These Stocks Moved the Most Today: Palantir, Tesla, Berkshire Hathaway, ON Semiconductor, Joby, D-Wave, and More

Traders on the floor of the New York Stock Exchange. (Michael M. Santiago/Getty Images)

Stocks bounced back on Monday after Friday’s weaker-than-expected jobs report triggered sweeping losses and raised the odds of the Federal Reserve cutting interest rates in September.

These stocks made moves:

Class B shares of Berkshire Hathaway fell 2.9%. Second-quarter operating profit after taxes dropped 4% from a year earlier to $11.2 billion. The period included foreign-exchange losses of $877 million related to Berkshire’s non-U. S. dollar debt. Earnings would have risen from a year earlier if the noncash loss was excluded. As of June 30, Berkshire’s massive cash balance had declined slightly to $344 billion from roughly $348 billion at the end of March.

Tesla gained 2.2% after the electric-vehicle maker’s board approved a compensation package for CEO Elon Musk. The package consists of 96 million shares of restricted stock, worth about $29 billion. An earlier pay package was struck down by a judge in January 2024 on the grounds that it was unfair to shareholders. Tesla shares closed down 1.8% on Friday.

Boeing stock rose 0.2%, paring earlier losses after a strike began at three defense plants in the St. Louis area on Monday. About 3,200 workers at Boeing facilities in Missouri and Illinois rejected a labor deal on Sunday, according to the IAM Union. The latest strike is the second for the aerospace giant in less than a year.

ON Semiconductor slumped 16%. The maker of chips for vehicles and industrial equipment posted adjusted earnings of 53 cents a share, in line with the consensus estimate among analysts polled by FactSet. Revenue fell 15% to 1.47 billion in the second quarter, though it narrowly beat the $1.45 billion Wall Street was looking for.

Amazon.com was down 1.4%. Although the e-commerce company’s second-quarter earnings beat expectations, it failed to impress with its guidance for the current quarter, and growth in its cloud business appeared slower than investors had hoped. Amazon ended the session down 8.3% on Friday.

Shares of Palantir Technologies rose 4.1%. The data-analytics company is slated to report second-quarter earnings after the closing bell. The U.S. Army said Thursday that it had selected Palantir for a 10-year deal worth up to $10 billion.

CommScope skyrocketed 86% after Amphenol confirmed it had struck a $10.5 billion deal to buy CommScope’s broadband connectivity and cable unit. Amphenol said it intends to finance the acquisition through a combination of cash on hand and debt. Shares rose 4.1%.

Idexx Laboratories surged 27% after second-quarter earnings topped expectations. The maker of diagnostic products for veterinary offices also hiked its outlook and now sees 2025 earnings per share of $12.40 to $12.76, a 40-cent increase at the midpoint of its prior guidance.

Joby Aviation gained 19%. The developer of electric air taxis said it would purchase Blade Air Mobility in a deal worth up to $125 million. Blade’s passenger air-taxi business will operate as a wholly owned subsidiary of Joby and will be headed by Blade CEO Rob Wiesenthal. Blade stock rose 17%.

D-Wave Quantum rose 4.9% to $17.18. The quantum computing company unveiled a tool kit for artificial-intelligence developers, saying it marked a “pivotal step” the development of quantum AI. Also, Needham analysts maintained a Buy rating on D-Wave shares while boosting their price target to $20 from $13.

BioNTech posted a quarterly loss of 1.60 euros a share, narrower than the loss of 3.36 euros last year and better than the loss of 2.28 euros expected by analysts. Revenue of 261 million euros ($302.1 million) came in above Wall Street estimates. U.S.-listed shares of the Covid vaccine maker were up 2.5%.

Write to Joe Woelfel at joseph.woelfel@barrons.com, Elsa Ohlen at elsa.ohlen@barrons.com, and Mackenzie Tatananni at mackenzie.tatananni@barrons.com