Autodesk, Broadcom, Tesla Super Micro Computer and Steel Dynamics were the top S&P 500 index gainers on the stock market today. First Solar, Align Technology, Vistra Energy, Match Group and Enphase Energy were the S&P 500's biggest losers on Monday.
S&P 500 Winners
Autodesk stock soared 6.5% to 240.51 on Monday, rebounding above the 200-day line and breaking a downtrend. Shares reclaimed their 50-day line last week in the wake of earnings, but are still well below the official 279.53 buy point. Starboard Value has taken a $500 million stake in ADSK stock, with the activist investor calling on the design-software maker to boost margins and add new board members.
Broadcom stock jumped 5.4% to 1,828.87 on Monday, after vaulting 23% last week on earnings. AVGO stock is now greatly extended.
Tesla stock revved 5.3% higher to 187.44 on Monday, rebounding from the 21-day line to its best close since April 29. On Monday, Tesla announced that the Model 3 Long Range variant now qualifies for the $7,500 IRA tax credit in the U.S., joining the high-end Performance variant. The base Rear-Wheel Drive variant does not. The EV giant has a base with a 198.87 buy point. But TSLA stock is below its 200-day line and in a long downtrend.
Super Micro stock leapt 5.1% to 887.41, rebounding from the 50-day line. SMCI stock tested a downtrend going back to the March 8 peak of 1,229, offering an early buy point. The AI server maker is the top performer on the S&P 500 in 2024, up 212%.
Steel Dynamics stock popped 4.9% to 126.55, rebounding from the 200-day line, but still in a downtrend. Before the open, the steelmaker guided lower on second-quarter earnings. Rival Nucor issued bleak Q2 guidance on Friday.
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S&P 500 Losers
First Solar stock fell 4.5% to 261.33, undercutting the bottom of a recent short consolidation but recovering to close just above its 21-day line. After a big run-up, FSLR stock cleared that short pause on June 11. But shares have tumbled 13.1% in the last three sessions as other solar stocks also sell off.
Align stock declined 4.1% to 245.52, hitting a 2024 low. The Invisalign maker has been sliding again since late March but peaked in September 2021.
Vistra stock lost just over 4% to 84.04, closing fractionally below the 50-day line for the first time since late October. VST stock has skyrocketed in 2024 as power generation firms became AI-adjacent plays. That earned Vistra a place on the S&P 500. But the stock has skidded from a record 107.24 on May 28 as power plays power down.
Match stock sank 3.2% to 30.54. The parent of Match.com and the Tinder dating app fell from a falling 50-day line.
Enphase stock declined 3% to 120.83. with the solar inverter maker extending a sell-off after briefly topping a 139.65 buy point last Wednesday.
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