Biggest S&P 500 Movers on Monday

Advancers

• Bloomberg reported that Intel (INTC) inked a deal with the federal government to produce semiconductors for the U.S. military, and the chipmaker later confirmed it is eligible to receive up to $3 billion in government funding as part of the 2022 Chips and Science Act. Intel shares surged 6.4%, the top daily performance of any S&P 500 stock.

• Bath & Body Works (BBWI) shares jumped 6.2% on Monday. The gains marked a partial recovery for the stock, which has been under pressure since late August, when the retailer of fragrance and personal care products noted the impact of soft consumer spending and lowered its sales forecast. Late last week, Bath & Body Works announced plans to hire more than 30,000 seasonal associates for the holidays, suggesting optimism ahead of the critical season.
  
• Oracle (ORCL) shares jumped 5.1%, notching an all-time high, after a pair of investment research firms highlighted the software giant's strength in the cloud computing business. Melius Research upgraded Oracle stock to buy, noting Oracle's partnerships with the "big three" cloud providers could help ensure the sustainability of its pipeline and alleviate margin pressure. Jefferies analysts boosted their price target on Oracle stock to $190, citing backlog growth and strength in Oracle Cloud Infrastructure (OCI) as a signal that the company "is getting its mojo back."

Decliners

• Analysts from several Wall Street firms said early pre-order data for Apple's (AAPL) iPhone 16 澳洲幸运5官方开奖结果体彩网:appeared underwhelming compared with last year's iPhone 15 launch, noting higher U.S. supply and lower demand are contributing to shorter delivery times for the new version of the smartphone. The news pressured shares of Apple, which fell 2.8% on Monday, as well the tech giant's suppliers.
• Shares of Qorvo (QRVO), which provides radiofrequency chips and antenna components for the iPhone, plunged 6.7%, the steepest decline of any stock in the S&P 500 on Monday. Shares of Skyworks Solutions (SWKS), which supplies radio-related chips for Apple's smartphones, fell 5.1%.
• Elsewhere in the semiconductor industry, analysts at Morgan Stanley reduced their price target on shares of Micron Technology (MU), pointing to oversupply in the memory-chip market. Micron shares slipped 4.4%

-澳洲幸运5官方开奖结果体彩网:Michael Bromberg

Oracle Surges to a Fresh Record

Oracle (ORCL) shares jumped to a record high on Monday, after 澳洲幸运5官方开奖结果体彩网:a pair of investment firms comm♏ended the software giant's advancements and opportunities for growth in the 澳洲幸运5官方开奖结果体彩网:cloud computing market.

In a note to investors published over the weekend, Jefferies analysts increased their 澳洲幸运5官方开奖结果体彩网:price target on Oracle stock to $190 from $170. Analysts at Melius Research followed suit on Monday, upgrading their rating on Oracle shares to "buy."

Jefferies analysts said Oracle "is getting its mojo back." The team highlighted the increasing competitiveness and accelerated adoption of Oracle Cloud Infrastructure, noting strong growth in Oracle's backlog as a driver of revenue strength.

Meanwhile, analysts at Melius also focused on revenue growth acceleration, as well as the successes of Oracle CEO Larry Ellison in pursuing strategic partnerships and building a cloud platform that prioritizes 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI).

In particular, Melius believes Oracle's partnerships with the "big three" cloud providers—Amazon's (AMZN) Amazon Web Services, Microsoft's (MSFT) Azure, and Alphabet's (GOOGL) Google Cloud Platf💙orm—could help ensure a sustainable pipeline for the cloud business and alleviate margin pressure.

Oracle shar𓄧es gained 5.1% on Monday t𒆙o close at $170.33.

-澳洲幸运5官方开奖结果体彩网:Michael Bromberg

Apple Falls Amid Concerns About Early iPhone 16 Sales

Early Wall Street feedback on demand for Apple's newest iPhone suggests the newest models might not be flying off the shelves.

Analyzing delivery lead times and whether 澳洲幸运5官方开奖结果体彩网:models of the iPhone 16 will be available in stores on Friday as scheduled, several analysts said Monday that early indications appear disappointing for Apple's (AAPL) 澳洲幸运5官方开奖结果体彩网:latest smartphone.

Analysts from J.P. Morgan, Jefferies, Barclays, and Bank of America on Monday said that iPhone 16 pre-orders, 澳洲幸运5官方开奖结果体彩网:which started Friday, are seeing shorter estimated delivery times than🐭 last year's new iPhone 15s. That's likely due to factors including both higher U.S. supply and lower demand, the analysts said.

Analysts were largely positive on the long-term 澳洲幸运5官方开奖结果体彩网:upgrade cycle that the iPhone 16 should kick off, especially once the 澳洲幸运5官方开奖结果体彩网:AI features that were central to the launch event are rolled out.

Apple shares fell 2.8% on Monday. The tech giant also received FDA approval for the 澳洲幸运5官方开奖结果体彩网:sleep apnea detection feature ꦫin its newest smartwatch operating system on Monday.

-澳洲幸运5官方开奖结果体彩网:Aaron McDade

Micron Slides as Morgan Stanley Warns About Memory Chip Sector

Micron Technology (MU) stock was one of the biggest decliners in the 澳洲幸运5官方开奖结果体彩网:S&P 500 Monday aﷺfter Morgan Stanley slashed its priܫce target to $100 from $140 and gave a downbeat assessment of the memory chip sector.

The bank warned that although it's difficult to predict cyclical peaks, "both 澳洲幸运5官方开奖结果体彩网:NAND and DRAM are losing stꦆeam, and our inflection signposts s👍uggest chillier conditions from here."

The analysts wrote in a report to clients that while memory chip demand is still moving up, "the rate of change is approaching a peak as supply catches up to demand."

Micron shares were down 4.5% in recent trading and were among the big decliners in the Nasdaq Composite and S&P 500. With Monday's decline, the stock is near unchanged since the start of the year.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

Zillow Rises Following Upgrade Amid Rate-Cut Optimism

Zillow Group (Z) is well positioned to benefit from lower U.S. 澳洲幸运5官方开奖结果体彩网:mortgage rates, Wedbush analysts said Monday.

The firm upgraded the online real estate marketplace to "outperform" from "neutral," and raised its price target to $80 from $50.

Shares of Zillow rose more than 5% Monday afternoon and are up about 50% since Aug. 7, when it reported better-than-expected 澳洲幸运5官方开奖结果体彩网:second-quarter results and named a new CEO.

-澳洲幸运5官方开奖结果体彩网:Andrew Kessel

Intel Leads Dow Higher After Report of Pentagon Chip Deal

Shares of Intel (INTC) advanced Monday, aided by a report that th⭕e semiconductor maker received a multibillion-dollar award from the Pentagon to make chips for the U.S. military. 

Bloomberg reported late Friday that Intel qualified for $3.5 billion in federal grants as part of the Secure Enclave program, which is designed to produce advanced chips for military and intelligence applications. According🎉 to people familiar with the matter, the announcement of the funding could come as early as this🐎 week.

The new contract comes on top of a potential $8.5 billion in grants and $11 billion in loans that Intel was awarded in March under the 澳洲幸运5官方开奖结果体彩网:CHIPS and Science Act of 2022,🌜 which is aimed at revitalizing U.S. semiconductor manᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚufacturing and limiting reliance on Asia.

Intel didn't immediately respond to Investopedia's request for comment Monday.Intel has 澳洲幸运5官方开奖结果体彩网:struggled of late as rivals making AI chips🌄 ate into its market share. Intel recently reported wider-than-anticipated losses, slashed jobs, and has watched its stock price tumble.

Intel shares were up about 4% in recent trading, leading Dow gainers on Monday. Despite the gain, the stock is down nearly 60% so far in 2024.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

Bausch + Lomb Jumps Amid Report of Possible Sale

Bausch + Lomb (BLCO) shares popped Monday following a report that the eyecare company is 澳洲幸运5官方开奖结果体彩网:considering a sale.

The contact lens producer is working with Goldman Sachs (GS) on a deal that would see it separated from its severely indebted parent Bausch Health Cos. (BHC), the Financial Times r✤eported Saturday. Bausch + Lomb was spun off from Bausch Health in 2022.2🐬

Bausch + Lomb’s enterprise value including debt was at just over $10 billion as of the market close Friday, the report said.

Shares of Bausch + Lomb rose nearly 14% intraday Monday, and Bausch Health stock climbed 7%.

-澳洲幸运5官方开奖结果体彩网:Andrew Kessel

Alcoa Shares Rise After Company Sells Stake in Saudi JV

Shares of Alcoa (AA) jumped Monday as 澳洲幸运5官方开奖结果体彩网:the aluminum giant said it was selling its 25.1% stake in a joint venture 💃with Saudi 𝓀Arabia Mining Co., known as Ma’aden.

Alcoa said the transaction will net it $1.1 billion in Ma’aden stock and cash. That includes approximately 86 m🐻illion Ma’aden shares valued at about $950 million. It requires Alcoa to hold the shares for a minimu🌌m of three years.

🅘 Alcoa shares, which have risen for four consecutive sessions, were up about 7% in recent trading. The shares are up about 20% over the past year.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

Berkshire Hathaway Price Levels to Watch

Shares of Warren Buffett's Berkshire Hathaway (BRK.A, BRK.B) were moving higher Monday after retreating in recent weeks from from a record high set earlier this month that saw the company's 澳洲幸运5官方开奖结果体彩网:market capitalization briefly 澳洲幸运5官方开奖结果体彩网:surpass $1 trillion for the first time.

During the stock's recent decline, trading volumes have decreased, indicating slowing selling momentum.

Investors should monitor important lower price levels in Berkshire Hathaway 澳洲幸运5官方开奖结果体彩网:Class B shares at $446, $421, and $398, while watching the $480 area if the sto🐻ck resumes its longer-term uptrend.

Read our full 澳洲幸运5官方开奖结果体彩网:technical analysis piece here.

-澳洲幸运5官方开奖结果体彩网:Timothy Smith

Major Indexes Back Near End-August Levels

The S&P 500, Nasdaq Composite and Dow Jones Industrial Average have recovered almost all of the ground lost during an early-September swoon. The major indexes are all less than 1% away fro🎉m where they finished last month.

Nvidia Price Levels to Watch

Nvidia (NVDA) shares are down in premarket trading after surging 16% last week, when investors snapped up a recent dip in the stock following 澳洲幸运5官方开奖结果体彩网:favorable Wall Street commentary pointing to continuing growth opportunities amid insati♑able demand for AI infrastructure.

The stock has rallied towards the top trendline of a descending chaℱnnel, though the move has occurred on lackluster volume, indicating a lack of instiꦑtutional activity.

Investors should monitor key overhead price levels on Nvidia's chart at $126, $136, and $166, while watching important lower price levels at $97 and $75.

Read our full 澳洲幸运5官方开奖结果体彩网:technical analysis piece here.

-澳洲幸运5官方开奖结果体彩网:Timothy Smith

Futures Tied to Major Indexes Mixed

Futures tied to the Dow Jones Industri🎶al Average were up 0.3%.

S&P 500 futures were down fractionally.

Nasdaq 100 futures were off 0.4%.