Stocks Close Higher as Tesla Surges and Heartland Financial Gets Acquired
In a mixed day for the stock market, the three major U.S. indexes closed slightly higher on Thursday. The Dow Jones Industrial Average rose 0.38%, the Nasdaq Composite Index rose 0.35%, and the S&P 500 Index rose 0.32%.
One of the standout performers of the day was Tesla, which surged more than 15%, marking its largest single-day gain since March 2020. Apple also had a strong day, rising more than 2%, while Nvidia and Amazon saw slight gains. On the other hand, Google fell more than 3%, Meta fell more than 2%, and Intel and Microsoft both fell more than 1%. Netflix also ended the day slightly lower.
In other news, Heartland Financial (HTLF) saw a significant boost, rising more than 15% after UMB Financial announced its plans to acquire the rival company for approximately $2 billion.
However, not all companies had a positive day in the market. Clinical-stage pharmaceutical company Annovis Bio Inc. (ANVS) fell nearly 60% after disappointing results from its Phase 2/3 clinical trial of a treatment for patients with mild to moderate Alzheimer’s disease. While the treatment reached a major endpoint, it failed to achieve the other primary endpoint, leading to the steep decline in the company’s stock.
Overall, it was a day of mixed performance in the stock market, with some companies seeing significant gains and others facing challenges. Investors will be closely watching how these trends develop in the coming days.
(Source: Financial Associated Press)