Tesla was the biggest loser on the S&P 500 index Monday, followed by Extra Space Storage, Digital Realty Trust, Catalent and First Solar. Meanwhile, Marathon Oil, ConocoPhillips, APA, Hess and Halliburton were the S&P 500's biggest winners on the stock market today, as oil-related names dominated the upside.
How dominant? Humana was the 11th best S&P 500 stock Monday, the first one that wasn't an oil stock.
Tesla stock fell 6.1% on Monday, back below a 200.76 cup-with-handle buy point, according to MarketSmith analysis. Shares had broken out on Friday. TSLA stock did hold above its 50-day line on Monday. Tesla was one of the S&P 500's biggest winners in the first quarter, surging 68%.
The EV giant on Sunday reported record deliveries of 422,875 in the first quarter, fueled by global price cuts and new U.S. tax credits. That was below analysts consensus estimate of 431,000, according to FactSet, though Tesla did beat some analysts' estimates. Production exceeded deliveries yet again. Tesla will need further price cuts to maintain or boost deliveries.
EXR stock slumped 5.2% to 154.51 Monday after Extra Space Storage reached a deal to buy Life Storage for $12.7 billion stock in a deal that will forge the largest U.S. storage company. Life Storage had previously rejected a takeover bid from Public Storage. LSI stock rose 3.5%, with PSA stock up 1.8%
DLR stock declined 5.1% to 93.32. Digital Realty Trust is a REIT that operates data centers.
CTLT stock sank 4.25% to 62.92, back below the 50-day moving average. Barclays downgraded Catalent, which provides development and manufacturing services for drugmakers, to equal weight from overweight.
FSLR stock dimmed 4.1% to 208.49. Morgan Stanley downgraded First Solar to underweight, but it did nudge up the price target to 200 from 194.
S&P 500 Winners
Crude oil prices jumped 6.3% to $80.42 a barrel on Monday, following the surprise OPEC+ decision to cut production by 1.15 million barrels per day starting in May. That was the best one-day percentage gain in nearly a year. Oil stocks spiked.
MRO stock soared 9.9% to 26.33, reclaiming its 50-day and 200-day moving averages.
S&P 500 stocks COP stock leapt 9.3% to 108.42 and APA stock 8.7% to 39.20. Both reclaimed their 50-day lines and are slightly below their 200-day averages.
HES stock gapped up 8.4% to 143.51, clearing its 50-day line after retaking its 200-day last week.
HAL stock vaulted 7.8% to 34.10, popping above its 200-day line but still below its 50-day.
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