Robinhood's stock took a hit on Monday, falling more than 2% amid a turbulent trading session. Various stocks experienced significant shifts, with some companies seeing gains while others faced declines. Freshpet emerged as one of the day's winners, advancing over 8% following an upgrade from Jefferies, which moved its rating from hold to buy.
In contrast, Alibaba's shares plummeted 9%, reversing some of the 15.3% gain it achieved last week. The electric vehicle maker Rivian also faced a rough day, with its stock tumbling nearly 8% after Bank of America downgraded it from neutral to underperform. Other companies experiencing setbacks included Talen Energy and GE Vernova, both pulling back by 2%, and Vistra, which dropped nearly 4%.
Meta Platforms' stock experienced a decline of more than 1%, marking its fifth consecutive down day. Palantir's shares faced a sharp drop of 8.7% on Monday. Over the past five sessions, Meta has dipped roughly 10%, enduring its longest losing streak since August. Despite this downturn, Morgan Stanley upgraded Meta's stock to overweight from equal weight this week, citing accelerating cloud revenue growth as a positive factor.
On the positive side, Berkshire Hathaway's Class A shares jumped nearly 4%, buoyed by a strong earnings report that impressed investors. Meanwhile, Nike saw its stock gain more than 4% after Jefferies upgraded its rating to buy from hold, providing a boost to the company's market performance.
Domino's reported earnings of $4.89 per share on revenue of $1.44 billion, slightly missing analysts' expectations. FactSet analysts had anticipated earnings of $4.90 per share on revenue of $1.48 billion. Despite the slight miss, the pizza chain remains a key player in the fast-food industry.
Constellation Energy shed about 7% during the session, contributing to the mixed performance observed across the market. The day showcased how sensitive stocks are to analyst ratings and corporate developments, emphasizing the importance of staying informed in an ever-changing market landscape.
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