Norwegian Cruise Line, On Semiconductor, Loews Corp., Nvidia and C.H. Robinson Worldwide were the top S&P 500 index gainers on the stock market today. Newell Brands, Global Payments, PNC Financial Services Group, Citizens Financial Group and KeyCorp were the S&P 500's biggest losers on Monday.
On Semiconductor, Norwegian Cruise Line, Loews and Global Payments all reported earnings early Monday. PNC Financial and Citizens Financial lost out to JPMorgan Chase in the bidding for First Republic. FRC stock likely would have been the S&P 500's biggest loser Monday, didn't trade in Monday's regular session. Shares plunged 34% in the premarket before being halted.
The S&P 500 index closed a fraction lower on Monday after pulling back from just shy of an eight-month high.
S&P 500 Winners
NCLH leapt 8.9% to 14.54, regaining the 50-day line and 200-day. Shares are working on an 18.22 buy point from a base next to a failed breakout. Norwegian Cruise Line reported a smaller-than-expected Q1 loss and was bullish about bookings for 2023 and beyond.
ON stock jumped 8.85% to 78.33 on Monday, reclaiming the 50-day line. Shares are close to a trendline entry in a consolidation with an official buy point of 87.65. On Semiconductor reported better than-expected first-quarter earnings and guided up for Q2.
Loews stock popped 4.45% to 60.13, retaking the 50-day line and breaking above a trendline entry. The official buy point is 63.34. Loews reported a third straight quarter of accelerating earnings and sales growth.
NVDA stock ran up 4.2% to 289.10. Shares cleared a four-weeks-tight pattern with a 281.20 buy point after nearly testing the 10-week line last week. Nvidia stock is on IBD Leaderboard and was Monday's IBD Stock Of The Day.
CHRW stock climbed 3.5% to 104.43. Shares of the trucking and logistics firm broke trendlines from a consolidation going back to early February or a longer base starting in late August.
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S&P 500 Losers
NWL plunged 11% to 10.81, hitting its worst levels since the March 2020 Covid lows. On Friday, Newell Brands reported a wider-than-expected loss and guided low for Q2.
GPN stock tumbled 8.6% to 103, back below the long-sliding 200-day line. Global Payments beat views and lifted its 2023 guidance. But the payments firm said CEO Jeff Sloan will step down on June 1, an unexpected move. COO Cameron Bready will take over.
CFG stock sank 6.85%. PNC stock tumbled 6.3% after hitting a six-week high on Friday. Both large regional banks skidded after JPMorgan won out for First Republic.
It was a bad day for regional bank stocks overall.
KEY stock slumped 4.8%, not from undercutting a recent multiyear closing low.
Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more.
