Stock futures edged up Monday morning as investors looked ahead to the pivotal Federal Reserve meeting later this week, where policymakers are widely expected to deliver an interest rate cut.
Here are some of Monday’s biggest stock movers:
Biggest stock gainers
- Hesai Technology (NASDAQ:HSAI) +4% – Shares surged after the company expanded its production agreement with a major U.S. robotaxi firm, boosting the deal’s value to over $40M with deliveries running through 2026. Under the agreement, Hesai will be the exclusive supplier of both long- and short-range lidar systems, reinforcing its position as a key player in the autonomous vehicle sector, where lidar remains critical for safety and reliability.
- Magna International (NYSE:MGA) +3% – Shares gained after Chinese EV maker XPENG chose the company to assemble two new models for the European market, with serial production slated to begin in Q3 2025. The deal marks the start of a long-term partnership that could extend to future vehicle programs.
- Faraday Future Intelligent Electric (NASDAQ:FFAI) +3% – Shares rose after the EV maker said it is preparing to spin off its crypto flywheel assets into a separately listed company. The plan would create two independent listed entities, FFAI and a new crypto-focused company, designed to operate independently while maintaining strategic synergies. The crypto arm, built around C10 Treasury and other core businesses, is aimed at accelerating the firm’s Web3 strategy and advancing a dual Web2+Web3 growth model.
Biggest stock losers
- Denison Mines (NYSE:DNN) -2% – Shares fell after disclosing a further investment in Foremost Clean Energy (NASDAQ:FMST), acquiring 485K shares at $2.20 each for ~$1.07M under its Investor Rights Agreement. The purchase lifts Denison’s stake to ~2.46M shares, or 19% of Foremost’s outstanding shares (up from 16%), along with ~608K warrants representing ~17% of outstanding warrants. FMST gained 2%.