Stocks on the move: Global Payments, Aspen Neuroscience, Illumina
SPY•Global Payments rose 11.4% on reported takeover interest, Aspen Neuroscience fell in its Nasdaq debut, and Illumina dropped 18.7%; the Nasdaq was down 3.04% at 1:30 p.m. EDT.
1. Market declines
At 1:30 p.m. EDT, the Dow was down 0.95%, the S&P 500 fell 1.83% and the Nasdaq Composite dropped 3.04%. The Nasdaq had reached its lowest level in nearly three months as Amazon's AI spending plans and Intel's cash-burn warning heightened concerns about AI buildout costs and returns.
2. Notable stock moves
Global Payments gained 11.4% after a report of takeover interest from CD&R. Illumina fell 18.7% after missing third-quarter revenue estimates, while Aspen Neuroscience fell in its Nasdaq debut after raising $141 million in its U.S. IPO.
