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Analog Devices Posts Strong Earnings, Joins TJX, Williams-Sonoma And Other Big Stocks Moving Higher On Wednesday

Author: Avi Kapoor | May 22, 2024 10:22am

U.S. stocks were slightly lower, with the Dow Jones index falling around 10 points on Wednesday.

Shares of Analog Devices, Inc. (NASDAQ:ADI) rose sharply during Wednesday's session following better-than-expected second-quarter financial results.

Analog Devices posted adjusted earnings of $1.40 per share, beating market estimates of $1.26 per share. The company's quarterly sales came in at $2.160 billion versus expectations of $2.106 billion, according to data from Benzinga Pro.

Analog Devices shares surged 6% to $229.69 on Wednesday.

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

  • IGM Biosciences, Inc. (NASDAQ:IGMS) jumped 24% to $10.44.
  • Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) gained 23% to $3.0201 following better-than-expected quarterly financial results.
  • CureVac N.V. (NASDAQ:CVAC) shares surged 20.3% to $3.9604.
  • Daqo New Energy Corp. (NYSE:DQ) shares rose 12.1% to $21.43.
  • Bloom Energy Corporation (NYSE:BE) jumped 10.7% to $16.76.
  • SunPower Corporation (NASDAQ:SPWR) gained 10.5% to $3.0294 after the company announced it will now offer Tesla Powerwall 3 as part of its portfolio.
  • Novavax, Inc. (NASDAQ:NVAX) gained 9.5% to $16.33. Shah Capital recently withdrew its proxy campaign against the re-election of directors at Novavax’s 2024 Annual Meeting.
  • Canadian Solar Inc. (NASDAQ:CSIQ) climbed 9.2% to $17.28. Roth MKM analyst Philip Shen maintained Canadian Solar with a Buy and maintained a $25 price target.
  • Brady Corporation (NYSE:BRC) rose 8.6% to $65.48 after the company posted upbeat quarterly earnings and raised earnings guidance for FY24.
  • Loar Holdings Inc. (NYSE:LOAR) gained 7.8% to $60.31.
  • First Solar, Inc. (NASDAQ:FSLR) climbed 7.3% to $227.62.
  • Fluence Energy, Inc. (NASDAQ:FLNC) gained 7.1% to $20.18.
  • The TJX Companies, Inc. (NYSE:TJX) rose 6.8% to $104.32 following upbeat earnings.
  • BioNTech SE (NASDAQ:BNTX) gained 6.4% to $98.00.
  • Vipshop Holdings Limited (NYSE:VIPS) rose 5.7% to $17.38 following upbeat quarterly earnings.
  • Moderna, Inc. (NASDAQ:MRNA) gained 5.6% to $151.80.
  • Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) shares gained 5.5% to $52.22 after the company announced the early release of ENDO 2024 late-breaking abstracts..
  • Williams-Sonoma, Inc. (NYSE:WSM) rose 4.7% to $329.05 after the company reported first-quarter financial results.

Now Read This: Jim Cramer: This Industrial Stock Is Doing ‘Very Well’; Here’s His Take On Palantir

Posted In: ADI BE BNTX BRC CRNX CSIQ CVAC DQ FLNC FSLR IGMS LOAR MRNA NVAX SPWR TJX VIPS WOOF WSM