These Stocks Are Moving the Most Today: Boeing, MicroStrategy, Waters, Autodesk, Ansys, Fastenal, Kenvue, and More — Barrons.com

By Joe Woelfel and Mackenzie Tatananni

Stocks turned higher Monday, shaking off President Donald Trump's threat over the weekend to put a 30% tariff rate on imports from the European Union and Mexico beginning Aug. 1.

These stocks were moving:

Boeing gained 1.2%. A fuel switch malfunctionprobably caused last month's fatal crash of Air India flight 171, according to a preliminary report from India's Aircraft Accident Investigation Bureau. The crash doesn't appear to have anything to do with aircraft design or manufacturing. The report said there were "no recommended actions" for Boeing or GE Aerospace, which manufactured the jet's engines. GE shares were up 2%.

MicroStrategy rose 3%, Coinbase Global gained 1.9%, and Robinhood Markets was up 1.1% as the Bitcoin-linked stocks followed the world's largest cryptocurrency higher. At last check, the price of Bitcoin had gained 0.7% to $119,925 over the past 24 hours. It set a record intraday high of $123,193, according to Dow Jones Market Data.

Nvidia traded flat. The artificial-intelligence chip maker closed up 0.5% at $164.92 on Friday, marking a record high. The stock ended last week with a gain of 3.5%. CEO Jensen Huang will be in Beijing on Wednesday. The next catalyst for Nvidia could be securing permission to sell AI chips to China again.

Tesla rose 0.3%, extending gains from Friday. The electric-vehicle maker finished down 0.6% last week and have declined more than 22% this year. Rivian Automotive was down 3.1% after it was downgraded to Neutral from Buy at Guggenheim following softer R1 sales and assumptions for softer long-term R2/R3 sales.

Autodesk climbed 5.9% after it appeared to have abandoned a bid for software company PTC. Last week, Bloomberg reported that Autodesk was weighing a bid for PTC; in a filing on Monday with the Securities and Exchange Commission, the company said it was focused on organic growth with "targeted and tuck-in acquisitions." Autodesk appears to have ruled out an acquisition the size of PTC at this time, Rosenblatt Securities analyst Blair Abernethy said. Shares of PTC declined 1.9%.

Kenvue gained 2.2%. The owner of Band-Aid, Tylenol, and other consumer-healthcare brands said its board was launching a strategic review to realize shareholder value and allow the company to "reach its full potential," including the appointment of Kirk Perry, a director, as interim CEO, replacing Thibaut Mongon.

Synopsys slipped 2% after gaining regulatory approval from China for its $35 billion acquisition of simulation software company Ansys, which was up 2.9%.

Waters declined 12% after Becton Dickinson's biosciences & diagnostic-solutions business agreed to merge with the laboratory instrument and software company in a deal valued around $17.5 billion. Becton Dickinson traded down 0.4%.

Fastenal was up 2.9% after reporting second-quarter earnings and revenue that slightly beat analysts' estimates. Operating-profit margins of 21% were a little better than expected, and were up 0.6 of a percentage point year over year.

Reports are expected later in the week from JPMorgan Chase, Wells Fargo, Citigroup, BlackRock, J.B. Hunt Transport Services, Johnson & Johnson, Bank of America, Goldman Sachs, Morgan Stanley, ASML, Taiwan Semiconductor Manufacturing, Netflix, GE Aerospace, Abbott Laboratories, PepsiCo, American Express, Charles Schwab, and 3M.

Write to Joe Woelfel at joseph.woelfel@barrons.com and Mackenzie Tatananni at mackenzie.tatananni@barrons.com

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