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S&P 500 Edges Higher; ON Semiconductor Earnings Top Views

U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining around 0.1% on Monday. The Dow traded up 0.19% to 38,313.56 while the NASDAQ rose 0.13% to 15,948.81. The S&P 500 also rose, gaining, 0.10% to 5,105.25. Check This Out: Jim Cramer Likes Palantir, Recommends Pioneer Natural Resources: ‘I Want You To Ka-Ching, Ka-Ching’ Leading and Lagging SectorsConsumer discretionary shares rose by 1.9% on Monday. In trading on Monday, communication services shares fell by 1.7%. Top Headline ON Semiconductor Corp (NASDAQ:ON) reported better-than-expected first-quarter results. ON Semiconductor reported a fiscal first-quarter 2024 revenue decline of 5% year-on-year to $1.86 billion, beating the consensus of $1.85 billion. The adjusted EPS of $1.08 beat the consensus of $1.04. ON Semiconductor expects second-quarter adjusted revenue of $1.68 billion – $1.78 billion, below the consensus of $1.92 billion. The company sees adjusted EPS of $0.86 – $0.98 versus the consensus of $1.10. Equities Trading UP                        Deciphera Pharmaceuticals, Inc. (NASDAQ:DCPH) shares shot up 73% to $25.29 after the company announced it will be acquired by ONO Pharmaceutical for $25.60 per share in cash. Shares of Collective Audience, Inc.  (NASDAQ:CAUD) got a boost, surging 84% to $0.7356 after the ...