Top Stock Movers Now: Broadcom, AMD, ResMed, and More

Key Takeaways

Major U.S. indexes were mixed at midday Monday to start the
holiday-shortened trading week
. The markets will
close early Tuesday
for Christmas Eve, and remain closed on Christmas. The Dow was lower, while the S&P 500 and Nasdaq gained.

Chip stocks advanced, led by Broadcom (

AVGO

) after UBS analysts raised their price target for the stock, citing the chipmaker’s
artificial intelligence (AI)
revenue growth. Advanced Micro Devices (

AMD

) shares also surged after Rosenblatt analysts called it a “top pick” on its AI-driven potential.

Tesla (

TSLA

) shares gained after Barclays analysts suggested the electric vehicle (EV) manufacturer could report better-than-expected deliveries for the fourth quarter.

Shares of Xerox Holdings (

XRX

) rose after the office products maker
purchased rival Lexmark International for $1.5 billion
.

Shares of sleep apnea machine maker ResMed (

RMD

) slumped after the
Food and Drug Administration (FDA)
approved Eli Lilly’s (

LLY

) weight-loss treatment Zepbound to
treat some sleep apnea patients
. Eli Lilly shares climbed.

Shares of Nordstrom (

JWN

) fell after the retailer announced it is being
taken private
by its founding family and a Mexican retail group.

Oil and gold futures fell. The yield on the 10-year Treasury note was up. The U.S. dollar was higher versus the euro, pound, and yen. Prices for most major cryptocurrencies were lower.

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