Fastenal Posts Upbeat Earnings, Joins NovoCure, Taiwan Semiconductor Manufacturing And Other Big Stocks Moving Higher On Thursday

Author: Avi Kapoor | January 18, 2024 11:10am

U.S. stocks traded mixed, with the Dow Jones index falling around 50 points on Thursday.

Shares of Fastenal Company (NASDAQ:FAST) rose during Thursday’s session after the company reported better-than-expected quarterly financial results.

Fastenal posted quarterly earnings of 46 cents per share, beating market estimates of 45 cents per share. The company’s quarterly sales came in at $1.76 billion versus expectations of $1.75 billion.

Fastenal shares gained 7% to $67.81 on Thursday.

Here are some other big stocks recording gains in today’s session.

• M.D.C. Holdings, Inc. (NYSE:MDC) shares gained 18.2% to $62.76 after the company announced it will be acquired by Sekisui House.
• Lexeo Therapeutics, Inc. (NASDAQ:LXEO) shares jumped 13% to $19.58.
• Dada Nexus Limited (NASDAQ:DADA) rose 11.8% to $1.6750. Dada Nexus recently announced that it discovered suspicious practices in an internal audit.
• NovoCure Limited (NASDAQ:NVCR) gained 10.3% to $13.70 after the company announced FDA acceptance of the PMA application for TTFields therapy in non-small cell lung cancer.
• Bitdeer Technologies Group (NASDAQ:BTDR) jumped 9.8% to $7.17.
• Nayax Ltd. (NASDAQ:NYAX) gained 9.4% to $22.16.
• Lanvin Group Holdings Limited (NYSE:LANV) gained 9.3% to $2.5901.
• LiveRamp Holdings, Inc. (NYSE:RAMP) surged 9.2% to $40.30. LiveRamp Holdings said it sees preliminary third-quarter revenue of $174 million and announced plans to acquire Habu.
• Peabody Energy Corporation (NYSE:BTU) rose 8.5% to $25.27 after it was announced the company will join the S&P SmallCap 600.
• Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) climbed 8.1% to $111.26 after the company reported better-than-expected fourth-quarter financial results.
• Hertz Global Holdings, Inc. (NASDAQ:HTZ) rose 7.1% to $8.95 after Morgan Stanley upgraded the stock from Equal-Weight to Overweight but cut its price target form $16 to $15.
• Marvell Technology, Inc. (NASDAQ:MRVL) jumped 4.6% to $68.35.
• Alcoa Corporation (NYSE:AA) rose 3.8% to $28.20 following fourth-quarter results.

 

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Posted In: AA BTDR BTU DADA FAST HTZ LANV LXEO MDC MRVL NVCR NYAX RAMP TSM