Stock futures fell early Monday morning after Moody’s downgraded the U.S. credit outlook to negative, citing deficits and political polarization.
Here are some of Monday’s biggest stock movers:
Huge stock gain
Brazilian fintech STONCO (NASDAQ:STNE) I saw 6% Then increase the stake Strong Q3 earnings, driven by its Micro Merchant, Small and Medium Business (MSMB) client segment. The company’s TPV rose 19% Y/Y to R$89.6B, primarily due to growth in the MSMB active paying client base.
Boeing (NYSE: B.A) shares soared Above 4% Following successful contracts at Dubai Airshow 2023. A Turkish carrier, SunExpress, has ordered 90 Boeing 737 MAX aircraft to upgrade its fleet. Emirates, a major investor in Boeing, finalized a $52B purchase of the 777-9, 777-8 and 787 aircraft, boosting their growth plans. Emirates’ regional subsidiary, Fly Dubai, has secured a contract to purchase 30 787-9 Dreamliners, underscoring Boeing’s performance and growth prospects in the airline industry. These developments demonstrate Boeing’s renewed confidence in its future. China is also considering ending a trade freeze in a key overseas market for Boeing’s 737 MAX planes.
Harmony Gold Mining Company (NYSE:HMY) stocks Up to 10% A 7% increase in gold production in Q1, reaching 425,130 ounces, was driven by high-grade yields from South African operations and the Hidden Valley mine in Papua New Guinea. The company saw a 33% increase in gold revenue, reaching ZAR14.78B in Q30, driven by increased production and an 18% rise in the price of gold in the South African rand. Harmony Gold improved its all-in sustained costs by 7% to $1,404 an ounce. The company has maintained its target for the financial year ending June 30, targeting an annual production range of 1.38M-1.48M ounces of gold and aiming to keep AISC below ZAR975,000 per kg.
Huge stock loss
Shares of Tyson Foods (NYSE:TSN) decreased by 6% Following a positive Q4 result and weak earnings outlook. The company expects 2024 revenue to be relatively flat compared to 2023, with capital expenditures between $1.0B and $1.5B and between $1.0B and $1.5B. Of note, Tyson (TSN) expects domestic beef production to decline in FY2024.