Cleveland-Cliffs, United States Steel, monday.com And Other Big Stocks Moving Higher On Monday

U.S. stocks traded higher, with the Nasdaq Composite gaining around 100 points on Monday. Here are some big stocks recording gains in today’s session.

• TMC the metals company Inc. TMC shares surged 30% to $1.43 after the company announced a registered direct offering at $2 per share plus warrants.
• United States Steel Corporation X shares gained 26.1% to $28.66. United States Steel late Sunday rejected a buyout offer from rival steel manufacturer Cleveland-Cliffs Inc. CLF but welcomed the latter to participate in a formal review process.
• SoundHound AI, Inc. SOUN gained 19% to $2.3100.
• Consolidated Water Co. Ltd. CWCO jumped 13.3% to $25.64. Janney Montgomery Scott upgraded Consolidated Water from Neutral to Buy.
• Summit Therapeutics Inc. SMMT surged 13.1% to $1.9450.
• monday.com Ltd. MNDY jumped 12% to $174.51. Monday.com reported second-quarter revenue growth of 42% Y/Y to $175.7 million, beating the consensus of $169.2 million.
• AMC Entertainment Hldg Pref Equity Units APE climbed 11.7% to $1.9883 after AMC gained court approval for its revised stock conversion plan.
• Karat Packaging Inc. KRT gained 11.2% to $25.85.
• Archer Aviation Inc. ACHR surged 10.6% to $6.39. Archer closing oversubscribed PIPE as a part of $215 million investment round led by Stellantis.
• FiscalNote Holdings, Inc. NOTE jumped 10% to $2.7850.
• DMC Global Inc. BOOM rose 8.4% to $23.39. Stifel maintained DMC Global with a Buy and raised the price target from $33 to $35.
• Algoma Steel Group Inc. ASTL gained 7.9% to $7.50.
• 2U, Inc. TWOU rose 7.7% to $4.19.
• Applied Optoelectronics, Inc. AAOI jumped 7.6% to $13.34.
• Karat Packaging Inc. KRT gained 7.5% to $24.99.
• Cleveland-Cliffs Inc. CLF rose 5.5% to $15.49. Cleveland-Cliffs publicly announced that on July 28 it presented an offer to U.S. Steel's board to acquire 100% of the company for $17.50 per share in cash and 1.023 shares of Cleveland-Cliffs stock, representing a total consideration value of $35 per share.
• Micron Technology, Inc. MU gained 5.1% to $67.68.

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