U.S. stocks were lower, with the Dow Jones index falling over 300 points on Monday.
Shares of Honda Motor Co., Ltd. (NYSE:HMC) rose sharply during Monday's session after the company announced it agreed to begin discussions and consideration toward a business integration with Nissan Motor.
Nissan and Honda are planning to establish a joint holding company that will serve as the parent company for both Nissan and Honda. The joint holding parent company will be listed on the Tokyo Stock Exchange and Nissan and Honda will subsequently be delisted. The listing of the joint holding company is scheduled for August 2026.
Honda Motor shares jumped 13.5% to $27.13 on Monday.
Here are some other big stocks recording gains in today's session.
- Rumble Inc. (NASDAQ:RUM) shares jumped 75% to $12.59 after the company announced it has entered into a definitive agreement for a strategic investment of $775 million from Tether.
- Despegar.com, Corp. (NYSE:DESP) gained 32.2% to $19.36. The company announced it will be acquired by Prosus in $1.7 Billion deal.
- Anavex Life Sciences Corp. (NASDAQ:AVXL) surged 32.2% to $11.47 following fourth-quarter results. The company's Alzheimer's Drug Blarcamesine was accepted for a review by European regulators.
- Playa Hotels & Resorts N.V. (NASDAQ:PLYA) gained 28.8% to $12.38 after Hyatt Hotels disclosed it executed an exclusivity agreement to potentially acquire the company.
- Rigetti Computing, Inc. (NASDAQ:RGTI) shares rose 21.8% to $11.42. The company announced it has launched its 84-Qubit Ankaa 3 System and achieved 99.5% Median Two-Qubit Gate Fidelity Milestone.
- Red Cat Holdings, Inc. (NASDAQ:RCAT) surged 14.6% to $12.32.
- D-Wave Quantum Inc. (NASDAQ:QBTS) gained 13.2% to $7.29.
- New Fortress Energy Inc. (NASDAQ:NFE) rose 10.7% to $13.24 after Stifel maintained a Buy rating and raised its price target from $16 to $17.
- FormFactor, Inc. (NASDAQ:FORM) gained 6% to $45.32.
- Broadcom Inc. (NASDAQ:AVGO) rose 3.9% to $228.60.
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