© Reuters.
Investing.com — U.S. stocks reversed earlier losses to turn green on Monday despite rising bond yields as investors await quarterly earnings from a number of tech giants this week.
Here are some of the biggest U.S. stock movers today:
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Hess (NYSE:) stock fell 0.9% and Chevron (NYSE:) stock fell 3.1% after the oil major launched a bid to acquire its smaller rival in an all-stock deal valued at $53 billion.
- Okta (NASDAQ:) stock fell 7.9%, continuing Friday’s selloff after the cybersecurity firm disclosed a breach of its customer support system that allowed some hackers to view files uploaded by certain clients.
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Apple (NASDAQ:) stock rose 0.3% after word that Foxconn, a major supplier of Apple’s iPhones, faces a tax probe in China, according to a report in the state-backed Global Times newspaper.
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Roivant Sciences (NASDAQ:) stock fell 4.7% in volatile trading after Roche agreed to pay an initial $7.1 billion to the drug maker, in combination with Pfizer (NYSE:), up 1.7%, for rights to a new inflammatory bowel disease drug.
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Tesla (NASDAQ:) stock rose 2.2% after the EV manufacturer said its capital expenditure for 2023 would exceed the $7 billion to $9 billion target it had laid out earlier this year.
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Pinterest (NYSE:) stock rose 3.2% after Stifel upgraded the image sharing company to ‘buy’ from ‘hold’, seeing substantial growth potential beyond the domestic market.
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Walgreens (NASDAQ:) stock rose 4.7% after JPMorgan upgraded the pharmacy chain to ‘overweight’ from ‘neutral’, saying the recent leadership transition, with Tim Wentworth assuming the CEO role, marks the commencement of a new phase for its shares.
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Salesforce (NYSE:) stock fell 0.3% and Unity Software (NYSE:) dropped 1.3% after Piper Sandler downgraded both software companies to ‘neutral’ from ‘overweight’, while Asana (NYSE:) rose 0.6% after Piper Sandler dropped it to ‘underweight’ from ‘neutral’.
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