On this episode of Stock Movers:
- Robinhood (HOOD) is gaining this morning after S&P Dow Jones Indices said it would be added to the S&P 500 Index. Applovin (APP) is higher this morning as well as it will be added. The stocks will be replacing MarketAxess Holdings, Caesars Entertainment and Enphase Energy; the changes are effective prior to the open of trading on Monday, Sept. 22. Bloomberg Intelligence analyst Neil Sipes says “Robinhood’s addition to the S&P 500 will expand its shareholder base, underscoring its profit progress toward incumbent brokers.”
- Strategy Inc. (MSTR) is lower after it was not included in the index. There was hope given the climb in Bitcoin would help propel Strategy, which holds supply of Bitcoin, to the index.
- Loandepot (LDI) is soaring to the highest since November after Citron Research hailed the company as a winner from President Donald Trump’s efforts to help the housing market. Interest-rate sensitive homebuilder stocks also outperformed as yields on 10-year Treasuries slid in the wake of softer-than-anticipated jobs data; the S&P composite builder index advanced as much as 3.2%, to the highest since Dec. 4, led by Dream Finders Homes, LGI Homes, Century Communities and Lennar.
- Oracle (ORCL) is higher after its price target was raised at JPMorgan, Morgan Stanley, and Barclays.