Before the announcement, take a look at the companies making headlines: Toll Brothers – Shares of the homebuilder rose 1.3% after Goldman Sachs upgraded the stock to neutral from sell. Goldman noted near-term benefits from adaptations and upgrades, as well as continued outpacing in new home sales. Best Buy – Shares rose more than 3% after UBS upgraded to neutral. New products and a refresh cycle in home appliances could strengthen the stock, the investment bank said. Autodesk — The software company added 4% on news that activist fund Starboard Value had acquired a $500 million stake in the company. Starboard is considering filing a lawsuit over its delay in disclosing information about its internal investigation. AMC Networks — The cable TV network fell 10% after filing to sell $125 million of convertible senior notes due 2029 in a private placement. Shattuck Labs — Biotech shares fell 1% after BTIG downgraded its rating to neutral from buy. While clinical trial data released on Friday showed “encouraging effectiveness”, BTIG said there was “uncertainty” in one area that was not expected to resolve until the second half of 2025. Louisiana Pacific Corp. – The building materials maker was down 3% early Monday morning. Goldman Sachs downgraded the stock from neutral to sell, citing macroeconomic and competitive pressures. Broadcom — Shares of the chip maker rose more than 3%, extending gains from Friday. Broadcom shares rose 31% in June. Last Wednesday, the company released earnings for its fiscal second quarter. — CNBC’s Alex Harring, Sarah Min and Scott Schnipper contributed reporting.
