A surge in the U.S. stock market saw the Dow Jones index gaining approximately 200 points on Monday, with several significant stocks making notable gains.
Commenting on the market movement, a financial analyst observed that the acquisition announcement by Sunoco, valuing NuStar Energy L.P. NS at around $7.3 billion, triggered a substantial rise in NuStar Energy shares, sending them up by 14.2% to $20.59.
The market also saw several other big stocks recording substantial gains on Monday.
- Sagimet Biosciences Inc. SGMT shares surged 135% to $15.99 following the announcement of significant results from the Phase 2b FASCINATE-2 clinical trial.
- Rumble Inc. RUM gained 25.6% to $4.51 after a partnership announcement with Barstool Sports.
- Digital World Acquisition Corp. DWAC jumped 24% to $32.70 following the end of Ron DeSantis’s presidential campaign, as the company is the business combination partner of Trump Media & Technology Group.
- Upstart Holdings, Inc. UPST climbed 13.3% to $37.06.
- ChargePoint Holdings, Inc. CHPT gained 13% to $1.96.
- Spirit Airlines, Inc. SAVE shares rose 12.6% to $7.53 following a joint appeal with JetBlue Airways against a ruling blocking their proposed merger.
Several other stocks also witnessed significant upward movement, including Affirm Holdings, Inc., Opendoor Technologies Inc., Fastly, Inc., Peloton Interactive, Inc., Joby Aviation, Inc., Wayfair Inc., Ginkgo Bioworks Holdings, Inc., Palantir Technologies Inc., StoneCo Ltd., and The Trade Desk, Inc.
Insiders predict that United Airlines is likely to report lower Q4 earnings, prompting certain analysts to revise their forecasts ahead of the earnings call.
