Benzinga - by Lisa Levin, Benzinga Editor. U.S. stocks traded higher, with the Nasdaq Composite gaining around 100 points on Monday. Here are some big stocks recording gains in today’s session.
- TMC the metals company Inc. (NASDAQ: TMC) shares surged 30% to $1.43 after the company announced a registered direct offering at $2 per share plus warrants.
- United States Steel Corporation (NYSE: X) shares gained 26.1% to $28.66. United States Steel late Sunday rejected a buyout offer from rival steel manufacturer Cleveland-Cliffs Inc. (NYSE: CLF) but welcomed the latter to participate in a formal review process.
- SoundHound AI, Inc. (NASDAQ: SOUN) gained 19% to $2.3100.
- Consolidated Water Co. Ltd. (NASDAQ: CWCO) jumped 13.3% to $25.64. Janney Montgomery Scott upgraded Consolidated Water from Neutral to Buy.
- Summit Therapeutics Inc. (NASDAQ: SMMT) surged 13.1% to $1.9450.
- monday.com Ltd. (NASDAQ: MNDY) jumped 12% to $174.51. Monday.com reported second-quarter revenue growth of 42% Y/Y to $175.7 million, beating the consensus of $169.2 million.
- AMC Entertainment Hldg Pref Equity Units (NYSE: APE) climbed 11.7% to $1.9883 after AMC gained court approval for its revised stock conversion plan.
- Karat Packaging Inc. (NASDAQ: KRT) gained 11.2% to $25.85.
- Archer Aviation Inc. (NYSE: ACHR) surged 10.6% to $6.39. Archer closing oversubscribed PIPE as a part of $215 million investment round led by Stellantis.
- FiscalNote Holdings, Inc. (NYSE: NOTE) jumped 10% to $2.7850.
- DMC Global Inc. (NASDAQ: BOOM) rose 8.4% to $23.39. Stifel maintained DMC Global with a Buy and raised the price target from $33 to $35.
- Algoma Steel Group Inc. (NASDAQ: ASTL) gained 7.9% to $7.50.
- 2U, Inc. (NASDAQ: TWOU) rose 7.7% to $4.19.
- Applied Optoelectronics, Inc. (NASDAQ: AAOI) jumped 7.6% to $13.34.
- Karat Packaging Inc. (NASDAQ: KRT) gained 7.5% to $24.99.
- Cleveland-Cliffs Inc. (NYSE: CLF) rose 5.5% to $15.49. Cleveland-Cliffs publicly announced that on July 28 it presented an offer to U.S. Steel's board to acquire 100% of the company for $17.50 per share in cash and 1.023 shares of Cleveland-Cliffs stock, representing a total consideration value of $35 per share.
- Micron Technology, Inc. (NASDAQ: MU) gained 5.1% to $67.68.
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