Check out the companies that made the biggest moves during the day: Financials — The S&P 500’s financial sector was the worst performer in the entire market, down more than 3% in intraday trading. Alternative asset managers KKR and Blackstone fell about 9% and 7%, respectively, after activist hedge funds Saba Capital Management and Cox Capital Partners said they planned tender offers to acquire stakes in three Blue Owl Credit Funds. Blue Owl’s stock price has recently fallen more than 5%. American Express fell more than 7% and Goldman Sachs fell nearly 4%. Cybersecurity — Concerns about artificial intelligence rocked cybersecurity stocks late last week after Anthropic added new security features to its Claude AI. The Global X Cybersecurity ETF (BUG) fell 4%. CrowdStrike and Zscaler fell 10%, while Fortinet and Octa fell more than 5%. International Paper — The packaging and pulp products maker fell more than 5%. Fast Market RISI announced on Friday that domestic containerboard prices fell by $20 per ton in February, according to a Dow Jones report. Smurfit Westlock and Packaging Corporation of America each fell more than 6%. Docusign — Shares of the contract management platform fell nearly 8% after Jefferies downgraded it from buy to hold on Monday. The investment bank wrote that it believes a reacceleration of double-digit growth won’t happen soon and that DocuSign’s new AI-powered contract management platform will need to prove itself. DoorDash — The delivery platform fell 6%. Due to the East Coast snowstorm, DoorDash had to temporarily suspend operations in multiple locations, including New York and Philadelphia. ImmunityBio — The San Diego-based clinical-stage immunotherapy company soared 12%. ImmunityBio reported 700% year-over-year revenue growth, expanded approval of Anktiva for lung cancer, global label expansion plans, and global commercial partnerships. Veris Residential — The real estate investment trust, which owns office space and other real estate primarily in the Northeast, has agreed to be acquired by a consortium led by Affinius Capital for $19 per share in cash. Bellis rose 12% on Monday. Novo Nordisk , Eli Lilly — Novo Nordisk fell 15% after its weight loss drug Kaglisema failed to match that of Eli Lilly in a recent trial. Eli Lilly shares rose nearly 5%. Domino’s Pizza — The pizza chain rose 3% after U.S. fourth-quarter sales rose 3.7%, beating the FactSet consensus estimate of 3.1%. Overall revenue for the fourth quarter also exceeded expectations, coming in at $1.54 billion versus expectations of $1.52 billion. Fortune Brands Innovations — Shares rose about 2% after the Wall Street Journal reported that investor Ed Garden has invested in the maker of Moen faucets and MasterLock padlocks to replace the company’s next CEO. VF Corp — Shares of VF Corp, a global apparel, footwear and accessories company, fell nearly 8% after it was downgraded by JPMorgan. Analysts said Vans’ brand recovery could take longer, with sales to wholesalers and direct retailers likely suffering double-digit declines. Software Stocks — Several software stocks fell after being downgraded to Hold by Jefferies. The investment bank noted that stocks exhibit more persistent risk and negative sentiment based on analysts’ artificial intelligence risk framework and other company-specific factors. Monday.com, Freshworks and Workday all fell about 8%. ARCELUX — Biotech stocks soared 78% after Gilead Sciences announced Monday that it had agreed to buy Arcelx for $7.8 billion in cash, or $115 per share, plus one contingent value right at $5 per share. Arcellx focuses on immunotherapy for patients with cancer and other difficult diseases. The transaction is expected to close in the second quarter. Airline stocks — United Airlines and American Airlines were down about 5%, and Delta Air Lines was down about 4%. Airlines canceled thousands of flights across the United States due to the blizzard on the East Coast. About 20 inches of snow fell on Long Island, New York, according to the New York Times. — With additional reporting by CNBC’s Michelle Fox, Darla Mercado, Davis Giangiulio and Liz Napolitano
