Biggest stock movers today: DJT, INTC and more

Stock futures edged slightly higher early Monday as investors looked ahead to the Federal Reserve’s much-anticipated policy meeting, where central bankers are widely expected to lower interest rates for the first time since 2020.

Here are some of Monday’s biggest stock movers:

Biggest stock gainers:

• Trump Media & Technology Group (NASDAQ:DJT) shares jumped more than 6% on Monday, building on a 12% rally from Friday’s session, after former President Donald Trump announced during a press conference that he will not be selling his shares when his lockup period ends on September 20. Trump holds 114.75M shares, representing 57% of the company’s stock.
• Intel (NASDAQ:INTC) shares soared around 4% after reports surfaced that the company is set to receive up to $3.5B in federal grants to manufacture semiconductors for the Pentagon. The agreement, expected to be announced as soon as next week, would add to the $8.5B in grants and $11B in loans Intel obtained in March under the Chips and Science Act. This legislation, signed by President Joe Biden in 2022, aims to strengthen domestic semiconductor manufacturing and reduce dependence on Asian suppliers. Intel is currently negotiating additional incentives to support its facilities in Arizona, Ohio, New Mexico, and Oregon, but the company has not yet received any funds, and the award is still considered preliminary.
• Stratasys (NASDAQ:SSYS) shares surged as much as 6.4% after the 3D printer maker’s board authorized a $50M share repurchase program, equivalent to 10% of its current market value. The buyback is part of the company’s broader strategy to enhance shareholder value and aligns with its previously announced restructuring plan aimed at maintaining industry leadership and adapting to evolving market conditions. The restructuring is projected to generate annual savings of about $40M, beginning in the first quarter of 2025. Stratasys intends to finance the repurchase with its cash reserves and ongoing cash flow.
• BrightSpring Health Services (NASDAQ:BTSG) shares rose 2% after the healthcare services group announced Friday that existing shareholder KKR agreed to purchase approximately 11.6M shares from Walgreens (WBA) in a private transaction. According to a Form 4 filing, KKR’s $129.3M purchase was made on September 11 at a price of $11.13 per share. BrightSpring clarified that it is not issuing or selling any shares as part of this deal, which is expected to close around September 16, 2024.