Intraday Trading Highlights
Here’s a look at some stocks that are making waves in intraday trading. The Trade Desk experienced a drop of about 7%, marking its fourth consecutive day of losses. HSBC has revised its rating for the company, lowering its price target from $31 to $20, which suggests a nearly 13% decline from the closing price on Friday. This shift comes after The Trade Desk’s recent first-quarter results fell short of expectations, along with a less-than-ideal forecast for the current quarter.
In contrast, Corning saw a significant rise of 10%. Bank of America has placed Corning on its US 1 list of investment ideas, granting it the highest buy rating. This follows an announcement from Nvidia regarding a massive investment of up to $3.2 billion to open three new facilities focusing on optical technology with Corning.
Overall, semiconductor stocks made a strong showing early in the week, attracting investor interest. The VanEck Semiconductor ETF (SMH) increased by more than 1%, with Qualcomm climbing 7% to reach a new 52-week high. Other notable gains included nearly an 8% rise for Western Digital and a 3% increase for Nvidia.
On the flip side, Wendy’s saw a decline of 6%. JPMorgan downgraded the fast-food chain from neutral to underweight, setting a new price target of $6, reflecting an expected decline of about 18% from the previous closing price. The downgrade was attributed to ongoing decreases in significant U.S. same-store sales trends and uncertainties regarding the company’s future direction.
Lumentum’s shares climbed nearly 5% after the announcement that the company would be joining the Nasdaq 100 index, set to replace CoStar on May 18th.
Additionally, Monday.com enjoyed a 6% increase following a stronger-than-expected first-quarter financial report that showcased higher profits and revenues. The launch of its AI platform contributed to an impressive 24% year-over-year revenue boost, amounting to $351.3 million, surpassing analysts’ expectations.
Sony’s shares also rose nearly 6% after revealing a joint venture with Taiwan Semiconductor Manufacturing Company to develop and manufacture image sensors. The collaboration aims to enhance sensor performance by merging Sony’s design capabilities with Taiwan Semi’s technology.
In the energy sector, oil prices climbed on Monday following Iran’s rejection of a recent U.S. peace proposal, alongside President Trump’s dismissal of Iran’s counter-offer. Valero Energy stock went up by 2%, while Occidental Petroleum increased by 4%, and both Devon Energy and ConocoPhillips added 2% to their stock prices.
Circle Internet Group, a stablecoin issuer, saw its stock rise 15% after reporting a mixed bag for first-quarter results. Earnings per share hit 21 cents, exceeding expectations by 3 cents, although sales reached $694 million, falling short of the anticipated $722 million. Circle also secured $222 million from major institutions like BlackRock and Apollo during a token presale, a common fundraising method for early-stage blockchain ventures.
Meanwhile, Micron Technology, a memory stock, surged nearly 6% on Monday after a notable 15% increase on Friday. Over the past month, its stock price has skyrocketed by more than 77%, driven by a memory shortage linked to artificial intelligence.
