Here we will introduce companies that have become a hot topic in intraday trading. Nucor, Steel Dynamics — Steel manufacturing stocks rose after trade talks between the U.S. and Canada broke down Friday. Shares of Nucor and Steel Dynamics rose about 2%. Canada plans to target the U.S. steel industry with retaliatory tariffs starting September 8. Expedia Group — Shares of the travel booking site rose more than 4% after Evercore ISI raised its price target to $430 from $375. The company is expected to rise nearly 34% from Friday’s close, and we maintained our rating on the stock at Outperform. Hims & Hers Health — The telemedicine provider’s stock fell 8% after Visa issued a notice to Hims in a consumer dispute related to its weight loss subscription, according to Bloomberg News. The company will be charged an additional $8 fee for each complaint, leading to a bill of about $75,000 due in September, Bloomberg reported, citing internal documents. Trucking Stocks — Stocks of trucking companies fell after President Donald Trump announced that the U.S. would raise Canadian auto tariffs to 50% starting January 1, 2027. JB Hunt Transport shares fell 5% and Knight Swift shares fell more than 3%. Old Dominion Freight Line stock fell 2%. Applied Optoelectronics — Shares of the optical component company fell 11% after it set up an over-the-counter program that allows for sales of up to $600 million “at any time” through Raymond James & Associates and Needham, according to a filing with the Securities and Exchange Commission. RUM Group — Shares of the company that hosts President Trump’s Truth Social platform rose 5%. RUM has signed a $13.7 billion contract to supply artificial intelligence chips to unnamed cloud customers, according to an SEC filing. Nvidia — The chip giant’s stock price fell nearly 2%, snapping a seven-game losing streak and entering its longest losing streak since September 2022. The decline came after Bloomberg News reported over the weekend that Nvidia’s largest customers were told the price of servers using the company’s artificial intelligence chips had increased by more than 15%. Nvidia is scheduled to release its quarterly results after the close of trading on Wednesday. Chipmakers — The iShares Semiconductor ETF (SOXX) fell 2% on Monday after falling 5.5% last week. Shares of Marvell Technology fell 3%, and shares of Advanced Micro Devices and Intel fell more than 2%. Memory Stocks — Many memory storage stocks started the week in the red before the bell. Shares of SanDisk and Western Digital fell more than 5%, and Seagate Technology’s stock fell 6%. Micron Technology’s stock price fell 5%. Cryptocurrency Plays — Bitcoin price rose further after three days of gains topping $79,000 and surging 22%. Strategy shares rose 4%. Riot Platforms and Mara Holdings shares rose 3%. —CNBC’s Nick Wells and Darla Mercado contributed reporting.
