Oracle, Nvidia Shares Advance; Kenvue Stock Slips

Shares of a semiconductor testing company rose Monday after an analyst highlighted strong demand trends and collaboration with a major chip-industry player. Meanwhile, reports of an impending product safety announcement dragged down shares of a consumer health firm.

Major U.S. equities indexes moved higher as plans by Nvidia (NVDA) to invest up to $100 million in ChatGPT maker OpenAI reinvigorated optimism around artificial intelligence. The S&P 500 added 0.4%, extending its streak of all-time closing highs to three consecutive sessions. The Dow ticked 0.1% higher, while the Nasdaq jumped 0.7%, with both setting their own fresh closing records.

Shares of Nvidia finished 4% higher. Read Investopedia’s full coverage of today’s trading here.

The day’s top performance in the S&P 500 belonged to shares of semiconductor equipment maker Teradyne (TER), which surged 13%. Susquehanna Financial boosted its price target on Teradyne stock, with its analysts saying the provider of automated test equipment for semiconductors and robotic systems could benefit from strong demand trends over the coming years and highlighting Teradyne’s increasing partnership with chip industry giant Taiwan Semiconductor Manufacturing Company (TSM).

White House officials confirmed that Oracle (ORCL) is part of a consortium set to control the U.S. operations of the social media platform TikTok. Oracle also announced that Clay Magouyrk, current president of cloud infrastructure, and Mike Sicilia, president of industries, will take the reins of the enterprise software giant as co-CEOs. Current CEO Safra Catz will remain with Oracle as the executive vice chair of its board, while co-founder Larry Ellison will maintain his role as chief technology officer and board chair. Oracle shares jumped 6.3%.

Moderna (MRNA) shares gained 5.2% after the Centers for Disease Control and Prevention’s vaccine panel voted on updated recommendations related to COVID shots. While the CDC’s Advisory Committee for Immunization Practices removed guidance calling for all people to be vaccinated against COVID and now recommends that patients consult with their doctor before receiving the shot, the panel opted not to require patients to obtain a prescription for the vaccine.

Shares of Westinghouse Air Brake Technologies (WAB), a provider of equipment for freight and passenger railway systems, added 4.9%. The company also known as Wabtec announced a deal worth more than $4 billion to deliver 300 of its Evolution Series locomotives to Kazakhstan’s national railway company over the coming decade and provide long-term service support. Citi analysts initiated coverage on Wabco stock with a “buy” rating, suggesting the company could benefit from increasing infrastructure investment as well as moves by railroad operators to renew and expand their fleets.

Shares of Tylenol maker Kenvue (KVUE) dropped 7.5%, the most of any S&P 500 stock, following reports that the Trump administration planned to make an announcement linking use of the painkiller during pregnancy to autism. A presentation on the matter happened at the White House after the closing bell. Kenvue, the consumer health company that spun off from Johnson & Johnson (JNJ) in 2023, said that scientific studies show no link between acetaminophen and autism.

Social media giant Meta Platforms (META) launched a pair of new features for its Facebook Dating service—an AI assistant that provides support throughout the dating process and a function that offers automatic matches with potential partners based on Facebook’s algorithms. Shares of Match Group (MTCH), operator of Tinder, Hinge, and other dating platforms, fell 5.4%.

Lennar (LEN) shares fell 4.3% on Monday, extending losses posted Friday after the homebuilder missed quarterly sales and profit forecasts. Following the softer-than-expected earnings results, Raymond James downgraded Lennar stock to “underperform” from “market perform.” Analysts suggested that Lennar’s margins could remain under pressure, citing the company’s use of selling incentives to attract buyers and its elevated on technology and teams.