S&P 500 top movers: Tapestry Inc shares climb to multi-month highs, gain more than 9%
- S&P 500 gains more than 1% on Monday.
- Tapestry Inc (TPR: NYSE) shares trade at highest level since early June.
- BofA price target cut weighs on Kroger Co (KR: NYSE).
Wall Street's main indexes started the first day of the week sharply higher and remain on track to post strong daily gains. The S&P 500 Index (SPX), which dropped to its lowest level since in more than a month at 3,310 on Friday, was last up 1.32% on the day at 3,385.
S&P 500 top movers
Despite a lack of company-specific headlines, Tapestry Inc (TPR: NYSE) shares jumped to the highest level in more than three months at $17.79. As of writing, TPR was up 9.3% on a daily basis at $17.65.
Kohl's Corp (KSS: NYSE), Apartment Investment and Management Co (AIV: NYSE), Host Hotels & Resorts Inc (HST: NYSE) and Micron Technology Inc (MU: NASDAQ) shares are among the other top daily percentage gainers on Monday, rising between 8.3% and 6.3%.
On the other hand, Kroger Co (KR: NYSE) shares fell sharply after Bank of America Global Research announced that it lowered its price target from $42 to $40 while cutting the rating to "neutral" from "buy." At the moment, KR is down 4.38% on the day at $32.86.
Citigroup Inc (C: NYSE), Chipotle Mexican Grill Inc (CMG: NYSE) and Coty Inc (COTY: NYSE) are other underperformers of the day with shares losing between 3.65% and 2.7%.