Stocks closed up Monday while yields on long-term government bonds eased. Traders were looking ahead to a busy week for central banks.
Shares in chip-design company
(ticker: ARM) fell 4.5% to $58 after the company’s trading debut last week. Other chip makers were mixed:
(NVDA) was up 0.15%;
(INTC) rose 0.3%; and U.S.-listed shares of
Taiwan Semiconductor Manufacturing
(TSM) fell 0.5%.
(MU) rose 0.9% after being upgraded to Buy from Hold at Deutsche Bank.
(GM) was down 1.8%, Jeep owner
(STLA) fell 1.6%, and Ford (F) was off 2.1% as the United Auto Workers strike against the three auto makers played out. Negotiations between the union and GM,
and Ford resumed over the weekend. Shares of electric-vehicle pioneer
(TSLA) dipped 3%.
(NKLA) shares soared 34% to $1.59 after the electric heavy-duty truck start-up announced the appointment of Mary Chan, a managing partner at VectoIQ who helped with the public launch of
Nikola
,
as its chief operating officer. She will take over on Oct. 9.
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(PLNT) fell 3.6% following a downgrade to Hold from Buy at Jefferies. The stock tumbled 16% on Friday after fitness chain announced the departure of CEO Chris Rondeau and named a new interim CEO, effective immediately.
(LYFT) slid 4% after the Securities and Exchange Commission said that the ride-hailing company will pay a $10 million penalty because it didn’t disclose a large stock transaction prior to its initial public offering.
(DASH) closed flat after the food delivery service was upgraded to Buy from Neutral at
Mizuho
.
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(NTAP) was off 2%. William Blair downgraded the data-sharing software company to Market Perform from Outperform.
(PYPL) dropped 2%. MoffettNathanson downgraded the payments company to Market Perform from Outperform.
(CLX) dropped 2.4% after the cleaning products maker disclosed that a cyberattack, which it confirmed in mid-August, will weigh on its first-quarter financial results.
(SFIX) is scheduled to report quarterly earnings after the closing bell Monday. Reports are expected later in the week from
(FDX),
(GIS),
(AZO),
(KBH), and
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(DRI).
Write to Rupert Steiner at rupert.steiner@barrons.com and Emily Dattilo at emily.dattilo@dowjones.com
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Read More: Stock Market Movers: Arm Holdings, GM, Ford, Nikola, Lyft, and Clorox
