Biggest S&P 500 Movers on Monday

Advancers

• Super Micro Computer (SMCI) shares surged 28.7%, leading the S&P 500 higher on Monday. The volatile stock's latest jump came after Supermicro said an independent review committee had found 澳洲幸运5官方开奖结果体彩网:no evidence🌸 of accounting misconduct or f꧟raud. The server maker also announced changes to shore up its governance structure, including a new chief financial officer, chief compliance officer, and general counsel.

• Semiconductor equipment stocks extended gains posted late last week following reports that proposed restrictions on exports to China could be less stringent than previously anticipated. Lam Research (LRCX) shares added 6.3% on Monday, while Applied Materials (AMAT) stock was up 4.9%. 
• Shares of cruise operators notched gains following positive commentary on industry booking and pricing trends from analysts at Truist. Norwegian Cruise Line Holdings (NCLH) shares sailed 5.4% higher after Truist boosted its price target on the stock, indicating that the company appears to be on track to meet the implied sales guidance provided at its recent investor day. Shares of Carnival (CCL) and Royal Caribbean (RCL) also advanced.

Decliners

• Shares of Texas Pacific Land (TPL), which owns significant acreage in the oil-rich Permian Basin, sank 6.1%, losing the most of any S&P 500 stock. The stock enjoyed 澳洲幸运5官方开奖结果体彩网:a boost as it joined the S&a𝐆mp;P 500 in late November but has reversed those gains heading into December.
• PG&E shares (PCG) dropped 5% after the California-based electric utility holding company said it would raise $2.4 billion through public offerings of new common and mandatory convertible preferred stock. PG&E plans to use the proceeds from the offering for general corporate purposes, which could include funding its five-year capital investment plan.
• Natural gas prices moved lower as forecasts for milder winter weather raised questions about the key heating fuel demand. U.S. natural gas inventory levels heading into the winter are reportedly at their highest level since 2016. The price decline pressured shares of companies in the natural gas industry. Shares of pipeline operators Targa Resources (TRGP) and Oneok (OKE) fell 4.6% and 2.8%, respectively.

-澳洲幸运5官方开奖结果体彩网:Michael Bromberg

B of A Says Intel Break-Up Could Follow CEO Shake-Up

Intel (INTC) could break up its operations after 澳洲幸运5官方开奖结果体彩网:CEO Pat Ge🧸lsinger's sudden ret🦄irement w📖as announced Monday, according to Bank of America analysts.

The analysts wrote Monday that Intel's internal manufacturing business and the 澳洲幸运5官方开奖结果体彩网:foundry business that makes chips for other companies are now more likely to be separated, ꦡas the outgoing ✃CEO was a proponent of keeping them together.

Such a shake-up would still face a number of hurdles, like the strings attached to the nearly $8 billion in federal 澳洲幸运5官方开奖结果体彩网:CHIPS Act funding 澳洲幸运5官方开奖结果体彩网:announced last week. The BofA analysts said that the funding agreement dictates that Intel needs to ret🐻ain at least a 35% stake in its foundry b💞usiness.

"Both businesses are undergoing their own strategic, structural, financial, and competitive issues, with no near term solution in sight," the analysts wrote, maintaining their "澳洲幸运5官方开奖结果体彩网:underperform" rating and $21 price target on the shares. Intel's stock finished Monday 澳洲幸运5官方开奖结果体彩网:slightly lower at around $24.

While Intel shares have lost 澳洲幸运5官方开奖结果体彩网:more than half their value since the start of the year, some of the company's few bright spots have come from reports of 澳洲幸运5官方开奖结果体彩网:potential investments or 澳洲幸运5官方开奖结果体彩网:acquisition offers, or after 澳洲幸运5官方开奖结果体彩网:the chipmaker 澳洲幸运5官方开奖结果体彩网:sold pieces of some assets.

Bloomberg and Reuters reported Monday that Gelsinger met with the chipmaker's board last week over its concerns about the company's 澳洲幸运5官方开奖结果体彩网:turnaround effort and 澳洲幸运5官方开奖结果体彩网:its progress in catching up to 澳洲幸运5官方开奖结果体彩网:competitors like Nvidia (NVDA)—and allegedly waಌs given the choice to retire orꦕ be fired.

-澳洲幸运5官方开奖结果体彩网:Aaron McDade

Tesla Rises on Bullish Views From Analysts

Tesla (TSLA) shares surged again Monday as two analysts offered optimisඣtic outlooks for the electric ꦐvehicle maker.

Roth Capital Partners upgraded the stock to “buy” from “neutral,” setting a price target of $380, nearly $300 more than its previous position. In a note to clients, Roth said CEO 澳洲幸运5官方开奖结果体彩网:Elon Musk’s close relationship with President-elect Donald Trump will likely increase demand for Tesla vehicles.

Stifel also significantly lifted its price target, raising it $124 to $411 while maintaining a "buy" rating on the stock. The analysts, led by Stephen Gengaro, also pointed to Tesla’s self-driving technology, as well as its CyberCab robotaxi, according to reports.

The stock was recently up 4% at around $359, trading near its highest levels since early 2022. Wall Street's average price target is at near $280, according to Visible Alpha data.

Roth's report noted that it's anticipated Trump will 澳洲幸运5官方开奖结果体彩网:end the $7,500 federal tax credit for EV buyers, which “should indirectly benefit Tesla, 🌠as we expect mainline OEM competitors to continue their ret💙reat from the EV market.”

Roth said that it sees Tesla expanding its market share in the U.S., increasing its leadershꦅip in artificial intelligence, and benefiting from its position in the commercial ☂robotics field.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

MircoStrategy Buys More Bitcoin

MicroStrategy (MSTR) bought another $1.5 billion worth of bitcoin (BTCUSD) last week, the company said Monday.

With this latest purchase of 15,400 bitcoins, MicroStrategy now holds 402,100 total, which is just under 2% of the 21 million 澳洲幸运5官方开奖结果体彩网:total supply that will ever exist.

According to BitcoinTreasuries.net, MicroStrategy is the second-largest holder of bitcoin in the public markets behind BlackRock's iShares Bitcoin Trust (IBIT), which is a spot bitcoin 澳洲幸运5官方开奖结果体彩网:exchange-traded fund (ETF).

MicroStrategy continued its bitcoin buying spree, with this latest stash acquired at an average purchase price of $95,976 per bitcoin. Co🍰mpany🅠 chairman Michael Saylor teased the announcement on X over the weekend.

MicroStrategy shares were down nearly 1% in recent trading Monday, though they have gained a whopping 500% year-to-date. Bitcoin was trading 🔥at around $95,500, down from a 𒀰record high of near $100,000 set last month.

-澳洲幸运5官方开奖结果体彩网:Kyle Torpey

Gap Surges as JPMorgan Boosts Its View on Retailer

Gap (GAP) shares jumped roughly 7% Monday when JPMorgan upgraded the stock and lifted the price target, pointing to positive comments from the apparel retailer's CEO a༒nd CFO after a meeting with the bank's analysts.

JPMorgan raised its rating on Gap to "overweight" from "neutral," with a price target of $30, up from the previous $28. The stock was trading around $26 recently.

The analysts wrote in a note to clients that CEO Richard Dickson "characterized the company at an inflection point moving to 'continuous improvement' from 'fixing fundamentals.'" They added that Dickson's "consistency" plan is "built on a foundation of increased efficiency (i.e. inventory mgmt, marketing, operational savings) and flywheel reinvestment (ala best in class brands) to drive multi-year growth."

JPMorgan increased its estimate for 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) to $2.30 for fiscaﷺl 20🌠25 and $2.53 for fiscal 2026, both higher than Wall Street forecasts.

Shares of Gap are up about 24% this year, slightly lagging the S&P 500's gains over the period.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

Salesforce Price Levels to Watch Ahead of Earnings Report

Salesforce (CRM) shares are in the spotlight this week as the cloud software company is scheduled to release its 澳洲幸运5官方开奖结果体彩网:quarterly earnings report after the market closes on Tuesday.

The stock formed a textbook cup and handle patt🐠ern between November 2021 and November this year before breaking out above the bullish chart formation last month.

Investors should moniꦕtor important support levels on the Salesforce chart around $312, $270, and $232, while watching an upside price target at $500.

The stock was up💃 0.3% at around $331 iജn recent trading.

Read the 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

Supermicro Soars as Probe Finds No Accounting Wrongdoing

Shares of Super Micro Computer (SMCI) soared Monday after the troubled computer server🐎 maker𝐆 announced that an investigation found no misconduct in the company's accounting practices. It also said it will be replacing its finance chief.

Shares were up 25% in midday trading, leading S&P 500 gainers. The stock is up nearly 50% for the year, outpacing the gains of the S&P 500 over the period 🎃but still down abꦚout 70% from its all-time high of around $123 set in March.

The San Jose, Calif.-based firm said its independent special committee had finished its probe and its findings "did not raise any substantial concerns about the integrity of Supermicro's senior management or Audit Committee, or their commitment to ensuring that the Company's financial statements are materially accurate."

The accounting issues came to light when the company announced earlier this year it wasn't able to file its 澳洲幸运5官方开奖结果体彩网:Form 10-K for fiscal 2024 because of the accounting questions. That led to the Nasdaq threatening to delist the firm for not adhering to market requirements. In addition, Supermicro's auditor, EY, resigned, saying that it was "unwilling to be ass🅺ociated with the financial statements prepared by management."

Supermicro said that the independent special committee concluded that EY's reasons for leaving "were not supported by the facts examined in the Review." It added that it "does not anticipate any restatements of its quarterly reports for the fiscal year 2024 ended June 30, 2024, or for prior fiscal years."

Per the panel's recommendations, CFO David Weigand will be replaced as soon as a new CFO is appointed. The company noted the board has begun the process to fill that role.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

Stellantis Stock Sinks After CEO Resigns

Stellantis (STLA) shares sank after 澳洲幸运5官方开奖结果体彩网:the struggling carmaker said over the weekend that C꧅EO Carlos Tavares was stepping down, effective immediately.

The company that owns brands including Chrysler, Jeep, Fiat, and Peugeot said the process to appoint his replacement was “well underway.” It added that it expect🀅s to name a new company head in 2025, and until then, an interim executive committee would handle Tavares's duties. 

Senior Independent Director Henri de Ca♔stries said in a statement that “in recent weeks different views have emerged which have resulted in the Board and the CEO coming to today’s decision.”

Shares of Stellantis were recently off some 7% to their lowest point of the year. The stock has fallen nearly 50% since th𓂃e start of 2024.

The automaker has been battling weak sales and tough competition, especially from China. Some dealers have complained that a focus on cutting costs and keeping prices high have kept buyers out of showrooms. 

-澳洲幸运5官方开奖结果体彩网:Bill McColl

Intel Stock Rises as CEO Retires

Intel (INTC) said Monday that CEOꦆ Pat Gelsinger has stepped down, effective yesterday, with Intel naming two interim lead💖ers and starting its search for a permanent replacement.

The stock, which has lost about half its value since the start of t🔜he year, was up about 2% in early trading Monday.

Intel said it named David Zinsner, its CFO, and Michelle "MJ" Johnston Holthaus, who has been given the new title of Intel Products CEO, its co-CEOs on an interim basis.

Intel has already formed a search committee to find a perma♋nent replacement, the company said.

-澳洲幸运5官方开奖结果体彩网:David Marino-Nachison

S&P 500 Levels to Watch as Index at Record High

The S&P 500 (SPX) posted hit a new record high of 6,047 points in eaꦅrly trading Monday after posting its best month of the year⛄ in November.

As the index rose to all-time highs recenꦑtly, the relative streng♍th index recorded a comparatively lower higher to create a bearish divergence, a chart signal indicating slowing buying momentum.

During pullbacks, investors should watch key support levels on the S&P 500's chart around 5,870 and 5,670.

A meas📖ured move, which calculates the depth of a rising wedge near its widest point and ﷺadds that amount to the pattern’s upper trendline, forecasts a bullish price target in the index of 6,675.

Read the 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

Stocks Kick Off December After Best Month of the Year

The S&P 500 and Dow Jones Industrial Average rose 5.7% and 7.5%, respective🧔ly, in November, marking their biggest one-month gains of the year.

The Nasdaq Composite rose 6.2% last month, the best performance for the tech-heavy index since a 6.9% incr♎ease i💎n May.

So far in 2024, the Nasdaq is up 28%, while the S&P 500 has gained 26.5% and the Dow has added 19%.

Major Stock Index Futures Little Changed

Futures tied to the Dow Jones Industrial Average were d🥂own less than 0.1%.

S&P 5🌄00 futures were also down fractionally.

Nasdaq 100 futures were up slightly.