U.S. stocks ended the day lower on Monday, with the S&P 500 and Dow Jones Industrial Average both experiencing declines. Information technology shares led the gains, while real estate shares took a hit. Spirit Airlines extended the deadline for its 2025 notes, Viad Corp announced the sale of its GES business, and several other companies saw significant stock price changes. European and Asian markets also saw mixed performance, with some notable economic developments in China.
Viad Corp (VVI) stock surged over 17% after announcing the sale of its GES exhibition services and experiential marketing business to Truelink Capital for $535 million. The move allows Viad to focus on its rapidly growing Pursuit attractions and hospitality segment, which is set to rebrand as Pursuit and trade under the new ticker symbol PRSU on the NYSE. The sale is expected to close by the end of 2024 and will see Viad use the proceeds to retire existing debt.
The Dow Jones fell by around 100 points on Monday, while other indices saw mixed performance. Construction Partners surged after announcing a major acquisition, while several other stocks recorded significant gains, driven by various positive developments. Ambipar Emergency Response, NANO Nuclear Energy, Viad Corp, EHang Holdings, AudioEye, Galiano Gold, AppLovin, TeraWulf, e.l.f. Beauty, and Lumen Technologies all experienced substantial gains. Read on to discover the details behind these noteworthy market movements.
