Stocks finished lower Monday as markets came off record highs that were spurred by optimism over the potential for a near-term coronavirus vaccine and relief for the U.S. economy.
Here are some of the top gainers for Monday
1. MicroStrategy | Percentage Increase 26%
Microstrategy (MSTR) advanced after Andrew Left's Citron Research recently said the enterprise analytics software company was the best way to own bitcoin in the stock market. The company owns more bitcoin than any other publicly traded company, Citron said. In the third quarter, MicroStrategy invested $425 million to purchase 38,250 bitcoins, which have a current market value of more than $700 million.
2. IHS Markit | Percentage Increase 7%
IHS Markit (INFO) climbed after S&P Global (SPGI) agreed to a $44 billion takeover of the rival economic and financial data company in the largest merger deal of the year. S&P Global will own around 67.75% of the combined company once the deal is completed in the second half of next year.
3. Apollo Endosurgery | Percentage Increase 73%
Apollo Endosurgery (APEN) jumped after Piper Sandler analyst Adam Maeder upgraded shares of the medical device company to overweight from neutral with a price target of $5, up from $2. The analyst said he liked the stock's risk/reward profile with the approval of a coronavirus vaccine "becoming seemingly closer each day."
4. AMCI Acquisition | Percentage Increase 13%
AMCI Acquisition (AMCI) rose after the company recently said that Advent Technologies -- with which it entered a definitive merger agreement -- agreed to collaborate with Los Alamos National Labs, University of Texas at Austin, Rensselaer Polytechnic Institute, University of New Mexico and Toyota Motor North America R&D (TM) to continue developing high-temperature polymer electrolyte membrane fuel cell technology for the automotive industry.
5. China Automotive Systems | Percentage Increase 174%
China Automotive Systems (CAAS) more than doubled after the Wuhan, China, company said that so far this year it has shipped about 120,000 of its electric power-steering products for use in electric vehicles made in China. The company said it expects to sell more than 140,000 units of its steering products this year, and about 200,000 units next year.