MarketCatalystChipotle fell about 4% and Starbucks rose about 1.6% after Starbucks flatly denied a takeover, days after a Financial Times report sent Chipotle up as much as 8.5% and Starbucks down as much as 6.7%.
Both stocks fell after Mizuho downgraded them, cut price targets to $5 and $4, and sharply lowered the odds of a fast exit from conservatorship, citing higher mortgage rates, FHFA balance sheet moves and credit scoring changes.
The iShares Semiconductor ETF fell about 2% by midday Monday as memory names slid on China's CXMT news and AI optical suppliers Lumentum and Applied Optoelectronics dropped 7% to 10%, while Nvidia and TSMC held up better.
Samsung and SK Hynix fell more than 4% in Seoul, and SanDisk, Micron and Seagate dropped 3% to 6% in U.S. trading after China's CXMT reported progress on a denser 4F² DRAM design. Here is what was announced, what is unproven, and how each storage name moved.
Salesforce rose about 4% after Bank of America upgraded it to Buy, Micron and Intel slipped, and Brent crude hovered near $106 as Strait of Hormuz tensions lingered. Plus this week's economic calendar, led by Wednesday's CPI and the start of bank earnings.
All major U.S. indices closed higher on Oct 9, led by a 0.87% surge in the Dow and solid gains across the S&P 500 and Nasdaq. A rally in gold, a dip in volatility and upbeat sector performance kept th