Sandisk Jumps, LVHM Sinks, CoreWeave Trades Higher
Stock Movers13 Apr

Sandisk Jumps, LVHM Sinks, CoreWeave Trades Higher

Today's biggest winners and losers in the stock market.

On this episode of Stock Movers:

- Sandisk (SNDK) shares rallied as much as 11% on Monday following news it’s being added to the Nasdaq 100 Index next week and Citigroup boosted its price target on the stock. The memory storage company’s shares are up nearly 50% this month and trading at a fresh record and are up more than 2,500% from its February 2025 debut.

- LVMH (LVMH) shares declined after sales at its biggest division fell at the start of this year as the war in the Middle East crimped demand for Louis Vuitton and Dior products. Organic revenue at the key fashion and leather goods unit dropped by 2% in the first quarter, LVMH Moët Hennessy Louis Vuitton SE said in a statement Monday, worse than the 0.05% decline expected by analysts. Overall, group organic sales rose by 1%, trailing estimates. LVMH’s business in the region, which represents around 6% of total sales, suffered after a “very positive start to the year,” the Paris-based company said. The war reduced group organic growth by about 1 percentage point for the quarter, it said. The Middle East is “quite a profitable” market for LVMH and demand there is still “very much down”, Chief Financial Officer Cécile Cabanis told analysts in a call. Had it not been for the war, performance of the fashion and leather goods unit would have been “flattish” during the quarter instead of negative, she added.

- CoreWeave (CRWV) shares traded higher on Monday after Macquarie upgraded the cloud-computing provider to outperform from neutral.

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