Stocks were mixed Monday at market close, losing some of the momentum from a rally last Friday to start a new week of trading.
These stocks made moves Monday:
Tesla (ticker:TSLA) stock continued its rally Monday, up 5.9%, despite continuing concerns with falling car demand and prices in the industry. 22V Research senior managing director and head of technical stock trading strategy, John Roque, told Barron’s that this rally could be an oversold bounce, meaning investors might believe that the stock could have fallen too quickly.
Bed Bath & Beyond (BBBY) hasn't filed for bankruptcy (yet), which looks to be keeping hopes alive among the few remaining bulls on the stock. Shares of the near-death retailer once shot up as much as 42% to $1.87 on Monday before giving back some of its gains to be up about 23.66% as of closing.
CinCor Pharma surged 144% to $28.74 after agreeing to be acquired by AstraZeneca (AZN) in a deal valued at about $1.8 billion. The offer price of $26 a share represents a 121% premium to CinCor’s closing price on Friday.
Albireo Pharma (ALBO) soared 92.2% to $43.85 after the rare disease company reached an agreement to be bought by French biopharmaceutical company Ipsen for $42 a share cash plus a contingent value right of $10 a share.
Duck Creek Technologies (DCT) agreed to be acquired by Vista Equity Partners for $19 a share in cash or $2.6 billion. The stock jumped 46.5% to $19.03.
Exact Sciences (EXAS) surged 24.7% after the cancer screening company announced preliminary fourth quarter financial results that were ahead of Wall Street expectations.
Paya Holdings (PAYA) soared 24.4% after Canadian fintech company Nuvei (NVEI) agreed to buy the payments company in an all-cash transaction for $9.75 a share, or about $1.3 billion. Nuvei shares were up 3.3%.
Crypto-related stocks climbedas the price of Bitcoin advanced to more than $17,000. Riot Platforms (RIOT) jumped 14.3%, Marathon Digital Holdings (MARA) climbed 19.8%, Coinbase Global (COIN) rose 15.1% and MicroStrategy (MSTR) was up 9.1%.
Lululemon Athletica (LULU) shares fell 9.3% after the athleisure-apparel retailer lowered its margin guidance for its fiscal fourth quarter.
Zillow (Z) rose 8% after shares of the online housing company were upgraded to Buy from Underperform at BofA.
Macy’s (M) dropped 7.7% Monday after the department store said fourth-quarter sales would come in at the low to middle end of its previously issued range from $8.16 billion to $8.4 billion, and warned that consumers will be pressured in 2023.
Regeneron Pharmaceuticals (REGN) dropped 7.7% after the medicine maker reported sales of its Eylea vaccine that were below what Wall Street was anticipating for the fourth quarter.