carnival (CCL), Catalent (CTLT), norwegian cruise line (NCLH), broadcom (AVGO) and Oracle (ORCL) is the top performer for the S&P 500 Index on the stock market today. Nasdaq (NDAQ), key corp (key), T Rowe Price (Trow), citizen finance (CFG) and CME Group (CME) was the biggest loser in the S&P 500 on Monday.
The S&P 500 rose 0.9% on Monday, surpassing its August 2022 high and hitting a 52-week high.
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CCL stock rose 12.45% to 14.72, its highest level in 13 months. The stock is now widening after surpassing the buy point of 12.62 last week. Bank of America upgraded Carnival to buy and raised its price target to 20 from 11, citing a surge in cruise demand.
CTLT shares surged 10.2% to 42.73 after Catalent’s long-delayed third-quarter results beat expectations. But Catalent slipped into the red due to financial difficulties, with revenue down 19%. Commissioned medical maker cut guidance. Catalent stock has plunged from its intraday high of 74.49 on March 3.
NCLH shares rose 7.2% to 18.41, above the cup-based buy point of 18.12 and hit a 52-week high. BofA has raised its price target on Norwegian Cruise Line from 17 to 19. (BofA also raised its price target in February.) Royal Caribbean (RCL) rose from 82 to 95. RCL shares, which have led cruise and travel stocks in recent weeks, surged 2.5% to an 18-month high. )
AVGO shares rose 6.3% to 855.36, a record closing price, but well below the peak of 921.78 on May 30’s reversal day. Broadcom shares have been in a tight three-week pattern, with the official buy point at an all-time high of 921.78. However, having cleared most of the pattern, existing holders may have been able to add a few shares.The European Union is expected to conditionally approve Broadcom’s operations VMware (VMW), Reuters reported on Monday.
AVGO stocks can be found on SwingTrader.
ORCL shares rose 6% to 116.43, a new all-time high. Wolfe Research expects strong guidance and an “AI narrative tailwind” to spur an increase in EPS multiples for the software giant, pushing Oracle stock above its 130 price target.
Post-closing, Oracle’s revenue exceeded guidance for the fourth quarter of the fiscal year, driven by rapid cloud-related growth. ORCL shares edged higher after hours.
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Losers of the S&P 500
NDAQ shares fell 11.8% to 51, near a 10-month low. The Nasdaq stock exchange operator is set to buy Thoma Bravo-owned software company Adenza for $10.5 billion, making it the largest acquisition in the company’s history. The Nasdaq is increasingly moving towards technology. Adenza’s software is used by banks and brokerage firms to help manage trading, risk management and post-trade processing.
KEY fell 4.3% to 10.22, below the 50-day line. CFO Clark Kayak said second-quarter net interest income (NII) is likely to be down 12% from the 4-5% he expected in the first-quarter earnings call. In particular, KeyCorp’s NII warning in March triggered this year’s local banking crisis.
KeyCorp’s warning on Monday took a toll on recovering local bank stocks.
TROW shares fell 3.3% to 110.16, below the 200-day line, after a four-day winning streak. Early Monday morning, T. Rowe Price reported that interim assets under management had fallen from $1.353 trillion at the end of April to $1.346 trillion as of May 31, amid net outflows of $9.6 billion. .
CFG shares fell 3.3% to 27.41. Citizens Financial also fell below 50 days, as did KeyCorp.
CME shares fell 3% to 179.35, breaking below the 200-day line.
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