These Stocks Moved the Most Today: Metsera, Nvidia, Tesla, Rumble, MP Materials, Viasat, Monday.com, CoreWeave, and More

Traders working at the New York Stock Exchange. (NYSE)

Key Points

• Metsera falls sharply after Pfizer agrees to acquire the weight-loss drug start-up for up to $86.25 a share.
• Nvidia jumps, following a 7% decline last week, its worst weekly performance since mid-April.
• CoreWeave is scheduled to report quarterly earnings after the closing bell Monday.

The Nasdaq Composite rallied 2.3% on Monday. The tech-heavy index had its best day since May as Congress finally took steps toward an end to the government shutdown.

These stocks made moves:

Metsera dropped 15% to $70.87 after Pfizer agreed to buy the weight-loss drug start-up for up to $86.25 a share. The deal bested Danish drugmaker Novo Nordisk’s bid for Metsera, which has a pipeline of weight-loss medicines. Pfizer fell 0.2%, and Novo Nordisk’s American depositary receipts rose 0.6%.

Nvidia jumped 5.8% on optimism over the government shutdown soon ending.The artificial-intelligence chip maker closed last week down 7%.

Palantir Technologies, which sells AI software to manage and analyze large amounts of data, rose over 8.8%. It dropped 11% last week.

Tesla gained 3.7%. The stock declined 3.7% on Friday, the day after shareholders approved a pay package for CEO Elon Musk that could be worth more than $1 trillion if performance incentives are met.

Boeing rose 0.1%. The Federal Aviation Administration ordered all MD-11 planes temporarily grounded after a United Parcel Service cargo jet crashed last week in Louisville, Ky., killing at least 14 people. UPS was down 3%. FedEx, which also has the planes, was down 3%, The MD-11 is a three-engine, twin-aisle jet built by McDonnell Douglas, which merged with Boeing in 1997. Production ceased in 2000.

MP Materials climbed 9.5% to $64.84 after Deutsche Bank upgraded shares of the rare-earth miner to Buy from Hold with a price target of $71, up from $68.

Eli Lilly rose 4.6% to $966.64, heading for its highest close on record, according to Dow Jones Market Data. Shares were upgraded to Outperform from Market Perform at Leerink Partners with a $1,104 price target, up from $886. Lilly makes the popular weight-loss drugs Mounjaro and Zepbound.

Viasat gained 3.3%. The satellite services company reported fiscal second-quarter earnings on Friday. Its quarterly net loss shrank to $61 million from $138 million last year, while revenue grew 2.2% to $1.1 billion. Shares were upgraded to Buy from Hold at Raymond James on Monday.

Rumble rose 11%. The company is acquiring German AI infrastructure company Northern Data in a deal valued at up to $970 million. Both companies are backed by Tether, the stablecoin issuer.

TreeHouse Foods jumped 23% to $23.37. The food processing company agreed to be taken private by Investindustrial, a European investment firm, in a$2.9 billion all-cash transaction.

Monday.com declined 12% after the project-management software company posted third-quarter earnings and revenue that beat Wall Street estimates. It issued fourth-quarter revenue guidance that was below expectations.

Tyson Foods gained 2.3%. The largest U.S. meat supplier posted better-than-expected earnings in the fiscal fourth quarter, though revenue missed analysts’ forecasts. One highlight was strength in Tyson’s chicken business, which bucked a trend of falling volumes across other categories such as pork and beef.

Earnings reports were expected after the closing bell Monday from CoreWeave, Occidental Petroleum, Paramount Skydance, Rocket Lab, AST SpaceMobile, eToro, Rigetti Computing, and Venture Global.

Reports are expected later in the week from Cisco Systems, Walt Disney, Applied Materials, Nebius, Oklo, Fermi, JD.com, Sea Ltd., Transdigm, Flutter Entertainment, Circle Internet, GlobalFoundries, and Quantum Computing.

Write to Joe Woelfel at joseph.woelfel@barrons.com and Mackenzie Tatananni at mackenzie.tatananni@barrons.com