S&P 500 Biggest Movers on Monday

Advancers

• Shares of Super Micro Computer (SMCI) jumped 6.1%, notching Monday's top performance in the S&P 500. The stock recently came under pressure as short seller Hindenburg Research raised alarms about the server and data storage provider's accounting practices. But a report published Monday b, GlassHouse Research, a forensic accounting firm specializing in pinpointing fraudulent activities by public companies, downplayed Hindenburg's concerns.
• Airline stocks moved higher following positive comments on the air travel industry from BofA Securities. According to analysts, the airlines are poised to benefit from moderating domestic capacity, stable demand, and reduced fuel costs. BofA also upgraded JetBlue (JBLU) stock to "neutral," citing the carrier's progress on its strategic initiatives, and JetBlue shares soared 7.2%. United Airlines (UAL) shares added 6% on the day, while Delta Air Lines (DAL) and American Air Lines (AAL) both advanced 3.9%.
• Shares of human resources software provider Paycom Software (PAYC) were up 5.8%. With Monday's strong performance, the stock clawed back from a string of losses posted last week amid reports of CEO Chad Richison selling more than $600,000 worth of company stock. In its most recent earnings report, released at the end of July, recurring revenue growth helped Paycom beat profit expectations, leading the company to lift its full-year guidance and boost its stock buyback plan.

Decliners

• Enphase Energy (ENPH) shares tumbled 5.2%, the biggest loss of any S&P 500 constituent. Although analysts have indicated that interest-rate cuts could benefit the solar technology firm's international expansion plans, Enphase stock remains down more than 20% in 2024.
• Humana (HUM) shares fell 3.9% after investment bank Leerink Partners highlighted risks to the "Star ratings" of certain health care plans run by the insurer. The ratings assigned by the Centers for Medicare and Medicaid Services affect insurance providers' eligibility for quality bonuses.
• Shares of fragrance and personal care product retailer Bath & Body Works (BBWI) shares slipped 3.7%. The stock has been under pressure since the company lowered its sales guidance at the end of August, citing difficult consumer spending trends.

-澳洲幸运5开奖号码历史查询:Michael Bromberg

Airline Stocks Higher as BofA Upgrades JetBlue

Shares of major U.S. air carriers gained altitude on Monday after BofA Securities published upbeat comments on the industry and upgraded JetBlue Airways (JBLU) stock to "neutral" from "underperform."

JetBlue shares finished 7% higher Monday after the upgrade. Meanwhile, shares of rival United Airlines (UAL) were among the top performers in the S&P 500 on Monday, with a gain of 6%, as Delta Air Lines (DAL) and American Airlines (AAL) each added nearly 4%.

BofA said it believes the airlines are poised to benefit from an ongoing moderation in domestic capacity. Analysts expect domestic capacity growth to slow to ar⛎ound 2% in September through November, close to the slowest pace of the year and down from a peak of more than 6% in May and June.

Although airlines have struggled with pricing power this year, analysts say the capacity improvements—alongside expectations for stable demand—should help drive strong revenue trends across the industry. The possibility of lower fuel costs ahead represents another positive for the industry. Airlines might also be set for a seasonal uptick, as they tend to outperform in the fall.

-澳洲幸运5开奖号码历史查询:Michael Bromberg

Crypto-Related Stocks Surge as Bitcoin Recovers

Shares of cryptocurrency stocks, including Coinbase Global (COIN) and MicroStrategy (MSTR), rose Monday as the price of bitcoin  (BTCUSD) recovered from a late-Friday drop. 

The cryptocurrency traded near $57,00 Monday afternoon after dropping to about $52,600 on Friday. The 澳洲幸运5开奖号码历史查询:fluctuations have taken stocks tied to the cryptocurrency sector along for the൲ ride.

Shares of Coinbase, the cryptocurrency exchange operator, finished 5.2% higher on Monday, while MicroStrategy, a software company with 澳洲幸运5开奖号码历史查询:sizable Bitcoin holdings, surged 9.2%. Cleanspark (CLSK) and Marathon Digital (MARA), which 澳洲幸运5开奖号码历史查询:mine Bitcoin, both gained more than 9%.

Bitcoin’s recent struggles could be a sign of investors shying away from riskier assets after a 澳洲幸运5开奖号码历史查询:weaker-than-expected August jobs ⛄report came out Friday,ꦡ sparking renewജed fears of an economic slowdown.

-澳洲幸运5开奖号码历史查询:Andrew Kessel

New Starbucks CEO Took Over on Monday

Starbucks (SBUX) officially has a new chief executive officer as of Monday, as Brian Niccol joins the coffeehouse giant after announcing his departure from the 澳洲幸运5开奖号码历史查询:top job at Chipotle (CMG) ♛last month, with Starbucks looking to turn around its disappointing performance of recent ꧃quarters.

Niccol also will have to contend with pressure from activist investors who 澳洲幸运5开奖号码历史查询:recently have taken stakes in Starbucks and engaged with the company on plans to improve its stock price and sales, which have struggled 澳洲幸运5开奖号码历史查询:both in♒ the U.S. and internationally in recent quarters.

Analysts 澳洲幸运5开奖号码历史查询:largely cheered the move for Starbucks, with several stating that they believe Niccol was a key piece of Chipotle's succe🍸ss and significant growth during his tenure there as CEO.

Read the 澳洲幸运5开奖号码历史查询:full story here.

-澳洲幸运5开奖号码历史查询:Aaron McDade

Arm Rises on Report Its Tech Will Power iPhone 16

Arm Holdings (ARM) shares were more than 6% higher Monday after a report in the Financial Times said that the new iPhone 16 is expected to run on a chip based on 🎐the Armv9 CPU.ಌ

Arm’s chip designs are expected to play an important role in the IPhone’s 16 𒈔use of generative AI, 🍃the report said. 

Shares up Arm have gained more than 60% in 2024 thanks in part to the growth of Armv9 technology. Chips based on Armv9 technology made up roughly 25% of the firm’s royalty revenue in the 澳洲幸运5开奖号码历史查询:second quarter, up from 20% a quarter earlier.

-澳洲幸运5开奖号码历史查询:Andrew Kessel

Apple Expected to Unveil iPhone With AI Capabilities

Apple's (AAPL) "It’s Glowtime" event will kick off at 1 p.m. ET Monday, with the company widely expected to unveil the iPhone 16 supercharged with 澳洲幸运5开奖号码历史查询:artificial intelligence (AI) capabilities. Investors will also likely 🔯be watching for pricing and hardware differences in the new iPhone compared to previous models, and possible next-generation 🎐wearable products like AirPods and the Apple Watch.

AI-supercharged Siri is likely to be a key focus, with Apple's announcement for the event displaying the company's logo in the style of the 澳洲幸运5开奖号码历史查询:glowing aura 🌸ofಌ Apple's Siri interface.

Apple announced its newest operating system, iOS 18, and Apple Intelligence, at its 澳洲幸运5开奖号码历史查询:developer conference in June, where the company said the intelligent system will help Siri understand more natural sꦡpeech patterns, use personꦅal context from on-device content, and accept typed prompts, among other AI-powered capabilities.

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Summit Therapeutics Soars on Drug Trial News

Shares of Summit Therapeutics (SMMT) skyrocketed Monday, 澳洲幸运5开奖号码历史查询:rising to an all-time high after the biotech announced positive results from a♌ late-stage trial of its experimental lung cancer treatment.

Summit said the Phase-3 study, conducted in China, showed the drug ivonescimab ”demonstrated aꦜ statistically significant improvement in the trial’s primary endpoint” for certain patients with locally advanced or metastatic non-small cell lung cancer. 

The company said that ivonescimab reduced the risk of disease progression or death by 49% compared to🐻 other treatments.

Summit Therapeutics shares were up nearlไy 50% in recent trad𒀰ing.

-澳洲幸运5开奖号码历史查询:Bill McColl

Palantir Jumps on News of S&P 500 Inclusion

Palantir (PLTR) shares jumped  in premarket trading Monday following news that the big data analytics software company will join the ꩲbenchmark S&P 500 index, with the inclusion taking effect before the market opens on Sep𝓀t. 23.

The stock temporarily broke down below an ascending triangle last month, but promptly reversed above the pattern's top trendline to form a bear trap.

Palantir shares were up 8% at $32.75 in recent premarket🌠 trading.

Investors should monitor key overhead chart levels in Palantir shares at $32.70 and $34.75, while eyeing important retracem𝓡ent levels at $29 and $25.50.

Read our full 澳洲幸运5开奖号码历史查询:technical analysis piece here.

-澳洲幸运5开奖号码历史查询:Timothy Smith

Boeing Stock Surges After Union Deal

Boeing (BA) shares jumped in premarket trading Monday, a day after澳洲幸运5开奖🦄号码历史查询: the pl🐎ane maker announced a tentative agreement with two of its largest labor union partners.

The deal would see roughly 33,000 Boeing employees across Washington, Oregon, and California get raises of 25% over the next four years, along with other benefits like a revamped retirement savings program and parental leave, the company announ꧙ced Sunday.

The International Association of Machinists and Aerospace Workers members covered by the deal are set to vote on whether to ratify the four-year contract Thursday, when the current deal is set to expire. A strike could have started once the previous dea♕l expired, halting production at a number of facilities.

Boeing shares were 4.5% higher about two hours before the opening bell Monday, but are still down nearly 37% since the start of 2024 澳洲幸运5开奖号码历史查询:amid a series of 澳洲幸运5开奖号码历史查询:safety issues and 澳洲幸运5开奖号码历史查询:executive changes.

-澳洲幸运5开奖号码历史查询:Aaron McDade

Futures Point to Higher Open for Major Indexes

Futures 🐎tied to the Dow Jones Industrial Average🌠 were up 0.7%.

S&P 500 futures were also up 0.7%.

Nasdaq 100 futures were up 0.9%.