Stitch Fix Inc (NASDAQ:SFIX) rallied after delivering stronger-than expected earnings. The online clothing subscription service posted earnings of $0.12 per share, compared with the $0.05 average forecast.
The stock gained 22% to $32.83 in extended trading.
Apple Inc (NASDAQ:AAPL) stock got a shot in the arm Monday thanks to an upgrade from Bank of America. The firm raised the stock to Buy from Neutral and changed its target price to $210 per share, a more than 17% premium over its closing price.
The share price grew 3.5% to close at $178.90.
Shares of Boeing Co (NYSE:BA) swooned following a fatal crash of the company’s 737 Max 8 aircraft in Ethiopia this weekend, the second deadly crash the airplane model has suffered in six months. China and Indonesia have each joined Ethiopia in grounding their 737 Max 8 planes, according to a Bloomberg report.
The stock closed down 5.4% at $399.89.
Mellanox Technologies Ltd (NASDAQ:MLNX) reached an agreement to be acquired by computer gaming company Nvidia Corporation (NASDAQ:NVDA) for $6.9 billion in cash, or $125 per share, the companies said. The Israeli company’s computer chips would be a boon to Nvidia, which outbid Intel Corporation (NASDAQ:INTC) to acquire the chip designer, according to Reuters.
Shares of Mellanox rose 7.8% to finish at 117.89.
Nvidia stock also made gains following news of the Mellanox deal. The agreement is expected to immediately boost non-GAAP gross margin, adjusted earnings per share and free cash flow, the company said in a statement, and should be completed by the end of the year.
Shares of Nvidia added nearly 7% to end the day at $161.14.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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