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Tesla, AMD And Amazon Lead The Nasdaq Lower Monday

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Tesla, AMD And Amazon Lead The Nasdaq Lower Monday

U.S. indices were trading higher Monday as May trading begins and as investors await earnings reports this week.

However, the Nasdaq fell for the day as several technology companies were trading lower, potentially amid a rotation out of the space and into reopening-related sectors. Investors also continue to weigh recent earnings reports in the sector.

  • The Invesco QQQ Trust Series 1 (NASDAQ: QQQ) closed lower by 0.53% at $336.19.
  • The SPDR Dow Jones Industrial Average ETF Trust (NASDAQ: DIA) finished higher by 0.64% at $341.11.
  • The SPDR S&P 500 ETF Trust (NASDAQ: SPY) closed higher by 0.22% at $418.20.

Here are the day's winners and losers from the QQQ, according to data from Benzinga Pro.

Several leaders for the QQQ were from e-commerce and biotech: eBay Inc (NASDAQ: EBAY), Amgen, Inc. (NASDAQ: AMGN) and Biogen Inc (NASDAQ: BIIB).

eBay shares traded higher by 4.23% after eBay's CEO discussed how the large online auction and transaction platform could play into the growth of non-fungible tokens… Read More

On the flip side, Tesla Inc (NASDAQ: TSLA), Advanced Micro Devices, Inc. (NASDAQ: AMD) and Amazon.com, Inc. (NASDAQ: AMZN) were among the most hammered names for the Nasdaq.

Elsewhere On The Street

Verizon Communications Inc. (NYSE: VZ) confirmed it has sold its Verizon Media assets, including the AOL and Yahoo platforms, to Apollo Global Management, Inc. (NYSE: APO) for $5 billion. Verizon will retain a 10% stake in the company and CEO Guru Gowrappan will retain the leadership role… Read More

Palantir Technologies Inc (NYSE: PLTR) made its public debut on Sept. 30, 2020, and IPO investors have significantly outperformed the market in the seven-plus months that have followed… Read More

Tilray, Inc. (NASDAQ: TLRY) and Aphria, Inc. (NASDAQ: APHA) have merged after months of negotiations, creating a company with a combined market cap of $3.3 billion… Read More

 

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