By Callum Keown, Joe Woelfel, and Kit Norton
Stocks were mostly lower Monday with the major indexes apart from the Dow Jones Industrial Average weighed down by struggling Big Tech names. There was, however, stocks exhibited positive breadth on growing optimism around peace talks between the U.S. and Iran. U.S. oil prices continued to slide Monday.
Alphabet fell 5.8%, putting it on pace for its worst daily percentage decline in more than a year and weighing down the Nasdaq Composite. The stock's negative move came after John Jumper, a senior research scientist and Nobel Prize winner, said Friday he was leaving Google DeepMind for artificial-intelligence start-up Anthropic. Analysts told Barron's the departure is bad news for Alphabet and that it could mean the tech giant is losing the "war for talent."
SpaceX declined 10%. Elon Musk's company was on pace for a third straight loss. While SpaceX dropped, Tesla rose 1.8% and was set to add to its 1% gain from Thursday.
Among other big names, Amazon dropped 4.4% and Nvidia moved 0.6% lower, lagging behind some of its main competitors.
Intel stock gained 3.4%, putting shares on track for another record high. The shares jumped 10.6% Thursday to close at an all-time high of $133.99 as President Donald Trump said the semiconductor company won a chip-manufacturing deal with Apple.
Micron added 4.9% as investors remained bullish on the memory-chip maker ahead of its much-anticipated earnings on Wednesday. Like Intel, Micron also closed at a record high Thursday.
Super Micro Computer advanced 15%, leading the S&P 500. The stock remains down more than 20% in June. ON Semiconductor gained 7.4%, also placing it among the best performers on the S&P 500.
Western Digital dropped 1.3% while Seagate Technology declined a fraction. Broadcom was also 3.4% lower. Sandisk added 5.6% and Corning gained 3%.
Salesforce was down 2.3%. Shares of the software company are on pace to close lower for 14 consecutive sessions, their longest ever losing streak, according to Dow Jones Market Data. The stock has dropped more than 28% in that span.
Apogee Therapeutics surged 47%. AbbVie said it plans to acquire all outstanding shares for $135.11 each in cash, in a $10.9 billion acquisition of the Massachusetts-based biotech company. The transaction is slated to close in the third quarter.
Netflix dropped 6.4%, making it the worst performing S&P 500 component. Shares have fallen 16% in June and were on pace to close lower for the fifth time in the past seven trading sessions.
Fervo Energy advanced 5.2%. Wall Street looked pass a wider-than-expected quarterly loss and focused on a new partnership with Nvidia to develop a next-generation digital platform for geothermal drilling operations.
Arcosa rose 7% to $145.27 after Irish building materials giant CRH announced it was acquiring the company for $8.5 billion. The deal values Arcosa at $150 a share, which represents a 25% premium to Arcosa stock's 60-day trading volume-weighted average price as of June 18.
Write to Callum Keown at callum.keown@dowjones.com and Kit Norton at kit.norton@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
June 22, 2026 13:07 ET (17:07 GMT)
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