PRISM Market Momentum: Stocks on the Move on Monday; Domino’s Pizza Gains; Intuitive Machines Falls as Odysseus Lunar Vehicle Lands on Side

US equities are mixed on Monday at midday with the S&P 500 and Nasdaq little changed after finishing up more than 1% last week. The small-cap Russell 2000 is outpacing large caps, and other outperformers include semis and semi cap equipment, biotech, EVs, airlines, software, networking and IT equipment, restaurants, and pet products.

Big tech is largely lower, with Google ($GOOGL) the notable decliner. Copper/aluminum, global miners, hospitals, parcels and logistics, hotels, life insurers, telecom, utilities, and REITs are underperforming. Treasuries are weaker, the Dollar index is down (0.1%), Gold is off (0.6%, Bitcoin futures are up +3.6%, and WTI crude is up +1.5%.

Notable gainers at midday are Agiliti ($AGTI) which has risen +29.1% after agreeing to be taken private by THL Partners in a ~$2.5 billion deal, R1 RCM ($RCM) which has soared +27.9% and Domino’s Pizza ($DPZ) which has gained +5.7% on Q4 earnings with EPS beat but revenue light. Analysts are positive on supply chain boost to margins, and see traction in the company’s customer loyalty program.

Today’s decliners are Intuitive Machines ($LUNR) which has lost (37.1%) after its Odysseus lunar vehicle landed on its side, rather than upright. The company’s CEO said the craft remains operational and some mission objectives continue to be met. Alcoa Corp. ($AA) is down (5.5%) after the company proposed to acquire Australia’s Alumina ($AWC) for $2.2 billion in stock at an implied premium of ~13.1%. Alphabet ($GOOGL) is down (4.0%) following comments from Melius Research flagging challenges with the company’s AI image generator, brand damage, and rising competition.

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PRISM Market Momentum: Stocks on the Move on Monday; Domino’s Pizza Gains; Intuitive Machines Falls as Odysseus Lunar Vehicle Lands on Side

Catie Corcoran

Biotech Editor