The Hidden Gems Driving The S&P 500 Rally

U.S. equities were higher to start the week as the S&P 500 notched its fifth consecutive winning month, up 3.1% in July.

5 S&P 500 Stocks That Posted Gains 

Onsemi 

Shares of chipmaker Onsemi (ON) rose 2.5% and hit an all-time high on the day after the company's second-quarter earnings. Revenue beat estimates on higher demand for its automotive and industrial chips.

Adobe 

Shares in software firm Adobe (ADBE) jumped 3.3% after Morgan Stanley upgraded the stock to overweight. The investment bank said artificial intelligence (AI) acceleration could add a 25% upside potential to the stock.

Disney 

Disney (DIS) shares gained 3.2% after CEO Bob Iger brought back two former executives to advise on Disney's legacy TV operations.

Chevron 

Higher crude oil prices driven by Chinese demand hopes, lifted shares of oil industry stocks, including Chevron (CVX), with shares adding 3%. Chevron also received an upgrade from Goldman Sachs.

Warner Bros. Discovery 

Warner Bros. Discovery (WBD) shares climbed 2.2% after a strong first week for its Barbie movie, which took in more than $500 million worldwide.

5 S&P 500 Stocks That Posted Losses 

Johnson & Johnson 

Shares of pharmaceutical giant Johnson & Johnson (JNJ) dropped close to 4% after a judge dismissed its bankruptcy plans to resolve talcum powder-related lawsuits.

Mettler-Toledo 

Mettler-Toledo (MTD) shares fell 3.9% after reducing its 2023 guidance after a slowdown in order volume from clients in China.

Agilent 

Shares of life sciences firm Agilent (A) lost 3.4% after Barclays downgraded the stock to underweight from equal weight, on concerns about a decline in spending in biopharma industries and slowing business in China.

T-Mobile 

T-Mobile (TMUS) shares fell 2.2% as the stock remains under pressure following last week's earnings release, which showed revenue was lower than analysts had expected amid macroeconomic challenges.

Ford 

Ford shares edged 0.3% lower after a downgrade by Jefferies analysts on concerns about its electric vehicle (EV) losses.

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Originally published on Investopedia.com