S&P 500 top movers: ALXN gains 6%, HAS slumps on disappointing Q2 revenue

  • Wall Street starts last week of July on strong footing.
  • ALXN is up 6% on Monday as the top-gainer.
  • Hasbro Inc shares slide as company reveals disappointing Q2 figures.

Major equity indexes in the US started the last week of July on strong footing as investors look to key second-quarter earnings reports and remain hopeful about the next coronavirus relief bill. As of writing, the S&P 500 Index (SPX) was up 0.55% on a daily basis at 3,233 points.

Among the 11 major S&P 500 sectors, the Technology Index and the Materials Index both gain more than 1%. On the other hand, the defensive Utilities Index is down 1.15%.

S&P 500 top movers

Alexion Pharmaceuticals Inc (ALXN) shares are up nearly 6% on the day despite a lack of any specific developments related to the drugmaker. Among the other top gainers, KLA Corp (KLAC) shares are up 5% at $197.40 after Citigroup raised its price target to $214 from $178.

On the other hand, Hasbro Inc (HAS) shares are suffering heavy losses after the company announced that the net revenue declined by 12.6% to $860.3 million in the second quarter and missed analysts' estimate of $992.2 million. At the moment, HAS is down 7.2% on the day at $71.95.

Meanwhile, the resurgence of coronavirus cases in Europe seems to be weighing on cruise liners' shares. As of writing, Carnival Corp (CCL) and Norwegian Cruise Line Holdings Ltd (NCL) were both down more than 6% on a daily basis.

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