Arm Holdings Posts Upbeat Results, Joins Hershey, CyberArk Software, Wynn Resorts And Other Big Stocks Moving Higher On Thursday

Author: Avi Kapoor | February 08, 2024 11:24am

U.S. stocks traded mixed, with the Dow Jones gaining around 20 points on Thursday.

Shares of Arm Holdings plc (NASDAQ:ARM) shares rose sharply during Thursday’s session after the company reported better-than-expected third-quarter financial results and issued FY24 guidance above estimates.

Arm Holdings reported adjusted quarterly earnings of 29 cents per share, which beat the analyst consensus estimate of 25 cents by 16%. The company reported quarterly sales of $824 million, which beat the analyst consensus estimate of $761.62 million by 8.19%.

Arm Holdings shares surged 47.3% to $113.41 on Thursday.

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

• Oscar Health, Inc. (NYSE:OSCR) shares gained 21.2% to $16.27 after the company reported better-than-expected fourth-quarter financial results.
• Mineralys Therapeutics, Inc. (NASDAQ:MLYS) climbed 18.5% to $14.77. Mineralys Therapeutics announced a $120 million private placement financing.
• Viking Therapeutics, Inc. (NASDAQ:VKTX) gained 17.6% to $28.78 following quarterly results.
• Bitdeer Technologies Group (NASDAQ:BTDR) rose 17.6% to $8.34.
• QuinStreet, Inc. (NASDAQ:QNST) gained 15.4% to $14.90 following upbeat results.
• AST SpaceMobile, Inc. (NASDAQ:ASTS) rose 15% to $2.9950. AST SpaceMobile announced a new contract award with United States Government through prime contractor.
• Monolithic Power Systems, Inc. (NASDAQ:MPWR) climbed 14.3% to $737.95 after the company reported better-than-expected quarterly financial results and increased its quarterly cash dividend from $1 to $1.25 per share.
• Ralph Lauren Corporation (NYSE:RL) gained 12.4% to $165.41 following strong earnings.
• Advanced Drainage Systems, Inc. (NYSE:WMS) gained 12.3% to $155.12 after the company reported better-than-expected third-quarter financial results, raised FY24 net sales guidance above estimates and increased its quarterly cash dividend.
• Belden Inc. (NYSE:BDC) rose 12% to $83.42 following upbeat results.
• Worthington Steel, Inc. (NYSE:WS) climbed 10% to $33.13.
• Marathon Digital Holdings, Inc. (NASDAQ:MARA) gained 9.9% to $19.27.
• The Walt Disney Company (NYSE:DIS) gained 9.5% to $108.54 after the company reported better-than-expected earnings for its first quarter and declared a cash dividend of 45 cents per share. The company announced a new share repurchase program and said it expects fiscal 2024 earnings of roughly $4.60 per share. Disney also announced a $1.5 billion investment in leading video game company Epic Games.
• Tapestry, Inc. (NYSE:TPR) gained 9.5% to $44.22 following upbeat results.
• Spectrum Brands Holdings, Inc. (NYSE:SPB) climbed 9% to $87.18 following better-than-expected quarterly earnings.
• EverQuote, Inc. (NASDAQ:EVER) rose 8.3% to $14.57. EverQuote is expected to report fourth quarter financial results after the market close on Feb. 26, 2024.
• TAL Education Group (NYSE:TAL) climbed 8% to $13.02.
• News Corporation (NASDAQ:NWS) gained 7.4% to $ 27.16 after the company reported better-than-expected quarterly financial results.
• Masco Corporation (NYSE:MAS) rose 7.1% to $75.43 after the company reported better-than-expected fourth-quarter financial results and issued FY24 adjusted EPS guidance above estimates.
• CyberArk Software Ltd. (NASDAQ:CYBR) gained 7.1% to $260.39 after the company reported fourth-quarter results and provided guidance.
• Wynn Resorts, Limited (NASDAQ:WYNN) climbed 6.8% to $106.71 after the company reported better-than-expected quarterly financial results.
• British American Tobacco p.l.c. (NYSE:BTI) rose 6.7% to $31.38 after the company reported FY24 results.
• The Hershey Company (NYSE:HSY) gained 6.2% to $206.24 after the company reported mixed fourth-quarter financial results and raised its quarterly dividends.
• Kellanova (NYSE:K) gained 3.5% to $55.59 following upbeat earnings.
• Harley-Davidson, Inc. (NYSE:HOG) gained 3.3% to $35.68 following upbeat earnings.

 

Now Read This: Bitcoin Surpasses $44,000 Following Jobless Claims Data; BitTorrent Emerges As Top Gainer

Posted In: ARM ASTS BDC BTDR BTI CYBR DIS EVER HOG HSY K MARA MAS MLYS MPWR NWS OSCR QNST RL SPB