Here are some of the biggest movers of the day:
Stock gainers:
Shares of AMC Entertainment Holdings Inc.
AMC,
skyrocketed257% after a Delaware judge blocked the company’s plan to convert its APE preferred units into stock. CEO Adam Aron said Sunday that a revised proposal was submitted over the weekend, and warned that AMC faces the risk of financial collapse if it cannot raise more equity capital. The APE
APE,
unit price fell by 2.8%.
Mattel Inc. shares
MAT,
gained 2% after “Barbie” won the weekend’s box office crown with a massive $155 million in North American ticket sales, for Hollywood’s biggest opening of the year, as it and “Oppenheimer” helped generate the fourth-biggest box office weekend of all time.
Savers Value Village Inc.’s stock
SVV,
rose 2.7%, after analysts initiated coverage on the thrift store operator with a slew of buy ratings and bullish forecasts.
Johnson & Johnson’s stock
JNJ,
rose 1%, after it announced it would spin off at least 80.1% of shares of Kenvue, its consumer health are which went public in May, in an exchange offer. The move was expected after its earnings last week. Kenvue
KVUE,
was up 1.3%.
Comcast Corp.’s stock
CMCSA,
rose 1.1%as its Universal studio was behind “Oppenheimer,” which chalked up $80.5 million in receipts in its opening weekend in North America.
Imax Corp.’s stock rose 6%, after the big screen cinema operator said it garnered 20% of the total opening weekend receipts for the Christopher Nolan-helmed movie, its biggest-ever share of an opening weekend.
Nvidia Corp.’s stock
NVDA,
was up 0.8% after Mizuho analyst Vijay Rakesh said the company could unlock $300 billion in AI-related revenue by 2027, and boosted his price target on the stock to $530 from $400.
Stock decliners:
Gilead Sciences Inc. stock
GILD,
dropped 5% after the pharma company said it has ended a late-stage trial of a blood-cancer treatment.
Tesla stock
TSLA,
slipped 2%, as analysts at UBS downgraded the vehicle maker to neutral from buy.
Spotify Techology SA’s stock
SPOT,
slid 5.2%, after it confirmed plans to boost the prices of its Premium ad-free options in many markets.
Uber Technologies Inc.’s stock
UBER,
fell 0.5%, even as a Bernstein analyst said it’s cruising toward potential inclusion in the S&P 500 as soon as next year, and that makes its stock “hard to ignore,” according to an analyst.
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