Market Bright Spots Amid Carnage: These Stocks Are Rallying

The stock market sell-off was widespread early Monday amid concerns of an economic recession, with tech growth plays among the hardest hit. But a few stocks bucked the broader trend and moved higher.

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Nvidia (NVDA), Tesla (TSLA), Apple (AAPL), Amazon.com (AMZN) and other stocks all declined more than 5% — some far more — during market trade on Monday. Meanwhile, Kellanova (K), which was spun off from Kellogg (KLG) in 2023, surged 18.3% on reports that Snickers-parent Mars is in talks to acquire the company.

Kellanova brands include Pringles, Cheez-It, Pop-Tarts, Eggo waffles and others. The Wall Street Journal reported Sunday the deal could value Kellanova at around $30 billion.

Mondelez International (MDLZ) gained 2.4% Monday. Tyson Foods (TSN) advanced 2.1% Monday. Before the open, the meat producer announced fiscal third-quarter earnings soared 480%, well above analysts’ forecasts.

Freshpet (FRPT) slipped 5% Monday after jumping more than 5% before the stock market opened. The company reported a better-than-expected quarterly loss with sales topping analyst expectations Monday morning.

Rail stock CSX (CSX) fell 1% early Monday after previously moving higher before the stock market opened, with second-quarter earnings and revenue set to come in late Monday. Analysts expect Q2 EPS to fall 1-cent compared to a year ago and revenue to remain flat.

Meanwhile, Diamondback Energy (FANG) and Palantir (PLTR), which both report earnings after the close Monday, sank early.

Please follow Kit Norton on X @KitNorton for more coverage.