Intuitive Machines' shares surged by 9%, marking a fifth consecutive day of gains, after the company announced it received authorization to proceed on a $600-million multi-satellite communications program. This follows an 8% increase on Friday due to a positive update on its order backlog.
In contrast, EyePoint Pharmaceuticals' stock plummeted approximately 70% after its treatment for wet age-related macular degeneration failed to meet primary goals in a Phase 3 trial. JetBlue Airways saw a 6% drop, continuing a downward trend with a 13% loss over the past six months, exacerbated by a downgrade from Seaport Research Partners.
Onto Innovation's shares rose 5% after Goldman Sachs initiated coverage with a buy rating, reflecting a strong performance this year with over 120% gains. Workday's stock fell 4% following a downgrade from Deutsche Bank after a significant rise of 40% since late July. Alibaba's shares increased nearly 1% on news of a potential $2 billion sale of its game development business.
Memory chip stocks, including Sandisk and Micron Technology, rose after comments from U.S. Commerce Secretary Howard Lutnick regarding opposition to Apple acquiring Chinese memory chips. Intel's shares climbed almost 4% following a significant stock purchase by CEO Lip-Bu Tan.
SoFi Technologies saw a slight increase after Piper Sandler initiated coverage with an overweight rating, while Okta's shares retraced early gains despite a Wells Fargo upgrade, as analysts highlighted the growing importance of identity security in business spending