Lumentum Gains, Apple Falls, AMC Entertainment Soars

Today's biggest winners and losers in the stock market, a look at the notable movers:
On this episode of Stock Movers:

- Laser and optics hardware maker Lumentum (LITE) gained 5.9% to $775.87, placing it near the top of the S&P 500. Barclays upgraded Lumentum to Overweight from Equal Weight and reiterated a price target of $1,000. That endorsement, coupled with a resurgence across AI hardware stocks on Monday, gave the optical networking supplier a lift.

- Apple (AAPL) stock slid early Monday as traders digested the latest "most valuable company" back-and-forth with Nvidia and weighed it against a firmer risk tone, with S&P 500 futures up about half a percent. The iPhone maker briefly overtook Nvidia as the world’s most valuable company as investors favored Apple’s lighter AI spending model, China AI progress and stronger product outlook.

- AMC Entertainment (AMC) shares soar as much as 20% in premarket trading reported strong adjusted Ebitda for the second quarter that beat the average analyst estimate.

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