U.S. stocks closed lower on Monday to start the last week of the month.
The
Dow Jones Industrial Average
and
S&P 500
fell 0.2%. The
Nasdaq Composite
closed down nearly 0.1%.
These stocks made moves:
Shares in
Crown Castle
gained 3.4% to $107.15 in response to news that the owner of wireless towers was the target of renewed activist attention.
Elliott Investment Management said it has built a stake of about $2 billion. It said in a letter it made publicly available that it is pressing for leadership changes and for the company to consider selling its fiber-cable business. Elliott didn’t make much initial impact when it first took a position in
Crown Castle
in 2020.
iRobot
shares tumbled 17% after the European Commission said in a statement that it “has informed
Amazon
(AMZN) of its preliminary view that its proposed acquisition of
iRobot
may restrict competition in the market for robot vacuum cleaners.” On Friday, iRobot shares rose 39% on increased hopes
Amazon
was set to win full EU antitrust approval for its $1.4 billion acquisition.
Affirm Holdings,
a ‘buy now, payer later’ provider jumped 12%. According to Adobe Analytics, BNPL usage is expected to clock an all-time high on Cyber Monday.
Shopify
gained 4.9% after the e-commerce platform said it notched a 22% year-over-year jump in Black Friday sales.
Lucid Group
fell 1.2% after shares of the EV start-up were downgraded to Hold from Buy at Needham.
AMC Entertainment
shares dropped 1.2% after an unspectacular holiday weekend at the box office. Wish, the latest film from
Walt Disney,
fell short of expectations and landed third in the three-day box office rankings.
Nvidia
stock gained 1%. Shares closed 3% lower on Friday after Reuters reported the chip maker was delaying the launch of one of its new artificial-intelligence chips destined for China until the first quarter of next year.
Cybersecurity company
Zscaler
closed down 0.6% and was down another 6.3% in after-hours trading in response to its latest earnings report.
Reports are expected later in the week from
Salesforce,
Intuit,
Workday,
Snowflake,
CrowdStrike Holdings,
Splunk,
Hewlett Packard Enterprise,
NetApp,
Dollar Tree,
Okta,
Dell Technologies,
Marvell Technology,
UiPath,
and
Kroger.
Write to Emily Dattilo at [email protected], Joe Woelfel at [email protected] and Rupert Steiner at [email protected]
Read the full article here
