DKosig
Stock futures edged lower in the early hours of Monday after Moody’s downgraded the U.S. credit outlook to negative, citing deficits and political polarization.
Here are some of Monday’s biggest stock movers:
Biggest stock gainers
Brazilian fintech StoneCo (NASDAQ:STNE) saw a 6% increase in stock after strong Q3 revenue, driven by its micro-merchant, small, medium business (MSMB) client segment. The company’s TPV rose 19% Y/Y to R$89.6B, primarily due to the growth in the MSMB active payment client base.
The Boeing Company (NYSE:BA) shares rose over 4% as China considers ending a commercial freeze in a crucial overseas market for Boeing’s 737 MAX aircraft. The terms of a potential agreement are still under discussion and could change or fall apart before President Biden and President Xi meet. Boeing has not made significant sales of its 737 MAX narrowbody jets in China since at least 2018, before two crashes led to a global grounding of the model and deteriorating relations between the two governments. Restarting deliveries could help Boeing reach its target of shipping 375-400 of the planes this year.
Harmony Gold Mining Company (NYSE:HMY) shares surged as much as 10% after it reported a 7% increase in gold production in Q1, reaching 425,130 ounces, driven by higher grade yields from South African operations and the Hidden Valley mine in Papua New Guinea. The company also saw a 33% increase in gold revenue, reaching ZAR14.78B in Q30, driven by increased production and an 18% rise in gold prices in the South African rand. Harmony Gold also improved its all-in sustaining costs by 7%, dropping to $1,404 per ounce. The company maintains its target for the fiscal year ending June 30, aiming for an annual production range of 1.38M-1.48M ounces of gold and aiming to keep AISC below ZAR975,000 per kilogram.