A notable decline was observed in the shares of nuclear power startup Oklo, which fell more than 9% on Thursday. This downturn is part of a broader trend, with the stock losing approximately 15% over the last two days. The drop followed a cautious initiation of coverage by Goldman Sachs, which projected that the stock could see a sell-off within the next year. The investment bank estimates a target price of around $117 for Oklo shares, which closed Thursday at $119. However, after-hours trading showed a slight rebound, with shares up nearly 1%.
In contrast, IBM experienced a significant boost, with shares surging by 5.2% following successful bond trading tests using quantum computing as demonstrated by HSBC. Currently just 5% shy of its June high, IBM has had a strong year with a year-to-date increase of 28%.
The energy sector also showed robust performance, leading the S&P on Thursday with an almost 1% increase. The sector is now 5.7% below its November high but has gained 3.7% over the week. Notably, EQT and Halliburton’s shares have risen more than 9% in the last four days, followed closely by Valero and Phillips 66, which each experienced a 7% increase. Other companies like Marathon Petroleum, Baker Hughes, and ConocoPhillips have seen share prices climb between 5% and 6%. Meanwhile, both Brent and West Texas Intermediate crude prices have risen over 4% during this time frame, with natural gas prices increasing by 2%.
Intel is another stock making headlines, soaring nearly 9% amid reports that Apple might invest in the company, following a separate investment from Nvidia last week. Intel’s shares have risen about 40% in September alone, closing just a penny under the $34 mark but gaining over 1% in after-hours trading to reach $34.47. CNBC stock analyst Adrian van Hauwermeiren noted that Intel could be on track for its first back-to-back double-digit gains since November 2002 and is showing promise for its best monthly performance since January 1987, when it surged by 49%.
As the markets prepare for tomorrow’s session, these stocks will remain on watch, revealing the shifting dynamics across sectors.
