U.S. stocks traded higher midway through trading, with the S&P 500 gaining more than 1% on Monday.
The Dow traded up 1.27% to 44,141.11 while the NASDAQ climbed 1.82% to 21,026.44. The S&P 500 also rose, gaining, 1.37% to 6,323.33.
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Leading and Lagging Sectors
Communication services shares jumped by 2.3% on Monday.
In trading on Monday, energy stocks fell by 0.6%.
Top Headline
ON Semiconductor Corp. (NASDAQ:ON) shares dipped more than 12% on Monday after the company reported its fiscal second-quarter 2025 results.
The company reported a quarterly revenue decline of 15.36% year-on-year (Y/Y) to $1.47 billion, topping the analyst consensus estimate of $1.45 billion. The adjusted EPS of 53 cents is in line with the analyst consensus estimate.
Onsemi expects third-quarter adjusted revenue of $1.465 billion-$1.565 billion, compared to the analyst consensus estimate of $1.490 billion. The company expects quarterly adjusted EPS of 54 cents to 64 cents (compared to the analyst consensus estimate of 58 cents) and an adjusted gross margin of 36.5%-38.5%.
Equities Trading UP
- BT Brands, Inc. (NASDAQ:BTBD) shares shot up 103% to $3.3201. BT Brands is pursuing strategic initiatives, including a potential merger.
- Shares of Verb Technology Company, Inc. (NASDAQ:VERB) got a boost, surging 171% to $25.78 after the company announced a $558 million private placement.
- CommScope Holding Company, Inc. (NASDAQ:COMM) shares were also up, gaining 91% to $14.88 after Amphenol announced it will acquire CommScope for $10.5 billion.
Equities Trading DOWN
- Replimune Group, Inc. (NASDAQ:REPL) shares dropped 26% to $5.59 after the FDA unexpectedly rejected its skin cancer treatment, triggering a stock plunge and a wave of investor outrage.
- Shares of TG Therapeutics, Inc. (NASDAQ:TGTX) were down 15% to $29.84 after the company reported worse-than-expected second-quarter EPS and sales.
- Krystal Biotech, Inc. (NASDAQ:KRYS) was down, falling 14% to $135.23 following the release of its second-quarter financial results.
Commodities
In commodity news, oil traded down 1.5% to $66.30 while gold traded up 0.8% at $3,425.70.
Silver traded up 1.1% to $37.340 on Monday, while copper rose 0.2% to $4.4425.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.90%, while Spain's IBEX 35 Index surged 1.84%. London's FTSE 100 rose 0.66%, Germany's DAX 40 gained 1.42% and France's CAC 40 rose 1.14% during the session.
Asia Pacific Markets
Asian markets closed mostly higher on Monday, with Japan's Nikkei 225 falling 1.25%, Hong Kong's Hang Seng gaining 0.92%, China's Shanghai Composite gaining 0.66% and India's BSE Sensex rising 0.52%.
Economics
U.S. new orders for manufactured goods declined 4.8% in June versus a revised 8.3% gain in March.
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