Synopsys, Moderna, Strategy, Q32 Bio, Wolfspeed: Stocks Making The Biggest Moves Today

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Synopsys shares were up nearly 4% in Monday’s midday session after AI bellwether Nvidia announced a $2 billion investment in the company.

  • Moderna shares were down around 6% in Monday’s midday trade after the U.S. Food and Drug Administration outlined stricter vaccine approval rules in an internal memo last week.
  • Strategy shares were down more than 11% in Monday’s midday session after Bitcoin prices fell below $84,000.
  • Q32 Bio shares were up more than 100% in Monday’s midday trade after the company announced the sale of its Phase 2 complement inhibitor to Akebia Therapeutics.

U.S. equities were down in Monday’s midday trade, beginning December on a negative note, even as Wall Street keeps an eye out for commentary from Federal Reserve Chair Jerome Powell later in the day.

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Tom Lee, Managing Partner at Fundstrat Global Advisors, on Monday laid out his bull thesis for the S&P 500 heading into the year-end, listing seasonal tailwinds and a boost to equities from the Fed’s monetary policy decision as the two reasons behind his optimism.

“I think the biggest tailwind that’s going to emerge in the next couple of weeks is around the central bank. The Fed is set to cut in December,” Lee said.

According to data from the CME FedWatch tool, the probability of a 25-basis-point rate cut in December has increased to 87.6%, up from 84.4% a week ago.

The SPDR S&P 500 ETF (SPY), which mirrors the S&P 500 index, was down 0.28% at the time of writing, while the Invesco QQQ Trust (QQQ), which mirrors the Nasdaq 100 index, fell 0.34%. The SPDR Dow Jones Industrial Average ETF Trust (DIA), which tracks the Dow Jones Industrial Average, declined 0.42%.

Here are the top stocks making the biggest moves in Monday’s midday trade:

Synopsys Inc. (SNPS)

Synopsys shares were up nearly 4% in Monday’s midday session after AI bellwether Nvidia Corp. (NVDA) announced a $2 billion investment in the company. As part of the partnership, Nvidia’s AI capabilities will be paired with Synopsys’ engineering software to help in designing, simulating, and verifying products faster.

SNPS stock is down 11% year-to-date.

Moderna Inc. (MRNA)

Moderna shares were down around 6% in Monday’s midday trade after the U.S. Food and Drug Administration (FDA) outlined stricter vaccine approval rules in an internal memo last week, according to a report by Barron’s. Novavax Inc. (NVAX) and BioNTech SE’s (BNTX) shares were down 4% each.

MRNA stock is down 42% year to date.

Strategy Inc. (MSTR)

Strategy shares were down more than 11% in Monday’s midday session after Bitcoin (BTC) prices fell below $84,000. At the time of writing, Bitcoin was down nearly 8% over the past 24 hours. The decline in Bitcoin prices triggered nearly $1 billion in liquidations in the last 24 hours.

MSTR stock is down 45% year to date.

Q32 Bio Inc. (QTTB)

Q32 Bio shares were up more than 100% in Monday’s midday trade after the company announced the sale of its Phase 2 complement inhibitor, ADX-097, to Akebia Therapeutics Inc. (NASDAQ: AKBA). As part of the deal, Q32 is eligible to receive up to $592 million upon achievement of certain milestones, including $12 million upfront.

QTTB stock is up 27% year-to-date.

Wolfspeed Inc. (WOLF)

Wolfspeed shares were up around 8% in Monday’s midday session after the company announced the receipt of $698.6 million in cash tax refunds from the Internal Revenue Service (IRS).

WOLF stock is up 21% year to date.

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