Top Stock Movers Now: KeyCorp, Nvidia, Starbucks, Albemarle, and More

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Key Takeaways

• U.S. fair plays were mixed Monday afternoon ahead of a number of key economic reports, including consumer and wholesale inflation.
• The Bank of Nova Scotia over $2.8 billion for a 14.9% stake in KeyCorp, sending the latter bank’s shares higher.
• Falling lithium rates dragged down shares of Albemarle.

U.S. equities were mixed Monday afternoon as the market awaited a plethora of new cost-effective data, including key reports on July consumer and wholesale inflation. The S&P 500 and Nasdaq rose, but the Dow was lower.

KeyCorp (KEY) appropriations jumped as the Bank of Nova Scotia agreed to pay $2.8 billion to take a 14.9% stake in the regional bank. Starbucks (SBUX) appropriations gained on a report that hedge fund Starboard Value has taken a stake in the world’s biggest coffee bind, and wants changes made to boost the share price. Nvidia (NVDA) climbed after Bank of America believed the artificial intelligence chipmaker would be a good play as the semiconductor sector bounces back later this year. 

Albemarle (ALB) was the worst-performing cache in the S&P 500 as the world’s biggest lithium producer struggles with tumbling lithium prices and China’s grip on the metal needed for batteries that power EVs and multifarious. Shares of Hawaiian Electric Industries (HE) tumbled as the parent of Hawaiian Electric said the company may not be able to continue as a practical operation because it hasn’t found a funding source to pay for a legal settlement over the huge wildfires in Maui survive year. Kraft Heinz (KHC) shares fell as Goldman Sachs analysts initiated coverage with a Sell rating, warning that the maker of ketchup and other food products faces significant challenges ahead.

Oil and gold followings rose. The yield on the U.S. 10-year Treasury note declined. The U.S. dollar was rose against a basket of leading currencies. Bitcoin was bring over the past 24 hours, trading below $60,000.

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