Electronic Arts
Shares rose by 5% shortly after a consortium of investors led by Jared Kushner announced a
$55 billion deal to acquire the video game maker and take it private, confirming earlier reports.
Cannabis Stocks
The cannabis sector surged following President Donald Trump’s video on Truth Social, where he
touted the benefits of cannabinoids for seniors. The AdvisorShares Pure U.S. Cannabis ETF
(MSOS) jumped 22%, while Aurora Cannabis saw a 14% increase.
Novo Nordisk
U.S.-listed shares of the Danish pharmaceutical company fell by 3.2% after Morgan Stanley
downgraded the stock from equal weight to underweight. The downgrade was attributed to rising
competition in the GLP-1 space and other potential downside risks.
Lam Research
The semiconductor equipment maker climbed 3% following a Deutsche Bank upgrade from hold to buy.
The bank noted that Lam Research is poised to benefit from an improving outlook for wafer
fabrication equipment, with a valuation that aligns well with its peers.
Oracle
The database software company ticked up nearly 1% after experiencing a drop last week due to
concerns surrounding the AI trade. Oracle is coming off an 8.2% weekly decline, its largest
since the week ending April 4, when it fell nearly 9%.
AppLovin
Shares rose by 2.7% after Morgan Stanley raised its price target for the mobile technology
company from $480 to $750. The bank highlighted that on October 1, AppLovin will launch its
self-serve tool for non-gaming, which is seen as a key catalyst for growth in its ad business,
tapping into billions of ad dollars outside the gaming industry.
Boeing
The aircraft manufacturer added nearly 1%, building on Friday’s 3.6% advance. This positive
movement follows the Federal Aviation Administration’s indication that it would relax restrictions
on Boeing issuing airworthiness certificates for certain 737 Max jets.
Intel
The chipmaker fell by 1.7%, losing some momentum after a significant run-up that pushed the
stock into overbought territory. Intel has surged approximately 80% this year, with a relative
strength index at 80, indicating vulnerability to a potential pullback.
Applied Materials
Shares rose by 1% after the company announced it entered a 364-day revolving credit facility
with Bank of America worth $2 billion.
Wells Fargo
The bank was downgraded from overweight to equal weight by Morgan Stanley, which cited limited
upside potential for the stock. Shares of Wells Fargo were down less than 1%.
— CNBC’s Sarah Min, Alex Harring, Fred Imbert, and Michelle Fox Theobald contributed reporting.
