Amazon stock jumps after OpenAI deal; Kimberly-Clark acquires Kenvue

A tie-up with an artificial intelligence player helped boost shares of a major cloud computing services company on Monday, while a takeover in the consumer goods space sent the two stocks on divergent paths.

Major US stock indexes finished the first trading day of November on a mixed note, kicking off a market week that will bring with it a flurry of big-name quarterly reports. The S&P 500 rose 0.2%, while the Nasdaq rose 0.5%. The Dow Jones index ended the session down 0.5%. For more Investopedia For today’s key market news, click here.

Shares of IDEXX Laboratories ( IDXX ) jumped 15%, the best performer on the S&P 500 today, after the pet health specialist reported better-than-expected third-quarter sales and earnings. The company raised its revenue and earnings per share for 2025, and highlighted global customer adoption of its new diagnostic tools, which IDEXX says can help veterinary teams increase clinical insights and streamline workflows.

Paper products giant Kimberly-Clark (KMB) said it will buy Tylenol, Band-Aid and parent company Listerine Kenvue (KVUE) in a cash-and-stock deal worth about $49 billion. Kenvue, which completed a spinoff from Johnson & Johnson (JNJ) in 2023, has been navigating lawsuits over claims that its talcum powder causes cancer and statements from the Trump administration linking Tylenol to autism.

Kenvue shares rose more than 12% on Monday after the deal was announced, which came at a significant premium to Kenvue’s closing stock price on Friday, while Kimberly-Clark shares fell more than 14%. The latter company’s shares were the worst performers on the S&P 500 today.

Amazon (AMZN) shares jumped 5% after ChatGPT owner OpenAI signed an agreement to buy more than $38 billion of capacity for its Amazon Web Services cloud unit. OpenAI said the deal to use AWS infrastructure will provide it with access to a large number of Nvidia (NVDA) graphics processing units that can be used to train its AI models. Nvidia shares rose 2.2%.

Moderna (MRNA) stock fell 8.3% on Monday, reversing part of last week’s gains amid reports that the vaccine maker has held strategic talks with a major pharmaceutical company about a partnership or potential sale. Moderna’s announcement that it had administered the first dose in an early study of an experimental treatment for multiple myeloma was overshadowed by declining enthusiasm around a potential deal and concerns about the company’s financial health.

KeyBanc downgraded shares of Charter Communications (CHTR) to “sector weight” from “overweight” after the cable and internet provider reported lower-than-expected third-quarter sales and earnings in its latest quarterly release. Analysts cited competitive headwinds to Charter’s broadband subscriber growth, which could impact free cash flow. Its shares fell by about 5%.