Intel shares surged 10% on Monday, driven by reports suggesting that industry giants Broadcom and Taiwan Semiconductor Manufacturing are considering potential deals that could result in a split of the company. The tech sector saw a flurry of activity as investors reacted to this development, alongside other notable market movements.
Conagra Brands faced a downturn, losing over 5% after announcing a downward revision of its 2025 earnings guidance. The company cited challenges in the food industry as factors influencing its decision. Meanwhile, Bath & Body Works experienced a 9% increase in share value following an upgrade by JPMorgan, which raised its stock rating to overweight from neutral.
In the apparel sector, Nike saw a 4.5% uptick after unveiling plans for a new brand in collaboration with Kim Kardashian's Skims shapewear company. The new NikeSkims brand will focus on athletic training apparel, footwear, and accessories. The first collection is set to debut in the United States this spring.
Constellation Brands also enjoyed a boost, climbing 4.4% after Warren Buffett's Berkshire Hathaway disclosed a $1.2 billion investment in the company. Snowflake benefited from a Wolfe Research upgrade, rising 2.5% after being rated to outperform from peer perform.
The biotech sector witnessed Moderna shares rallying 7%, building on their 3% gain from Friday following their positive fourth-quarter earnings results. However, Fluor saw a significant 9% drop after reporting disappointing fourth-quarter results and issuing weak full-year earnings guidance.
Medtronic shares slid 6.8% due to mixed quarterly results. In contrast, Super Micro Computer surged 11%, continuing its momentum from last week’s 32% rally. This comes after CEO Charles Liang expressed confidence in filing the company's delayed annual report by the February 25 deadline.
Altice USA added 2% to its share value following an upgrade by Raymond James to outperform from market perform. Venture Global shares likewise saw an 8% rise on the back of multiple Wall Street initiations that have shown growing interest in the company.
Walgreens Boots Alliance experienced a remarkable surge of 11.9%. This increase followed CNBC's David Faber's comments indicating renewed life in the potential buyout deal between Walgreens and private equity firm Sycamore Partners.
On a less positive note, General Mills shed 3% after its presentation at the Consumer Analyst Group of New York (CAGNY). The presentation failed to impress investors, resulting in a decline in share value.
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