U.S. stocks traded lower in late trading Monday, with the Dow Jones Industrial Average down 0.7% at 38,380.12 and the S&P 500 down 0.3% at 4,942.81. The Nasdaq closed Monday down 0.2% at 15,597.68.
These are the top stocks that caught the attention of retail traders and investors throughout the day:
Palantir Technologies Inc PLTR saw a notable decline, closing down 1.76% at $16.72. Despite this, the company reported a 20% increase in fourth-quarter revenue, reaching $608 million and beating consensus estimates. With significant growth in US trade revenue and steady growth in government revenue. The company’s outlook remains positive, forecasting revenue of $612 million to $616 million for the first quarter.
NVIDIA Corp NVDA posted an impressive rise, closing up 4.79% at $693.32. Goldman Sachs raised its 12-month price forecast for NVIDIA to $800, highlighting the company’s dominant position in accelerated computing. This adjustment reflects a bullish stance on NVIDIA’s role in monetizing AI and its significant market share growth in data center computing. Analysts remain optimistic about the company’s innovative capabilities and its strategic positioning for future growth.
Eli Lilly and Co LLY ended the day up 5.77% at $706.20, buoyed by anticipation for its weight-loss drug Directly in Zep. While there is no specific news driving the stock, the market is eagerly awaiting the company’s fourth quarter results and guidance. Eli Lilly’s strategic pricing and production expansion indicates a strong commitment to meeting growing demand for its products. Investors are closely monitoring the potential impact of supply constraints on Zepbound availability in 2024.
Simbotico Inc SYMBOL fell 1.68% to close at $49.60. The company announced mixed financial results for the first quarter, with a slight disappointment compared to sales expectations but a positive outlook for the coming quarters. CEO Rick Cohen underlined the company’s focus on innovation and growth, aiming for greater profitability and implementation capacity. Symbotic’s actions reflect the market’s reactions to these results.
Tesla Inc TSLA declined, closing down 3.65% at $181.06. Concerns about the CEO’s alleged illegal drug use Elon Musk and other board members lobbied the stock. Despite these challenges, Tesla remains a focus for investors, with Piper Sandler adjusting its delivery estimates but maintaining a bullish outlook on the company’s long-term prospects.
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