Boeing’s 737 MAX
(Chona Kasinger/Bloomberg)
Stocks turned mostly positive Monday as Wall Street looks ahead to a week filled with U.S. inflation readings and the possibility of another government shutdown.
These stocks were making moves Monday:
Boeing
(BA) was up 4.5% after a report from Bloomberg said the Chinese government was considering lifting a commercial freeze for the plane maker’s 737 MAX jet later this week when President Joe Biden and China’s President Xi Jinping meet during the APEC Summit in San Francisco. Also boosting the stock was an announcement from Emirates at the Dubai Airshow that it would buy $52 billion of
Boeing
aircraft, while SunExpress, a joint venture of
Turkish Airlines
and
Lufthansa,
announced it would buy 90 737 MAX jets.
Tyson Foods
(TSN) was down 1% after fiscal fourth-quarter sales missed analysts’ expectations and the meat company issued a disappointing outlook for fiscal 2024.
Plug Power
(PLUG) was up 0.7% following a decline of 41% on Friday after the hydrogen fuel cell specialist raised “substantial doubt about [its] ability to continue as a going concern.”
Monday.com
(MNDY) was rising 12% after the work management platform raised full-year guidance.
Henry Schein
(HSIC) rose 6.2% even after the provider of dental and medical supplies missed analysts’ estimates on third-quarter sales and reduced its full-year guidance.
Illumina
(ILMN) fell 4.6% and was the worst performer in the
S&P 500
on Monday. The stock declined 8% on Friday after the DNA sequencing company said it expects revenue to fall between 2% and 3% in 2023, compared with previous projections for growth of about 1%.
Shares of
StoneCo
(STNE) were up 120% after the Brazilian financial services company on Friday reported third-quarter earnings that more than doubled and revenue that topped estimates.
Nvidia
(NVDA) rose 1% to $488.03 after the company unveiled its newest artificial-intelligence chip. The H200 Tensor Core GPU incorporates 141 gigabytes of memory and offers up to 60% to 90% performance improvements versus its current H100 model when used for inference, or generating answers from popular AI models.
Write to Joe Woelfel at [email protected]
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