February 5, 2024 10:32 AM | 2 min read
;background-position:0%%200%;background-size:cover;filter:blur(20px) "Estée Lauder Posts Upbeat Earnings, Joins ON Semiconductor, Tyson Foods And Other Big Stocks Moving Higher On Monday"){kind=logo}
U.S. stocks traded lower, with the Dow Jones falling over 300 points on Monday.
It was a different story for The Estée Lauder Companies Inc. (NYSE:EL) as its shares soared on Monday’s session. The company reported better-than-expected second-quarter financial results and an announced restructuring program, leading to a sharp rise of 14% in its shares to $152.93. This surge propelled Estée Lauder to join other big stocks that recorded gains on the day.
Joining the surge, 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) jumped 100.9% to $35.13 after announcing interim data from the Phase 2 PRISM clinical trial. Everbridge, Inc. (NASDAQ:EVBG) shares surged 18.2% to $28.13 after the announcement of its acquisition by Thoma Bravo for $1.5 billion. MorphoSys AG (NASDAQ:MOR) rose 15.7% to $12.81, while Core Scientific, Inc. (NASDAQ:CORZ) saw an increase of 10.3% to $3.29 after producing 13,762 Bitcoin in 2023. Digital World Acquisition Corp. (NASDAQ:DWAC) rose 10.1% to $44.68. Catalent, Inc. (NYSE:CTLT) climbed 10% to $59.97 after the company announced its acquisition by Novo Holdings. Napco Security Technologies, Inc. (NASDAQ:NSSC) rose 8.5% to $38.86 following second-quarter results, and Super Micro Computer, Inc. (NASDAQ:SMCI) jumped 7.6% to $623.84. ON Semiconductor Corporation (NASDAQ:ON) gained 7.3% to $75.97, and Elanco Animal Health Incorporated (NYSE:ELAN) surged 6% to $15.61 after the sale of its aqua business to Merck Animal health for $1.3 billion. Haynes International, Inc. (NASDAQ:HAYN) gained 6% to $59.49 as the company penned a deal to be acquired by North American Stainless, a wholly owned subsidiary of Acerinox, for an enterprise value of about $970 million. CNA Financial Corporation (NASDAQ:CNA) gained 5.2% to $45.59 after it reported fourth-quarter FY23 results. Eli Lilly and Company (NYSE:LLY) rose 5.2% to $702.38. Eli Lilly and Company is expected to release earnings results for its fourth quarter, before the opening bell on Feb. 6, 2024. Lastly, Tyson Foods, Inc. (NYSE:TSN) gained 3.5% to $58.32 after the company reported better-than-expected first-quarter financial results and issued guidance.
Investors are keeping a close watch on these remarkable developments in the market.