U.S. stocks were higher, with the Nasdaq Composite gaining around 50 points on Thursday.
Shares of Hormel Foods Corporation HRL rose sharply during Thursday’s session after the company reported better-than-expected first-quarter earnings and reaffirmed FY24 outlook.
The company reported first-quarter adjusted earnings per share of 41 cents, beating the analyst consensus of 34 cents. Quarterly revenues of $2.997 billion, beating the analyst consensus of $2.917 billion.
Hormel Foods shares climbed 12.6% to $34.72 on Thursday.
Here are some other big stocks recording gains in today’s session.
Vertex, Inc. VERX jumped 29.8% to $32.97 after the company reported better-than-expected fourth-quarter results and issued strong FY24 guidance.
Tutor Perini Corporation TPC gained 26% to $11.64 following fourth-quarter results.
C3.ai, Inc. AI shares rose 24.6% to $37.00 after the company reported better-than-expected third-quarter financial results.
Sterling Check Corp. STER jumped 24.6% to $15.49 after the company agreed to be acquired by First Advantage for approximately $2.2 billion, including outstanding debt.
Revance Therapeutics, Inc. RVNC jumped 24% to $7.02 after the company reported better-than-expected quarterly financial results.
Avidity Biosciences, Inc. RNA jumped 22.5% to $18.70. Avidity Biosciences announced an oversubscribed $400 million private placement.
Pure Storage, Inc. PSTG rose 21.9% to $51.35 after the company reported better-than-expected fourth-quarter financial results and issued first-quarter revenue guidance above estimates. Also, UBS maintained a Neutral rating on the stock and raised its price target from $38 to $44.
Duolingo, Inc. DUOL gained 21.6% to $237.82 after the company reported better-than-expected fourth-quarter financial results and issued strong guidance.
Okta, Inc. OKTA shares rose 19.8% to $104.55 after the company reported better-than-expected fourth-quarter financial results and issued strong guidance.
Mersana Therapeutics, Inc. MRSN gained 19.5% to $5.80 after the company reported fourth-quarter financial results.
Establishment Labs Holdings Inc. ESTA rose 17.8% to $45.31 after the company reported better-than-expected fourth-quarter financial results.
Montrose Environmental Group, Inc. MEG gained 16.7% to $38.52 following quarterly results.
ORIC Pharmaceuticals, Inc. ORIC climbed 16.1% to $13.65.
SunOpta Inc. STKL rose 15% to $6.91 following strong quarterly results.
TaskUs, Inc. TASK gained 14.4% to $14.17 following upbeat quarterly results.
Magnite, Inc. MGNI rose 13.8% to $11.93 following strong quarterly results.
Hayward Holdings, Inc. HAYW gained 13.7% to $14.88 following upbeat results.
Sprinklr, Inc. CXM gained 7.9% to $13.56. Sprinklr will replace Veradigm in S&P SmallCap 600 effective prior to opening of trading on March 4, 2024.
Papa John’s International, Inc. PZZA climbed 6.8% to $74.89 following strong quarterly earnings.
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