Top Stock Movers Now: Qualcomm, Keurig Dr Pepper, Newmont, Novartis, and More

Matthias Balk / picture alliance / Getty Images Qualcomm shares surged Monday after the chipmaker announced two new AI chips for data centers.

Key Takeaways

Major U.S. equities indexes climbed to fresh records in intraday trading Monday amid growing optimism the U.S. and China could strike a trade deal. Qualcomm shares jumped after the chipmaker unveiled two new AI chips for data centers. Shares of Newmont and rival gold miners slid along with the price of the precious metal.

Major U.S. equities indexes climbed to all-time highs in intraday trading Monday amid growing optimism the U.S. and China could strike a trade deal. The Dow, Nasdaq, and S&P 500 all set fresh records.

Qualcomm (QCOM) was the best-performing stock in the S&P 500 after the chipmaker announced it would release two new AI chips for data centers.

Shares of Keurig Dr Pepper (KDP) also jumped after the maker of soft drinks and coffee topped earnings estimates and lifted its outlook on strong sales in the U.S. and demand for its Ghost energy drinks.

Avidity Biosciences (RNA) shares rocketed higher after Novartis (NVS) agreed to buy the biopharmaceutical company in an all-cash deal valued at $12 billion as it moves to boost its neuromuscular disease-fighting pipeline. U.S.-listed shares of Novartis edged lower.

Shares of Newmont (NEM) and rival gold miners slid along with the price of the precious metal as demand for the traditional safe haven eased with signs of improving U.S.-China trade relations.

Huntington Bancshares (HBAN) dropped after the financial firm said it would pay $7.4 billion in stock for Cadence Bank (CADE). Shares of Cadence rose.

Shares of American Water Works (AWK) slid after the water and wastewater utility said it is buying rival Essential Utilities (WTRG) in an all-stock deal valued at $12 billion. Essential Utilities shares also declined.

Oil futures gained. The yield on the 10-year Treasury note was little changed. The U.S. dollar climbed versus the yen, but lost ground to the euro and pound. Most major cryptocurrencies traded higher.

Read the original article on Investopedia

View Comments