These Stocks Are Moving the Most Today: Super Micro, Nvidia, Spirit Airlines, MicroStrategy, Akero, Macy’s, Apple, Li Auto, and More

Stocks fell Monday ahead of a week filled with congressional testimony from Federal Reserve Chairman Jerome Powell and the monthly U.S. jobs report.

These stocks were making moves Monday:

Super Micro Computer, a maker of servers that help with artificial-intelligence applications, and Deckers Outdoor, the maker of Hoka sneakers and Ugg boots, will join the S&P 500 before the opening of trading on March 18. Shares of Super Micro surged 23%, while Deckers jumped 2.6%. The two companies will replace Whirlpool and Zions Bancorp in the index. Whirlpool rose 0.7% while Zions was up 0.6%.

Shares of Nvidia rose 3.7% after the chip giant closed Friday with a market cap above $2 trillion for the first time. The stock rose from $1 trillion to $2 trillion in 180 trading days, according to Dow Jones Market Data, faster than Apple and Microsoft, the only other companies to end a trading day with a market cap higher than $2 trillion.

Taiwan Semiconductor Manufacturing rose to a record high in Taipei, according to Bloomberg, jumping 5.2% to NT$725. It has risen 22% this year. U.S.-listed shares of Taiwan Semiconductor, the world’s largest third-party chip manufacturer, were rising 4.2%.

Spirit Airlines was falling 14% while JetBlue Airways rose 4.1% after their merger agreement was terminated. A merger of the two would have created the fifth-largest U.S. airline.

Akero Therapeutics jumped 13% after the company released positive test results for efruxifermin, a liver disease treatment.

Macy’s was rising 15% to $20.79 after Arkhouse Management and Brigade Capital said they raised their offer to buy the retailer by almost $1 billion. The private-equity firms raised their bid to $24 a share, or $6.6 billion. Macy’s in late January rejected an offer from Arkhouse and Brigade Capital of $21 a share, or $5.8 billion. Macy’s said it has received the new offer and its board would review the proposal.

Coinbase was rising 7.5% and MicroStrategy jumped 20% as the crypto-related companies benefited from a rally in Bitcoin and other digital assets. At last check, Bitcoin was up 6.7% to $66,411, putting its record high of about $69,000 in sight.

Apple was falling 2.7% after the European Commission fined the tech giant nearly $2 billion for breaking the bloc’s rules on music streaming. Apple said it has appealed the decision.

American depositary receipts of Li Auto declined 12%. The Chinese electric-vehicle maker on Friday unveiled the Mega, the company’s first high-voltage battery-electric vehicle. The car was priced at 559,800 yuan (US$77,785), slightly higher than analysts expected. Li Auto on Friday reported deliveries in February of 20,251 vehicles, up 22% year over year.

DoorDash rose 4.1% to $132.60 after shares of the food-delivery company were upgraded to Outperform from Sector Perform at RBC Capital and the price target was increased to $175 from $130.

Lyft also was upgraded to Outperform from Sector Perform at RBC Capital. The stock rose 5.8% to $17.29. RBC Capital raised its price target on shares of the ride-hailing company to $23 from $17.

Earnings reports are expected Monday from GitLab, AeroVironment, and Stitch Fix.

Reports are scheduled later in the week from Target, Broadcom, Costco, Marvell Technology, CrowdStrike Holdings, Ross Stores, NIO, Box, Nordstrom, JD.com, Campbell Soup, Abercrombie & Fitch, Kroger, MongoDB, and Samsara.

Write to Joe Woelfel at [email protected]