The US stock market experienced a mixed performance on Monday, with the Dow Jones Industrial Average closing over 200 points higher. Despite the overall mixed trend, several companies saw significant price increases, fueled by positive news and announcements.
Alcoa Corporation (AA) was a standout performer, with shares surging 6.5% to $34.63. This gain was driven by the company’s announcement that it would sell its 25.1% joint venture stake in Ma’aden for $1.1 billion, including $950 million in Ma’aden shares.
Other notable gainers included Ascendis Pharma A/S (ASND), whose shares jumped 19.8% to $142.76 after revealing topline data from its pivotal approach trial of Transcon CNP (Navepegritide).
Bausch + Lomb Corporation (BLCO) saw a 15% increase in its share price, reaching $17.86. This rise followed Needham’s reiteration of a Hold rating on Bausch & Lomb.
Nuvalent, Inc (NUVL) experienced a 12.8% climb to $98.70, driven by strong results for its ROS1 and ALK-Positive NSCLC programs and an accelerated development timeline. The company also announced a $350 million public offering, and several firms raised their price targets for the stock.
Other significant gainers included Fitell Corporation (FTEL) at 12.5% to $17.75, JBDI Holdings Limited (JBDI) at 11.1% to $29.38, and Lattice Semiconductor Corporation (LSCC) at 10.3% to $49.46. Lattice Semiconductor’s gain was fueled by the appointment of Ford Tamer as CEO.
EchoStar Corporation (SATS) rose 8.4% to $26.33, boosted by Morgan Stanley’s upward revision of its price target from $14 to $20. Stratasys Ltd. (SSYS) saw a 7.9% increase to $7.61 after announcing a share repurchase program of up to $50 million.
Corvus Pharmaceuticals, Inc. (CRVS) gained 7.5% to $5.48, driven by the initiation of a registrational Phase 3 clinical trial of Soquelitinib for patients with relapsed or refractory peripheral T-cell lymphoma.
Viasat, Inc. (VSAT) rose 6.3% to $13.57, while Hertz Global Holdings, Inc. (HTZ) saw a 5.5% increase to $3.1650. Sprouts Farmers Market, Inc. (SFM) gained 4.2% to $106.42 following Evercore ISI Group analyst Michael Morris’ upgrade from In-Line to Outperform and a price target increase from $96 to $120.
