The stock market sell-off was widespread early Monday amid concerns of an economic recession, with tech growth plays among the hardest hit. But a few stocks bucked the broader trend and moved higher.
Nvidia, Tesla, Apple, Amazon.com and other stocks all declined more than 5% — some far more — during market trade on Monday. Meanwhile, Kellanova, which was spun off from Kellogg in 2023, surged 18.3% on reports that Snickers-parent Mars is in talks to acquire the company.
Kellanova brands include Pringles, Cheez-It, Pop-Tarts, Eggo waffles and others. The Wall Street Journal reported Sunday the deal could value Kellanova at around $30 billion.
Mondelez International gained 2.4% Monday. Tyson Foods advanced 2.1% Monday. Before the open, the meat producer announced fiscal third-quarter earnings soared 480%, well above analysts' forecasts.
Freshpet slipped 5% Monday after jumping more than 5% before the stock market opened. The company reported a better-than-expected quarterly loss with sales topping analyst expectations Monday morning.
Rail stock CSX fell 1% early Monday after previously moving higher before the stock market opened, with second-quarter earnings and revenue set to come in late Monday. Analysts expect Q2 EPS to fall 1-cent compared to a year ago and revenue to remain flat.
Meanwhile, Diamondback Energy and Palantir, which both report earnings after the close Monday, sank early.
Please follow Kit Norton on X @KitNorton for more coverage.
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