Nespix
Stock futures edged higher on Monday after the Federal Reserve signaled that long-awaited interest rate cuts could begin as soon as next month, while Treasury yields fell and the market remained near record highs.
Here are some of the biggest stock price changes on Monday:
maximum Stocks with rising stock prices
- XPeng (NYSE:XPEV)KK A surge of over 7% After Chairman and CEO He Xiaopeng increased his stake in the company in an effort to restore investor confidence, Mr. Ho, in his role as controlling shareholder, purchased 1 million Class A ordinary shares at an average price of HK$27.13 per share on the Hong Kong stock market between August 21 and 23, and also purchased 1,419,922 American Depositary Shares (ADSs) at an average price of HK$7.02 per ADS through his wholly owned Galaxy Dynasty Limited. Mr. Ho’s shareholding has now increased to approximately 18.8%, and he has announced plans to increase his stake further.
- Open Door Technologies (Nasdaq:Open)KK Increased by about 6%Opendoor’s shares rose on the heels of an 11% rally on Friday after Federal Reserve Chairman Jerome Powell made dovish comments about interest rates during a highly-anticipated speech in Jackson Hole, Wyoming. Real estate investors, eager for signs of upcoming rate cuts, reacted favorably to Powell’s tone, boosting Opendoor’s shares.
- SiriusXM (Nasdaq:SIRI) stock price rose 4% after Liberty Media Corporation (LSXMA) announced the approval of a Liberty Sirius XM Holdings (New Sirius) redemption split (the Split) at a virtual special meeting of Liberty Sirius XM common stockholders, Series A and Series B, held on August 23, 2024. Following the Split, New Sirius will merge with Sirius XM Holdings Inc. (SIRI) to create a new public company that will continue to operate under the Sirius XM name and brand. Liberty Media will redeem its outstanding Liberty SiriusXM common shares for New Sirius common shares. The final exchange ratio will be announced on or about September 5, 2024. Liberty SiriusXM common stock will cease trading on September 9, 2024 and New Sirius common stock will begin trading on the Nasdaq Stock Market under the ticker symbol “SIRI” on September 10, 2024.
Stocks with the most volatile stock prices
- PDD Holdings (Nasdaq:PDD)KK 25% plunge The second quarter saw mixed results, with revenue growing 86% to $13.36 billion, $610 million below consensus. The Chinese online retailer saw slower revenue growth sequentially, with online marketing services up 29% and transaction services surging 234%. Operating expenses increased 48%, mainly due to higher sales and marketing expenses. Vice President of Finance Jun Liu warned that increased competition and external challenges could weigh on future revenue growth and impact profitability.
- SolarEdge Technologies (Nasdaq:SEDG) reversed premarket gains, 6% decrease Zvi Rand stepped down as CEO for an undisclosed reason. Former CFO Ronen Feyer was named interim CEO, and senior VP of Finance Ariel Porat was named CFO immediately.
- Guardant Health (Nasdaq:GH)KK 11% drop The company announced that it has entered into a public market sales agreement with Jefferies regarding an at-the-market offering program that allows it to offer and sell shares of its common stock for aggregate proceeds of up to $400 million.
