Biggest stock movers Monday: INTC and CIEN

Stock futures were flat on Monday morning, following a surge in equities last week that was triggered by a 50 basis point interest rate cut from the Federal Reserve.

Here are some of Monday’s biggest stock movers:

Biggest stock gainers

• Intel (INTC) shares advanced as much as 4% after Apollo Global Management (APO) proposed a multibillion-dollar investment in the struggling chipmaker. The potential investment, reportedly worth up to $5B, is under consideration by Intel, though no deal has been finalized and talks could still fall through. This development follows Qualcomm’s (QCOM) recent expression of interest in acquiring Intel, as the company grapples with financial difficulties and ongoing restructuring efforts.
• Ciena (CIEN) shares rose over 3% after Citi double upgraded the stock to Buy from Sell, citing a gradual improvement in excess inventory and weak demand. Analyst Atif Malik expects a rotation into the networking equipment sector over semiconductors and hardware in the next six months, raising FY25/26 EPS estimates by 5% and 10%, respectively. Citi set a price target of $68, implying a 16% upside from the last close.

More on related stocks:

• Asking Doesn’t Mean Buying – News Of Qualcomm Potential Takeover Of Intel
• Intel: Not Worth The $90 Billion Price Tag For Qualcomm
• Intel And Qualcomm: A Solid Merger Match
• Apollo said to offer up to $5B investment in Intel
• Trending stocks this week after Fed delivers jumbo rate cut