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.