S&P 500: Carnival, AI Giants Broadcom and Oracle lead the big winners

carnival (CCL), catalent (CTLT), Norwegian cruise line (NCLH), Broadcom (AVGO) and oracle (ORCL) were the S&P 500 Index's biggest gainers in the stock market today. Nasdaq (NDAQ), KeyCorp (BUTTON), T Rowe Price (TROW), citizen finances (CFG) and CME group (CME) were the S&P 500's biggest losers on Monday.

The S&P 500 gained 0.9% on Monday, surpassing the August 2022 peak and hitting a 52-week high.

S&P 500 winner

CCL stock rose 12.45% to 14.72, a 13-month high. Shares are now being extended after rising above a buy point of 12.62 last week. Bank of America upgraded Carnival's stock to a “buy” and raised its price target to 20 from 11 on a sharp rise in cruise demand.

CTLT shares rose 10.2% to 42.73 after Catalent's much-lagged Q3 results came in better than expected. But Catalent posted losses and revenue plummeted 19% on operational issues. The contract medical manufacturer shortened its guidelines. Catalent stock has fallen sharply from an intraday high of 74.49 on March 3rd.

NCLH stock rose 7.2% to 18.41, breaching the cup basis buy point of 18.12 and hitting a 52-week high. BofA increased its price target on Norwegian Cruise Line stock to 19 from 17. (BofA also increased its price target on royal caribbean (RCL) from 82 to 95. RCL stock, which has led cruise and travel stocks for the past few weeks, climbed 2.5% to an 18-month high.)

AVGO stock rose 6.3% to 855.36, making it a record close but well below the May 30 downtrend daily high of 921.78. Broadcom stock is exhibiting a 3-week tight pattern with an official buy point at the all-time high of 921.78. But existing holders could have added a few stocks as that would have eliminated most of the pattern. The European Union is expected to conditionally grant Broadcom's approval Vmware (VMW) takeover, Reuters reported on Monday.

AVGO shares are on SwingTrader.

ORCL shares rose 6% to 116.43, a new all-time high. Wolfe Research has upgraded Oracle stock to “Outperform” with a price target of 130 and expects strong forecasts and “AI narrative tailwinds” to result in a higher EPS multiple for the software giant.

After the market close, Oracle earnings beat guidance for the fiscal fourth quarter, driven by rapid cloud-related growth. The ORCL share rose slightly in after-hours trading.


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S&P 500 losers

NDAQ stock plunged 11.8% to 51, hitting near a 10-month low. The Nasdaq exchange operator will buy Thoma Bravo-owned software company Adenza for $10.5 billion, its largest acquisition ever. Nasdaq is increasingly turning to technology. Used by banks and brokers, Adenza's software helps with trade administration, risk management and post-trade processing.

KEY lost 4.3% to 10.22, falling back below its 50-day moving average. CFO Clark Khayak said second-quarter net interest (NII) income is likely to decline 12%, compared with the 4% to 5% he forecast on the first-quarter earnings call. In particular, KeyCorp's NII warning in March helped spark this year's regional banking crisis.

KeyCorp's warning on Monday hit regional bank stocks that had rallied.

TROW shares fell 3.3% to 110.16 after a four-day winning streak, putting it back below the 200-day moving average. Early Monday, T. Rowe Price reported that interim assets under management fell to $1.346 trillion as of May 31 from $1.353 trillion at the end of April, on net outflows of $9.6 billion.

CFG shares fell 3.3% to 27.41. Citizens Financial fell below the 50-day mark, as did KeyCorp.

CME shares fell 3% to 179.35, undercutting the 200-day moving average.

Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more.

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