U.S. stocks traded lower at the end of trading on Monday with the Dow Jones Industrial Average declining 0.7% to 38,380.12 and the S&P 500 dropping 0.3% to 4,942.81. The Nasdaq ended Monday lower by 0.2% at 15,597.68.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Palantir Technologies Inc PLTR experienced a notable decline, closing down 1.76% at $16.72. Despite this, the company reported a 20% increase in fourth-quarter revenue, reaching $608 million and surpassing the consensus estimate. With significant growth in U.S. commercial revenue and a steady climb in government revenue. The company’s outlook remains positive, expecting revenue between $612 million and $616 million for the first quarter.
NVIDIA Corp NVDA saw an impressive surge, closing up 4.79% at $693.32. Goldman Sachs has raised its 12-month price forecast for NVIDIA to $800, highlighting the company’s dominance in the accelerated computing sector. This adjustment reflects a bullish stance on NVIDIA’s role in AI monetization and its significant market share growth in the Data Center Compute sector. Analysts remain optimistic about the company’s innovative capabilities and its strategic positioning for future growth.
Eli Lilly and Co LLY ended the day up 5.77% at $706.20, buoyed by the anticipation surrounding its weight-loss drug Zepbound. Despite no specific news driving the stock, the market is keenly awaiting the company’s fourth-quarter results and guidance. Eli Lilly’s strategic pricing and manufacturing expansions indicate a strong commitment to meeting the surging demand for its products. Investors are closely monitoring the potential impact of supply constraints on the availability of Zepbound in 2024.
Symbotic Inc SYM reported a decrease of 1.68% to close at $49.60. The company announced mixed first-quarter financial results, with a slight miss on sales expectations but a positive outlook for the upcoming quarters. CEO Rick Cohen emphasized the company’s focus on innovation and growth, aiming for increased profitability and deployment capacity. Symbotic’s shares reflected market reactions to these results.
Tesla Inc TSLA faced a downturn, closing down 3.65% at $181.06. Concerns over alleged illegal drug use by CEO Elon Musk and other board members have pressured the stock. Despite these challenges, Tesla remains a focal point for investors, with Piper Sandler adjusting its delivery estimates but maintaining a bullish outlook on the company’s long-term prospects.
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