting 400 employees from its workforce owing to an inventory backlog and 澳洲幸运5官方开奖结果体彩网:declining revenue, according to a 澳洲幸运5官方开奖结果体彩网:Secu𒉰rities and Exchange Commission (SEC) filing Monday.

SolarEdge shares were down mo🌊re than 14% in late-afternoon trading Monday. The stock has given up about 70% of its value so far this year.

Half the job cuts will occur in Israel, 🦋where the company is based. The company had 5,633 employees as of Dec. 31, 2023.2

In a letter to employees, 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer Zvi Lando cited “an accumulation of excess inventory,” adding that solar installation ra✱tes are rising slower than expecte🗹d in Europe. 

-澳洲幸运5官方开奖结果体彩网:Andrew Kessell

Apple Hits New High Amid AI-Fueled Optimism

Apple (AAPL) stock 澳洲幸运5官方开奖结果体彩网:touched a record high in intraday trading Monday as the tec🦩h giant received price-target increases from analysts who cited the company's strong position for the future of artificial intelligence (AI) use on s🐼martphones.

Analysts from Loop Capital upgraded Apple stock to "buy" from "hold," while bumping their 澳洲幸运5官方开奖结果体彩网:price target to $300, from $170 previously.

Loop analysts drew a comparison Monday to how the first iPods went on to make Apple the dominant force in music and digital content and how the first iPhones coincided with the rise of 澳洲幸运5官方开奖结果体彩网:social media. Similar to those advances, the analysts wrote that Apple's new AI-powered iPhones and iPads could make Apple the 澳洲幸运5官方开奖结果体彩网:generative AI "base camp" for users as the devices' generative AI services grow more powe❀rful.

The rise of digital content and social media were "material stock catalysts" that helped Apple's stock rise substantially over time, and Loop analysts said generative AI could be a similar driving force.

Apple share❀s were up 1.8% at $234.75 in recent trading, after rising to an all-time hig꧑h of $237.23 early in the session.

-澳洲幸运5官方开奖结果体彩网:Aaron McDade

Macy's Stock Plunges After Buyout Talks End

Shares of Macy's were down some 12% after the retailer said it 澳洲幸运5官方开奖结果体彩网:had ended talks with would♒-be buyers Arkhouse Management and Brigade Capital Management.

The announcement comes after the activist investors recently upped their offer by about $300 milliꦦon to $6.9 billion.

-澳洲幸运5官方开奖结果体彩网:Andrew Kessel

Trump Media Stock Jumps After Shooting

Shares of Trump Media & Technology Group jumped in the 澳洲幸运5官方开奖结果体彩网:first trading session since Saturday’s attempted assassination of🐭 former President Donald Trump at a 🐈rally in Pennsylvania. 

Stock in the company, which owns the Truth Social social-media platform, wa🐼s recently up more than 30%, somewhat below morning highs.

-澳洲幸运5官方开奖结果体彩网:David Marino-Nachison

Cleveland-Cliffs Stock Rises After News of Stelco Deal

Shares of Cleveland-Cliffs rose Monday following the news that 澳洲幸运5官方开奖结果体彩网:it agreed to acquire Canadian steelmaker Stelco Holdings.

The cash-and-stock deal is valued at about $2.5 billion. Cleveland-Cliffs' shares were recently up about 0.5%

-澳洲幸运5官方开奖结果体彩网:Andrew Kessel

Google Price Levels to Watch as Company Eyes $23B Deal

Alphabet shares are in focus on Monday after The Wall Street Journal reported Sunday that the Google parent i𒐪s in advanced discussions to acquire cybersecurity startup Wiz for around $23 billion.

The stock climbed to a record high last Wednesday, but closed lower for the week, potentiall🔥y setting the stage for a retracement.

The Alphabet share price could find support at key levels on the chart including $175, $150, and $134. A bars pattern that takes the stock’s upward move between March last year and January this year and overla🅺ys it from the March swing low projects a longer-term price target around ꩲ$215.

A⛄lphabet shares were down 0💝.2% at $186.31 in pre-market trading.

Read the full 澳洲幸运5官方开奖结果体彩网:technical analysis on Alphabet shares here.

-澳洲幸运5官方开奖结果体彩网:Timothy Smith

Blackrock Assets Reach Record $10.6 Trillion

BlackRock reported 澳洲幸运5官方开奖结果体彩网:a record $10.6 trillion in assets under management in its second-quarter ear🐻nings report Monday, as profi♏ts and revenue rose year-over-year.

BlackRock's second-quarter revenue rose 8% from a year ago to $4.81 billion, while net income was up 9% at $1.5 billion, or $9.99 per share. 

-澳洲幸运5官方开奖结果体彩网:Aaron McDade

Stock Futures Pointing to Higher Open

Fut🍌ures tie🎐d to the Dow Jones Industrial Average were up 0.6%.

S&P 500 futures were up 0.5%.

Nasdaq 100 futures gained 0.6%.