The stock market is trading higher Monday. The S&P 500 climbed 0.26% and the tech-heavy Nasdaq Composite added 0.21%. The Dow Jones Industrial Average gained 0.14%, while the Russell 2000 Index lost 0.21%.
Bernstein’s data now signal rising earnings headwinds at GM, analysts said.
S&P 500 big stock movers today
Five S&P 500 stocks making big moves are:
Vistra (VST) +4.7% Tesla (TSLA) +4.6% Albemarle (ALB) +3.7% Tapestry (TPR) +3.4% Intel (INTC) +3.4%
The worst-performing five S&P 500 stocks with the largest drop at last check:
Regeneron Pharmaceuticals (REGN) -3.7% Moody’s (MCO) -3.2% CSX (CSX) -2.7% Ross Stores (ROST) -2.2% General Motors (GM) -2.2%
Stocks also worth noting include:
Apple (AAPL) -0.7%Micron (MU) +3%Constellation Energy (CEG) +1.6%Palantir (PLTR) +2.3% Boeing (BA) +2.1%
Intel higher after potential multibillion-dollar investment
Intel’s stock climbed 3.4% following reports that Apollo Global Management is considering an equity-like investment of up to $5 billion in the company, according to a Bloomberg.
The investment could prevent Intel from being taken over by Qualcomm. CNBC confirmed last week that Qualcomm had recently reached out to Intel regarding a potential takeover.
Intel stock is down more than 50% year to date.
Related: Analysts revamp Intel stock price targets on post-earnings collapse
General Motors falls after analyst downgrade
General Motors lost 2% following Bernstein’s downgrade to market perform from outperform with a $53 price target.
The analyst said in a research note that “Bernstein’s data now signals rising earnings headwinds,” according to thefly.com.
Bernstein expects ongoing inventory growth in the U.S. to pressure prices next year, slow the rollout of electric vehicles, and increase autonomous-vehicle producer Cruise’s losses. Challenges in GM’s international markets are also growing, according to the analyst.
Related: Analysts revamp GM stock price targets after union deal, buyback
Constellation rises after analyst update
Constellation Energy stock gained 2% after analysts from Jefferies, Evercore ISI, Wells Fargo, and Morgan Stanley raised share price targets.
Last week, Constellation announced plans to restart the Three Mile Island nuclear plant, with Microsoft agreeing to buy electricity from it under a 20-year deal to power its data centers. This marks Constellation’s largest power purchase agreement to date.
Morgan Stanley raised Constellation Energy’s price target to $313 from $233 and kept an overweight rating.
More Wall Street Analysts:
Analyst says Intel should drop a key business to surviveAnalysts adjust Bookings.com stock price target on travel marketAnalysts place bets on Las Vegas strip casino stocks
The analyst said the deal with Microsoft was at “a premium price” and proved the value of nuclear power for hyperscalers with higher prices possible for future deals, according to thefly.com. The hyperscalers are the major producers of cloud services and infrastructure.
Related: Veteran fund manager sees world of pain coming for stocks
