Carnival, Catalent, Norwegian Cruise Line, Broadcom and Oracle were the top S&P 500 index gainers on the stock market today. Nasdaq, KeyCorp, T. Rowe Price, Citizens Financial and CME Group were the S&P 500's biggest losers on Monday.
The S&P 500 rallied 0.9% on Monday, clearing the August 2022 peak to set a 52-week high.
S&P 500 Winners
CCL stock surged 12.45% to 14.72, a 13-month high. Shares are now extended after moving above a 12.62 buy point last week. Bank of America upgraded Carnival stock to a buy and raised its price target to 20 from 11, citing a strong increase in demand for cruises.
CTLT stock jumped 10.2% to 42.73 after Catalent's much-delayed Q3 results came in better than expected. But Catalent swung to a loss and revenue tumbled 19% amid operational woes. The contract medical manufacturer cut guidance. Catalent stock is down sharply from an intraday high 74.49 on March 3.
NCLH stock leapt 7.2% to 18.41, moving above an 18.12 cup-base buy point and setting a 52-week high. BofA raised its Norwegian Cruise Line stock price target to 19 from 17. (BofA also raised its price target on Royal Caribbean to 95 from 82. RCL stock, which has led cruise and travel stocks in recent weeks, climbed 2.5% to an 18-month high.)
AVGO stock surged 6.3% to 855.36, hitting a record close, though well below the May 30 downside reversal day peak of 921.78. Broadcom stock has a three-weeks-tight pattern with an official buy point at that 921.78 all-time high. But existing holders could have added a few shares as it cleared the bulk of the pattern. The European Union is expected to give conditional approval of Broadcom's VMware acquisition, Reuters reported Monday.
AVGO stock is on SwingTrader.
ORCL stock jumped 6% to 116.43, a fresh all-time high. Wolfe Research upgraded Oracle stock to outperform with a 130 price target, expecting strong guidance and "AI narrative tailwinds" to spur a higher EPS multiple for the software giant.
After the close, Oracle earnings topped fiscal Q4 views, fueled by surging cloud-related growth. ORCL stock rose modestly after hours.
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S&P 500 Losers
NDAQ stock plunged 11.8% to 51, near a 10-month low. The Nasdaq stock exchange operator will buy Thoma Bravo-owned software firm Adenza for $10.5 billion, its biggest acquisition ever. Nasdaq increasingly is moving into technology. Adenza's software, used by banks and brokerages, helps manage trading, risk management and post-trade processing.
KEY lost 4.3% to 10.22, tumbling back below its 50-day line. CFO Clark Khayak said second-quarter net interest income (NII) is likely to fall 12% vs. the 4%-5% it forecast on the Q1 earnings call. Notably, KeyCorp's March NII warning helped trigger this year's regional bank crisis.
KeyCorp's warning Monday hit regional bank stocks, which had been recovering.
TROW stock slumped 3.3% to 110.16, back below the 200-day line after a four-day win streak. Early Monday, T. Rowe Price reported preliminary assets under management dipped to $1.346 trillion as of May 31 from $1.353 trillion at the end of April, amid net outflows of $9.6 billion.
CFG stock slid 3.3% to 27.41. Citizens Financial also dropped below the 50-day like KeyCorp.
CME stock slumped 3% to 179.35, undercutting the 200-day line.
Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more.
