Stock Movers: CoreWeave Surges, Hershey Falls, Charter Communications Combines with Cox

Top Stock Gainers

• 🚀 CoreWeave shares jumped 22% to a record high after Nvidia disclosed an increased stake of approximately 7% in the cloud-computing provider.
• 🤝 Charter Communications agreed to combine with Cox Communications in a cash and stock deal valued at $34.5 billion, aiming to become the top US broadband operator.
• 🌌 Virgin Galactic shares soared 43%, reaching a record intraday gain, driven by positive first-quarter results and plans to charge more for future space tourism flights with its new Delta spacecraft.

Notable Stock Decliners

• 📉 Applied Materials, a chip equipment maker, closed down about 5% after issuing a lackluster forecast for the current period, citing potential impacts from the US trade dispute with China.
• 🍫 Hershey shares fell 2.3%, mirroring declines in other confectionery companies like Mondelez, due to surging cocoa prices and renewed supply fears from Ivory Coast.
• 🍽️ Cava declined 2.3% after reporting first-quarter results, with analysts suggesting the fast-casual chain needed stronger performance to justify its premium valuation.

Market Trends and Yields

• 📈 Cocoa prices reached a three-month high, driven by slow shipments from Ivory Coast and dry weather threatening future output, impacting chocolate manufacturers.
• 📊 US Treasury yields continued to rise for a third consecutive week, with the 2-year yield nearing 4% and the 10-year yield flirting with 5%, reflecting a shift from mid-April's downward trend.