Paramount Global, United Rentals, Hasbro, Adobe, and Walt Disney, are the S&P 500 index gainers on the stock market today. Dexcom, Johnson & Johnson, Baxter International Mettler-Toledo International and Agilent Technologies were the S&P 500's biggest losers on Monday.
The S&P 500 rose 0.15% on Monday, trading in a tight range right at 16-month highs.
PARA stock gapped up 4.6% to 16.03, breaking above its 50-day moving average but far below the 200-day line. It's not clear what buoyed Paramount Global and other media content giants, including Disney, Warner Bros. Discovery and Netflix. Paramount Global reports next week.
URI stock jumped 4.2% to 464.68. United Rentals stock has a cup-with-handle base with an official 471.82 buy point But it's actionable after breaking the downtrend in the handle, using Friday's high of 459.30 as the trigger point. On Thursday morning, United Rentals plunged to the 10-week line despite strong earnings, but rebounded to close down just 0.9%.
HAS stock rose 4.1% to 64.56, bouncing off the 50-day moving average and flirting with breaking the trendline of a handle. The official buy point is 65.69 in a consolidation going back to mid-January. Hasbro earnings are on tap early Thursday.
ADBE stock popped 3.3% to 546.17, hitting the highest point since January 2022. Morgan Stanley upgraded Adobe to overweight, citing increased confidence about its ability to monetize AI.
DIS stock rose 3.2% to 88.88, moving toward its sliding 50-day line. Shares hit 2023 lows in late July. Disney earnings are next week.
S&P 500 Losers
DXCM stock tumbled 5.9% to 124.56, undercutting the 50-day line and a prior 126.44 buy point. Dexcom stock has had a pattern of tumbling back to around the 50-day line, which has been trending higher for the past few months. On Friday, shares gapped up following strong earnings, to as much as 139.55, the best since the end of 2021. But DXCM stock came well off intraday highs.
JNJ lost 4% to 167.53, ending a seven-session win streak following earnings. A New Jersey bankruptcy judge again rejected Johnson & Johnson's bid to use a unit's bankruptcy to handle tens of thousands of talc-related lawsuits.
BAX stock fell 3.8% to 45.23, back below the 200-day line but above the 50-day. Late Friday, Baxter issued an urgent software fix for some Spectrum infusion pumps. Early Thursday, the medical products firm missed Q2 views and guided low.
MTD stock gave up 3.9% to 1,257.47, the worst close since early November. Mettler-Toledo reported mixed Q2 results late on July 27 and forecast slightly lower EPS in Q3.
Agilent stock retreated 3.4% to 121.77, back toward the long-sliding 50-day line.
Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more.
