By Mackenzie Tatananni and George Glover
Stocks were mostly lower Monday to kick off a week in which the Federal Reserve's monetary-policy decision likely will take center stage.
These stocks were making moves Monday:
Warner Bros. Discovery jumped 6.7% after Paramount Skydance launched a hostile bid for the entertainment company. The development came just days after Warner Bros. struck an agreement with Netflix. Paramount gained 4.9%, while Netflix tumbled 3.5%.
Meanwhile, President Donald Trump said Sunday that streaming giant Netflix's $72 billion deal to buy Warner Bros. "could be a problem" because it would give Netflix a much larger market share.
Tesla fell 2.3% to $444.60 following a downgrade at Morgan Stanley. Andrew Percoco, the bank's new analyst covering the electric-vehicle maker, downgraded the stock to Equal Weight from Overweight, pointing to slower EV adoption and a volatile trading outlook for the next 12 months. Percoco hiked his price target to $425 from $410.
Lucid Group dropped 5.6% to $12.67 after the fellow EV maker was downgraded at Morgan Stanley to Underweight from Equal Weight with a $10 price target, down from $30. Rivian Automotive also was downgraded with a $12 price target, sending shares down 3.2% to $17.31.
Confluent surged 29% to $29.74 after International Business Machines struck a deal to acquire the data-infrastructure company. IBM will acquire all of Confluent's issued and outstanding common shares for $31 a share, or an enterprise value of $11 billion. The transaction is expected to close by the middle of 2026, and is subject to approval by Confluent shareholders, the companies said. IBM stock slipped 1%.
Kymera Therapeutics soared 49% after the biopharmaceutical company released "positive results" from a Phase 1b clinical trial for KT-621, its anti-inflammatory drug candidate.
U.S.-listed shares of Structure Therapeutics skyrocketed 155%. Mid-stage data for the drugmaker's weight-loss drug candidate, released Monday, appared comparable to that of one of Eli Lilly's experimental treatments, orfoglipron.
Marvell Technology fell 9.3%. Benchmark Research downgraded the stock to Hold from Buy and withdrew its price target, citing a "high degree of conviction" that the company had lost both Amazon's Trainium 3 and 4 designs to Taiwanese rival Alchip Technologies.
CoreWeave fell 6%. The cloud computing company said it planned to offer $2 billion worth of convertible senior notes due 2031 in a private placement, with an option for initial buyers to purchase up to an additional $300 million.
Used-car retailer Carvana jumped 8%, building materials provider CRH gained 6%, and HVAC and plumbing company Comfort Systems USA climbed 2.7%. The three stocks will be joining the S&P 500 on Dec. 22, as part of the benchmark index's quarterly rebalancing, S&P Dow Jones Indices said Friday.
Auto parts provider LKQ rose slightly, chemical company Solstice Advanced Materials gained 1.3%, and flooring manufacturer Mohawk Industries declined 0.3%. All three stocks will be booted out of the S&P 500 as part of the reshuffling.
Major Bitcoin holder Strategy added 0.7%. The company disclosed Monday that it had acquired 10,624 digital tokens in the period between Dec. 1 and Dec. 7, for an aggregate purchase price of $962.7 million.
Homebuilder Toll Brothers is set to report earnings for its fiscal fourth quarter after the closing bell Monday.
Academy Sports & Outdoors, AutoZone, Campbell's, Casey's General Stores, Cracker Barrel Old Country Store, GameStop, Chewy, Adobe, Oracle, Synopsys, Ciena, Broadcom, Costco Wholesale, lululemon athletica, and RH are all expected to report earnings later this week.
Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com and George Glover at george.glover@dowjones.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
December 08, 2025 10:29 ET (15:29 GMT)
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