Top Stock Movers Now: Cleveland-Cliffs, Rockwell Automation, Onsemi, and More
Key Takeaways
U.S. equities were higher at midday, lifted by tech shares and steel and aluminum producers. The
Nasdaq
added 1%, and the
Dow Jones Industrial Average
and
S&P 500
were higher as well.
Shares of Nucor (
NUE
), Cleveland-Cliffs (
CLF
), and Alcoa (
AA
) were among the big winners after President Donald Trump said he would be slapping 25% tariffs on steel and aluminum imports.
Rockwell Automation (
ROK
) was the best-performing stock in the S&P 500 when the industrial automation firm beat profit estimates as orders rose.
Shares of Monday.com (
MNDY
) skyrocketed after the provider of business management solutions reported better-than-expected results and gave strong guidance on higher demand, boosted by the firm’s
artificial intelligence (AI)
solutions.
ON Semiconductor (
ON
), also known as Onsemi, shares slumped when the manufacturer of power chips missed earnings, revenue, and guidance estimates as it continued to face difficult market conditions.
Shares of Morgan Stanley (
MS
) fell following a report that said the bank had been surpassed by JPMorgan Chase (
JPM
) and Evercore (
EVR
) in financial advisory fees.
Semtech (
SMTC
) shares plunged after the semiconductor maker warned sales of its products used in active copper cables would underperform this year.
Oil and gold futures gained. The yield on the 10-year Treasury note slipped. The U.S. dollar advanced on the euro, pound, and yen. Prices for most major cryptocurrencies were higher.
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