Dominion-NextEra Merger Headlines a Mixed Monday on Wall Street

Benzinga reported Monday that U.S. equity markets closed a choppy session with the Dominion Energy merger announcement dominating investor attention, as the Dow Jones Industrial Average edged up 0.32% to 49,686, the S&P 500 dipped 0.07% to 7,403, and the Nasdaq fell 0.51% to 26,090.

Dominion and NextEra Announce Historic Utility Merger

Dominion Energy shares surged 9.44% on Monday, closing at $67.56, after the company unveiled plans to merge with NextEra Energy. The combined entity would become the world’s largest electric utility business. The deal structure gives NextEra shareholders a majority ownership stake. Dominion shares touched a fresh 52-week high of $68.97 intraday before easing slightly into the close.

ServiceNow Sets Sights on $30 Billion Revenue Target

ServiceNow Inc. shares climbed 8.78%, finishing the session at $103.42. The enterprise software firm laid out an ambitious roadmap to exceed $30 billion in annual subscription revenue by 2030. The company’s AI-focused product, Now Assist, was highlighted as a key revenue driver. ServiceNow shares added a further 2% in after-hours trading, reaching $105.50.

Micron Sells Off Despite Analyst Price Target Hikes

Micron Technology had a rougher day, falling nearly 6% to close at $681.54 after touching an intraday peak of $757. The decline came even as analysts at both Citigroup and Melius Research lifted their price targets on the chipmaker. Citi set a new target of $840, while Melius went considerably higher at $1,100. Both firms cited durable DRAM and high-bandwidth memory pricing strength through 2027, underpinned by AI-driven demand and limited supply additions.

Background: AI Infrastructure Fuels Outsized Moves

Monday’s session reflected a broader market theme that has dominated 2026: AI infrastructure spending reshaping valuations across sectors. HIVE Digital Technologies, a smaller compute infrastructure play, surged 28.62% to $3.46 after announcing plans to build a large-scale AI compute facility in Canada. The project carries a CAD $3.5 billion price tag and is designed to support more than 100,000 GPUs. T1 Energy also jumped 23.46% to $7.00, lifted by news that Leopold Aschenbrenner’s Situational Awareness LP acquired 10 million company shares for roughly $43.9 million as part of an AI infrastructure strategy.

One Down Day on an Otherwise Strong Tape

Despite the Nasdaq’s modest retreat, the day’s biggest movers underscored how AI spending, utility consolidation, and semiconductor demand are continuing to set the agenda for equity markets. The mixed close leaves the major indexes near multi-month highs heading into a busy week of economic data.

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