Investing.com -- U.S. stocks are falling on Monday over worries about the intensifying conflict between Israel and Hamas. A week of inflation data and big bank earnings lie ahead.
Here are some of the biggest U.S. stock movers today:
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Walt Disney (NYSE:DIS) stock rose 1.4% after reports that Nelson Peltz's Trian Fund Management has increased its stake in the entertainment giant and the activist investor is expected to request multiple board seats, including for himself.
- Lockheed Martin (NYSE:LMT) stock rose 8%, Northrop Grumman (NYSE:NOC) stock rose 10.8% and RTX (NYSE:RTX) stock rose 4.6% as these defense stocks gain on the expectation of increased spending given the increased geopolitical tension.
- Exxon Mobil (NYSE:XOM) stock rose 2.9% and Chevron (NYSE:CVX) stock rose 2.6% after oil prices surged as the escalated conflict in the Middle East raised concerns about future global supply.
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Citigroup (NYSE:C) stock fell 0.8% after the banking giant agreed to sell its retail wealth management portfolio in mainland China to HSBC (LON:HSBA) (NYSE:HSBC), down 2.3%.
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United Airlines (NASDAQ:UAL) stock fell 5%, American Airlines (NASDAQ:AAL) stock fell 4.7% and Delta Air Lines (NYSE:DAL) stock dropped 4.5%, with several airlines having halted or reined in some flights to Israel following the escalation of violence between the country's forces and Palestinian group Hamas.
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Spotify (NYSE:SPOT) stock fell 2.5% after Redburn-Atlantic downgraded its stance on the audio streaming service to ‘neutral’ from ‘buy’, estimating the company’s new audiobook offer will be gross margin dilutive.
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Bristol-Myers Squibb (NYSE:BMY) stock fell 0.8% after the pharmaceutical company said it will acquire cancer drugmaker Mirati Therapeutics (NASDAQ:MRTX), down 4.6%, for up to $5.8 billion, diversifying its oncology business.