Exxon Mobil (XOM) rose 3%, Chevron (CVX) rose 2.6%, ConocoPhillips (COP) rose 4.4%, and Shell (SHEL)’s U.S.-listed stock rose 1.6% as oil prices soared. did. U.S. benchmark West Texas Intermediate crude oil futures rose 4.1% to $86.21 a barrel. Traders were focused on how the conflict would affect oil production in the Middle East.
Lockheed Martin (LMT) rose 8%, and stocks of other defense companies also rose. RTX Co., Ltd. (RTX), 4.6% increase; Northrop Grumman (NOC) also rose by 11%, following the war between Israel and Hamas. Northrop is
S&P500
on monday.
Separately, Lockheed’s board on Friday approved expanding Lockheed’s stock repurchase program by $6 billion, and the company increased its quarterly dividend from $3 to $3.15 per share.
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Delta Air Lines (DAL) fell 4.4%, American Airlines (AAL) fell 4.6%, and United Airlines (UAL) declined after the weekend’s Gaza attacks and direct threats from the terrorist organization Hamas, which led airlines to move to Israel. It fell 5% due to the suspension of flights. Ben Gurion Airport. Other travel stocks also fell, including cruise line company Carnival (CCL). Carnival fell 4.9%.
Mirati Therapeutics (MRTX) stock falls 4.7% after the oncology drug developer reaches an agreement to be acquired by Bristol-Myers Squibb (BMY) for $58 per share in cash It became $57.39. Mirati stock closed Friday at $60.20. Under the terms of the transaction, valued at up to $5.8 billion, Mirati shareholders will receive one non-tradable contingent value right per share, potentially valued at $12 per share in cash. Bristol-Myers rose 0.5%.
Walt Disney (DIS) rose 1.5%. The Wall Street Journal reported that Nelson Peltz’s Trian Fund Management is seeking multiple seats on the entertainment giant’s board. Peltz himself is seeking the seat, the newspaper reported, citing people familiar with the matter. Tryon is one of Disney’s biggest investors, owning $2.5 billion worth of stock. Disney stock has fallen 4.5% since the beginning of the year.
alnylam pharmaceutical
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ALNY falls 6.2% after the Food and Drug Administration issued a so-called complete response letter and the company announced it would not pursue an expanded indication for patisiran to treat transthyretin-mediated (ATTR) amyloidosis cardiomyopathy. did.
Spotify Technology (SPOT) is down 2.6% after Redburn Atlantic analysts downgraded the stock from “buy” to “neutral” and lowered their price target from $170 to $160. It fell to $156.42.
SolarEdge Technologies (SEDG) fell 4.8%. Berkeley analysts last week downgraded the stock from overweight to equal weight, expecting conditions to continue to be tough for the solar inverter maker.
Zscaler (ZS) rose 4.1% after Barclays upgraded the cybersecurity stock from equal weight to overweight.
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Email Joe Weelfel at joseph.woelfel@barrons.com.
