Supermicro Shares Build on Recent Momentum | Global News Avenue

Major U.S. stock indexes were higher to kick off Thanksgiving week.

Post-election rallies regain momentum after President-elect Donald Trump appoints Hedge fund manager Scott Bessant He chose to lead the Treasury Department.

The S&P 500 rose 0.3%. The tech-heavy Nasdaq also rose 0.3%, while the Dow rose 1% to hit a new closing high.

Ultramicrocomputer (SMCI) shares rose 16%, extending last week’s gains after the server maker submitted a compliance plan related to delays in releasing its annual report and announced that accounting firm BDO would step in as its auditor. Supermicro notched its top daily performance in the S&P 500 for the fifth time in six sessions.

U.S. Treasury yields edged lower, boosting stocks in the solar and real estate sectors. Shares of solar technology provider Enphase Energy (ENPH) rose 8.5%. Shares of major homebuilders also rose on hopes that rising mortgage rates would be mitigated.

Shares of cosmetics retailer Ulta Beauty (ULTA) rose 7.2% on Monday. Peer Bath & Body Works posted a strong earnings report (BBWI), which reported better-than-expected sales and profits while issuing guidance for the quarter that topped consensus expectations. The results and outlook bode well for demand during the key holiday shopping season. Bath & Body Works shares rose more than 16%.

Poole Corporation (poolShares of legendary investor Warren Buffet’s Berkshire Hathaway jumped 6.4% after regulatory filings showed.BRK.A) purchased 400,000 shares of a distributor of swimming pool supplies and equipment. Although pool construction spending has declined amid an uncertain economic environment, Pool Corp. has a strong market share in the industry and demand for maintenance products has helped generate steady revenue.

Shares of energy technology provider GE Vernova (GEV) fell 5.8%, the largest decline among S&P 500 stocks. While the company has received positive reviews from several analysts, who point to opportunities arising from an improving macroeconomic outlook and power demand related to artificial intelligence (AI) applications, GE Vernova remains on track as President-elect Donald Trump vows to reverse policy. Aimed at supporting the renewable energy industry in the face of uncertainty.

ConocoPhillips (COPShares fell 5.1% as the oil and gas exploration and production giant completed its acquisition of Marathon Petroleum Corp. The company announced an offer to holders of debt securities issued by Marathon to exchange them for newly issued ConocoPhillips notes.

Oneke (greatThe natural gas company announced plans to acquire the remaining shares of Enlink Midstream (ENLC) is US$4.3 billion. The announcement raised concerns about dilution, with about 37 million new shares to be issued as part of the deal, as well as uncertainty about the deal’s impact on debt.

Shares of aerospace and defense contractor Lockheed Martin (LMT) dropped nearly 4%. Elon Musk took to his X social media platform over the weekend to question the wisdom of building expensive manned fighter jets like the Lockheed F-35, given the effectiveness and efficiency of drones. Musk takes office as he prepares to take on a leadership role in the incoming Trump administration. Ministry of Government Efficiency.