Check out the companies making headlines in midday trading: Drugmakers — Pharmaceutical stocks bounced back from earlier losses after an executive order aimed at bringing down drug prices was deemed not as bad as feared for the industry. Merck jumped 5.9%, while Pfizer and Bristol-Myers Squibb each added more than 3%. Eli Lilly all rose about 2.9%. However, pharmacy chain CVS Health tumbled 3.2% as part of the order called for a platform that allowed Americans to buy products directly from manufacturers. Tech stocks — Shares of megacap technology companies saw a broad rally on Monday after the U.S. and China agreed to suspend most tariffs on each other’s goods. Shares of Tesla and Amazon , which have both seen declining China sales, rose 6.8% and 8.1%, respectively. Apple , which makes the majority of its iPhones in China, gained 6.3%. Meta Platforms jumped roughly 8%. Semiconductor stocks Nvidia , Broadcom and ON Semiconductor also rose. Chegg — Shares popped 7.5% on Monday after the educational technology company said it would lay off 22% of its workforce . The cuts come as the company contends with declining web traffic as students favor artificial intelligence tools when utilizing education tech services. China stocks — U.S.-listed shares of Chinese companies moved higher on the heels of the tariff agreement between the U.S. and China. Shares of e-commerce giants PDD Holdings and Alibaba rose 6.1% and 5.8%, respectively, and fellow e-commerce name JD.com also jumped about 6.5%. Tech giant Baidu also surged about 5.1%. KindlyMD — The health-care company surged about 251% on news that it is merging with Nakamoto , a bitcoin investment company founded by David Bailey, who is a key cryptocurrency advisor to President Donald Trump. Retail stocks — Retailers sensitive to tariffs on Chinese imports jumped after the U.S. and China came to a temporary agreement to slash levies. Five Below and RH both soared about 21% and 16%, respectively, while Nike , Estée Lauder and Best Buy rose about 7%. Shares of Lululemon and Williams-Sonoma gained about 8%, while E.l.f Beauty jumped about 10.8%. NRG Energy — Shares of the energy company popped about 26% after the company announced on Monday that it will acquire a power portfolio from LS Power for $12 billion. The deal for the portfolio, which includes several natural gas generation facilities across nine states, is expected to close in the first quarter of next year. Las Vegas Sands , Wynn Resorts — Casino stocks surged on Monday, outpacing the broader markets, after the U.S. and China announced a 90-day pause on most of the tariffs between the two countries. Shares of Las Vegas Sands rose 6.5%, while Wynn Resorts jumped 8.2%. Both companies have significant exposure to the Chinese economy through their properties in Macao. — CNBC’s Alex Harring, Sean Conlon, Jesse Pound and Michelle Fox contributed reporting.
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Our finance blog is your go-to resource for expert financial advice, covering everything from personal budgeting and saving strategies to smart investing and market analysis. Stay updated with the latest trends, tips, and insights to help you make informed decisions and achieve financial success.
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