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Key Takeaways
- Major U.S. equities indexes were mixed Monday afternoon, as tech stocks gained but most other sectors declined.
- Amazon shares rose to a record high on a $38 billion deal to provide AI infrastructure for OpenAI.
- Kenvue shares soared after Kimberly-Clark said it would buy the Tylenol maker in a nearly $49 billion deal.
Major U.S. equities indexes were mixed Monday afternoon, as tech stocks gained but most other sectors declined. The S&P 500 and Nasdaq rose, while the Dow fell.
Amazon (AMZN) shares surged to an all-time high after the tech giant struck a $38 billion cloud computing deal with OpenAI that will give the ChatGPT maker access to Amazon Web Services infrastructure to run its workloads.
Shares of Kenvue (KVUE) also soared after Kimberly-Clark (KMB) agreed to buy the Tylenol maker for approximately $48.7 billion. Kimberly-Clark shares tumbled to lead decliners in the S&P 500.
IDEXX Laboratories (IDXX) shares took off after the provider of animal health diagnostic tools posted better-than-expected results on high demand for its veterinarian testing products.
Beyond Meat (BYND) shares sank as the maker of plant-based foods said it was delaying its third-quarter financial report because it needs more time to calculate an impairment charge.
Shares of Charter Communications (CHTR) also dropped following a downgrade from Keybanc, which raised concerns after the cable and internet provider reported weak residential revenue and a decline in internet subscribers.
Oil and gold futures gained. The yield on the 10-year Treasury note advanced. The U.S. dollar was up against the euro, pound, and yen. Prices for most major cryptocurrencies lost ground.
