PRISM Market Momentum: Stocks on the Move on Monday; Caterpillar Climbs, McDonald’s Falls and Mattel Drops as Barbie Boost Ends
US equities are trading lower on Monday at midday trading, with small-caps under pressure. Big tech mixed today as Tesla ($TSLA) drops and Nvidia ($NVDA) outperforms. The session is also seeing strong performances from semis, refiners, large-cap pharma, P&C insurers, cosmetics, and protein. Industrial metals, chemicals, drug stores, utilities, airlines, homebuilders, and restaurants are underperforming. Treasuries are under pressure, the Dollar index is up +0.6%. Gold is down (0.7%), Bitcoin futures are down (0.8%) and WTI crude is up +0.4% in choppy trading.
Notable gainers at midday are Everbridge ($EVBG) which has gained +18.7% on news that it will be acquired by Thoma Bravo for $28.60 a share in cash valuing company at ~$1.5 billion, Bowlero ($BOWL) is up +17.1% on beating FQ2 revenue in spite of negative weather impacts in January and NAPCO Security Technologies ($NSSC) has risen +10.4% on strong FQ2 earnings. Caterpillar ($CAT) is up +1.7% after beating EPS in Q4.
The day’s decliners include Polestar Automotive ($PSNY) which is down (5.9%), Tesla ($TSLA) has lost (4.6%) after SAP SE ($SAP) announced it will stop using the company’s vehicles due to unpunctual deliveries and price fluctuations and McDonald’s ($MCD) which is off by (4.3%) on missing Q4 revenue. The company said US traffic fell as low-income consumers pulled back their spending. Mattel ($MAT) is down (2.9%) after being downgraded to neutral from overweight at JP Morgan due to softness in the toy industry and a shorter-than-expected Barbie sales boost duration.
