U.S. stocks closed lower on Monday, with the Dow Jones Industrial Average, S&P 500, and Nasdaq all experiencing declines. The Dow Jones declined by 0.7% to 38,380.12, while the S&P 500 dropped 0.3% to 4,942.81. The Nasdaq ended the day lower by 0.2% at 15,597.68.
Throughout the day, several stocks gained the attention of retail traders and investors. Here are some of the top performers:
1. Palantir Technologies Inc (PLTR) experienced a notable decline, closing down 1.76% at $16.72. However, the company reported a 20% increase in fourth-quarter revenue, reaching $608 million. This surpassed the consensus estimate, and the company’s outlook remains positive, with expected revenue between $612 million and $616 million for the first quarter.
2. NVIDIA Corp (NVDA) saw an impressive surge, closing up 4.79% at $693.32. Goldman Sachs raised its 12-month price forecast for NVIDIA to $800, highlighting the company’s dominance in the accelerated computing sector. Analysts remain optimistic about NVIDIA’s innovative capabilities and its strategic positioning for future growth.
3. Eli Lilly and Co (LLY) ended the day up 5.77% at $706.20. The market is eagerly awaiting the company’s fourth-quarter results and guidance, and investors are closely monitoring the potential impact of supply constraints on the availability of its weight-loss drug, Zepbound.
4. Symbotic Inc (SYM) reported a decrease of 1.68% to close at $49.60. The company announced mixed first-quarter financial results, with a slight miss on sales expectations but a positive outlook for the upcoming quarters. CEO Rick Cohen emphasized the company’s focus on innovation and growth.
5. Tesla Inc (TSLA) faced a downturn, closing down 3.65% at $181.06. Concerns over alleged illegal drug use by CEO Elon Musk and other board members have pressured the stock. However, Piper Sandler maintains a bullish outlook on the company’s long-term prospects.
It’s important to note that stock market performance can be influenced by various factors, including company news, market trends, and investor sentiment. Investors should conduct thorough research and consider their risk tolerance before making any investment decisions.
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