Stock futures edged lower Monday morning as Wall Street kicked off the final trading week of August with focus on Nvidia’s upcoming earnings.
Here are some of Monday’s biggest stock movers:
Biggest stock gainers
- Vital Energy (NYSE:VTLE) +17% – Shares jumped after reports surfaced that Crescent Energy (CRGY) is in advanced talks to acquire the smaller Permian Basin producer, with a deal potentially to be announced as soon as this week. No financial terms have been disclosed. Crescent has a market value of about $2.5B, while Vital has a market value of approximately $600M; however, Vital also carries around $2.3B in long-term debt. For FY2024, Vital reported production of 133,845 boe/day, up 38% from 96,591 boe/day in FY2023.
- Nio (NYSE:NIO) +6% – Shares extended gains after a 14% surge on Friday, fueled by the unveiling of the company’s new ES8 SUV on Aug. 21. Priced at 308,800 yuan ($43,000) under a battery subscription plan, the ES8 is among Nio’s most affordable models. For comparison, its premium SUVs are typically priced between 338,000 and 768,000 yuan. The subscription plan reduces upfront costs and offers customers the flexibility to swap or upgrade batteries for a monthly fee. Deliveries are expected to begin in late September.
Biggest stock losers
- Valneva (NASDAQ:VALN) -25% – Shares tumbled after the French drugmaker said the U.S. Food and Drug Administration suspended the license for its chikungunya vaccine, Ixchiq, with immediate effect. The decision follows four reports of serious adverse events consistent with the disease, forcing Valneva to halt all shipments and sales in the U.S. While the company is assessing the potential impact of a permanent withdrawal, it said its financial outlook remains unchanged. Ixchiq generated €7.5M ($8.8M) in sales during the first half of the year, accounting for just over 8% of total product revenue.