Stocks making the biggest moves midday: Best Buy, Altice, Occidental, Moderna and more

Stocks making the biggest moves midday: Best Buy, Altice, Occidental, Moderna and more

Energy stocks – Energy stocks led the S&P 500 on Monday as oil prices climbed amid supply concerns driven by a pick-up in demand as pandemic conditions around the world start to ease. , , and climbed over 6%. added more than 7%. wasn't far behind with more than 5% gains. Financial stocks – Shares of financial institutions also rallied as the yield on the benchmark 10-year Treasury note climbed above 1.5% at one point Monday morning. and rose over 5% while gained about 4%. added more than 3%. Bank stocks tend to benefit from rising interest rates because they allow for higher margins and profits.  – Shares of Best Buy jumped 4.8% after Piper Sandler on the stock to $150 from $146 per share. The new projection implies 43.2% upside from Best Buy's closing price Friday. Piper Sandler called Best Buy "one of our top ideas under coverage" and said Best Buy's new membership program is "one of the most intriguing initiatives BBY has launched in 5+ years." – Shares of the broadband and video company dropped more than 6% after Credit Suisse downgraded the stock to . The Wall Street firm said Altice could experience a short-term