By Mackenzie Tatananni, George Glover, and Kit Norton
Stocks were mostly lower Monday as flaring tensions between the U.S. and Iran sparked uncertainty on whether a second round of cease-fire talks would take place.
These stocks were making moves:
Fermi sank 17% as the data-center developer announced the departure of CEO Toby Neugebauer and an overhaul of its board. Fermi has struggled to find a cornerstone tenant for its its Project Matador campus in Texas and remains unprofitable.
AST SpaceMobile declined 10% after the satellite maker suffered a setback in its plan for space-based broadband Internet. An AST SpaceMobile satellite being carried by a Blue Origin rocket was incorrectly positioned on Sunday and now must be taken out of orbit.
Marvell Technology advanced 5%. Alphabet's Google is in talks with the company to develop two custom artificial-intelligence chips, the Information reported Sunday, citing people with knowledge of the matter. Google and Marvell didn't immediately respond to requests for comment from Barron's. Shares in Broadcom, which earlier this month extended an AI chip design partnership with Google, declined 1.1%.
TopBuild surged 16%. Building products distributor QXO on Sunday said it would acquire the insulation company for $17 billion. TopBuild is one of the the largest distributors and installers of insulation in North America. QXO fell 8% on Monday.
AtaiBeckley surged 29%. The biopharmaceutical company and its smaller peers were benefiting from President Donald Trump's executive order Saturday fast-tracking the regulatory review of certain psychedelic drugs.
USA Rare Earth jumped 12% after the miner agreed to acquire Serra Verde, the owner of a rare-earth mine and processing plant in Brazil, for $2.8 billion in cash and stock.
American Airlines dropped 4.7% after the carrier denied it was engaged in talks with rival United Airlines regarding a potential merger. The threat of higher fuel costs also was weighing on airline stocks, with Delta Air Lines trading flat and United down 1.3%. Alaska Air Group reports first-quarter earnings after the closing bell.
Norwegian Cruise Line fell 4.9%, making it the worst-performing S&P 500 component, as uncertainty around the Strait of Hormuz continues. Travel stocks have been burdened by rising fuel costs since the start of the Iran war.
Chevron and Exxon Mobil added 0.9% and 1.2%, respectively, as stalling peace talks in the Middle East sparked a rebound in oil prices. Other oil and gas stocks posted gains: APA and Occidental Petroleum both gained 1.7% while Valero Energy advanced 1.5%.
Cleveland-Cliffs sank 6.6%. Although the steel producer logged higher revenue and a narrower loss in its latest quarter, CEO Lourenco Goncalves noted that the war in Iran hadn't helped "the timeline of a potential deal" with South Korea's POSCO.
Eli Lilly declined 0.8%. The pharma giant announced a $7 billion cash deal to acquire Boston-based Kelonia Therapeutics to bolster its position in the global cancer drug market.
Sandisk edged down 0.2%. The flash memory product supplier is joining the Nasdaq 100 on Monday. Atlassian, which is leaving the tech-heavy index, gained 2.7%.
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
April 20, 2026 10:12 ET (14:12 GMT)
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