Warner Bros. (WB), M&T Bank, Enphase Energy Trust (ENPH), Digital Realty Trust DLR (DLR), Warner Bros. Today, the S&P 500 index was led by First Solar (FSLR), Discovery (WBD), and Bank of New York Mellon (BK). State Street (STT), Moderna, Bank of New York Mellon BK, Keysight Technologies KEYS and Marathon Oil MRO were among the S&P 500’s largest losers Monday.
S&P 500 closed Monday at a 0.3% gain, close to session highs in a narrow range.
MTB's stock closed above the 21-day line at 125.66 for the first time since two months. M&T Bank exceeded expectations with its strong net interest income. The lending increased slightly in comparison to the end of 2022. However, deposits decreased. Most bank stocks had a great day.
ENPH's stock rose 7.7% to 224.92. This puts shares above the 50-day level for the first time since 2023, after only just crossing that important threshold late last week. Piper Sandler upgraded Enphase Energy from underweight to overweight after stating that U.S. Residential Sales were likely better than expected for the solar inverter manufacturer in the first quarter. The ENPH price target was set at 255.
DLR's stock rose 7.15%, to 96.20. Digital Realty Trust, an REIT that owns data centers, fell to a new six-month-low on Friday.
WBD is up 5.4% at 14.53, but still below the 50-day line in a base. Warner Bros. Discovery shares fell 8.8% in the last week, a reversal of fortunes after the media giant announced its plans for a new streaming service called Max. HBO was dropped from the name.
FSLR's stock soared 5%, to 218.89. The shares rebounded off the 21-day line and offered an aggressive entry. First Solar's stock reached 221.88 intraday, clearing a recent consolidation that could have been treated as a flat basis.
Bonus: SolarEdge Technologies, a rival to Enphase, rose 4.9% on Monday and was the sixth best S&P 500 share.
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STT was the worst performing stock in the S&P 500 index on Monday. The shares plunged 9.2% to 72.68 after weaker than expected Q1 earnings. However, the shares were off an intraday low of just 65.62, which had been reached for eight months. State Street, an asset custodian, reported lower fees and assets under custody.
MRNA fell 8.35%, to 143.99. Its 50-day line was breached in heavy volumes. Moderna and Merck reported positive Phase 2 results on their cancer vaccine. Moderna's stock fell because it is unlikely that the FDA will approve a cancer vaccine in a phase 3 trial.
BK shares fell 4.6%, to 44.23 %. They gapped below the 200-day level but recovered from their lows. Bank of New York Mellon's stock fell along with its peer State Street.
KEYS fell 4.1% to 153.03 - its lowest close since late July.
MRO shares fell 3.6% to 24,80. After hitting resistance near the 200-day, shares fell below their 50 day line.
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First Solar, Enphase Energy and First Solar are among the top 5 performers in today's S&P 500.