Top Movers of the Day

On Monday, U.S. equity benchmarks had a mixed performance, with semiconductor shares continuing their decline from Friday, as investors awaited the Consumer Price Index (CPI) report on Tuesday for insights into Federal Reserve policy and interest rate directions. Nvidia's stock dropped further by 2%, adding to Friday's 5% fall, while other chipmakers also saw declines, signaling a potential pullback after the sector's recent rally. In contrast, Oracle gained 1.5% ahead of its quarterly results. The upcoming CPI report is crucial as January's higher-than-expected readings raised concerns about inflation, which could impact the timing of Fed rate cuts. Analysts expect a 0.4% increase in February's overall CPI and a 0.3% rise in core CPI. Major benchmarks had varied outcomes, with the S&P 500 slightly down, the Dow Jones slightly up, and the Nasdaq Composite down by 0.4%. The 10-year Treasury note yield rose slightly, while the Cboe Volatility Index increased. The Philadelphia Semiconductor Index dropped further, continuing its decline from Friday, despite being up 17% for the year. Other sectors like utilities, energy, and materials showed strength, with some reaching their highest levels in recent months.

Top Gainers

1. INO's stock rose as the company reported better-than-expected Q4 earnings . While revenue missed estimates, EPS beat expectations driven by disciplined expense management. The company also provided a promising 2024 outlook with multiple upcoming clinical readouts and regulatory submissions. This positive news was further supported by a price target hike by Oppenheimer on March 8th citing INO's leadership in DNA medicine and upcoming catalysts.

2. BILI is up today due to a combination of factors, including a strong fourth-quarter earnings report, rising revenue, and a growing user base. Additionally, analysts have praised the company's advertising growth and positive outlook, leading to increased investor confidence and buying activity. However, some analysts remain cautious due to sustainability concerns and regulatory pressures.

3. MRNA is up today due to positive clinical trial results: Moderna announced encouraging data from its Phase 1 trial for a novel cancer vaccine, which boosted the stock.

Top Laggers

1.  CLSK stock price fell on March 11 as Zacks noted CLSK was trading lower after missing analyst estimates for Q4 2023 earnings announced on March 9.

2. JRVR commenced litigation against Fleming Intermediate Holdings to enforce a stock purchase agreement.

3. EQT shares declined on March 2nd due to the company announcing a strategic production curtailment. EQT decided to curtail approximately 1 Bcf per day of gross natural gas production starting in mid-March, 2024 to balance global supply and demand and support prices. This cut in natural gas production disappointed analysts who were expecting the company to maintain output levels