These Stocks Are Making Big Moves as They Reach to The End of the Month

In the realm of midday trading, several companies are making significant moves, drawing attention from investors. Here’s a rundown of the notable developments:

Norwegian Cruise Line: The cruise ship operator saw a remarkable 18% surge following robust forward guidance. Norwegian Cruise Line anticipates a profit of 12 cents per share for the current quarter, surpassing analysts’ consensus estimate of a 20 cents per share loss, as reported by FactSet.

Unity Software: On the flip side, video game developer Unity Software experienced a dip of about 9% due to disappointing EBITDA guidance. The company expects adjusted EBITDA to range between $45 million and $50 million, falling short of the $113 million anticipated by analysts polled by FactSet.

Viking Therapeutics: In the biotech sector, Viking Therapeutics soared over 90% after achieving primary and secondary endpoints in its Phase 2 GLP-1 study. The company reported successful weight loss outcomes in patients receiving the VK2735 treatment.

Hess Corporation: Meanwhile, oil and gas explorer Hess Corporation faced a 3% decline after Chevron issued a warning regarding a dispute involving Exxon Mobil and China’s National Offshore Oil Corp. (Cnooc) over Guyana’s offshore oil assets. This dispute threatens Chevron’s planned purchase of Hess. Chevron also slipped 2%.

Workday: Shares of Workday slipped 3% despite posting quarterly results that beat expectations. The company reported earnings of $1.57 per share, surpassing the anticipated $1.47 per share, according to LSEG (formerly Refinitiv). Workday’s revenue of $1.92 billion aligned with analysts’ expectations, and the company reiterated its guidance for fiscal 2025.

Hims & Hers jumps 33%
Hims & Hers jumps 33% on better-than-estimated earnings and robust forward financial guidance.

Hims & Hers: The health platform witnessed a remarkable surge of over 33% on the back of better-than-expected earnings and forward financial guidance. Hims & Hers reported earnings of 1 cent per share on $247 million in revenue for the fourth quarter, exceeding analysts’ expectations of a loss of 2 cents on $246 million in revenue, as per LSEG. Additionally, the company shared revenue and adjusted EBITDA guidance that surpassed analyst forecasts.

Macy’s: Despite mixed quarterly results and a decline in same-store sales growth, Macy’s saw a 3% increase following cost-cutting initiatives aimed at repelling activist investors. The company plans to close approximately 150 department stores while expanding better-performing chains.

Lowe’s: Shares of home improvement retailer Lowe’s climbed nearly 3% to a 52-week high after reporting better-than-expected earnings. The company’s earnings per share of $1.77 in the latest quarter surpassed estimates of $1.68, according to LSEG. Additionally, Lowe’s revenue exceeded expectations.

Zoom Video: Zoom Video witnessed a nearly 5% increase after surpassing Wall Street’s expectations in its fiscal fourth-quarter results. The company reported an adjusted per-share profit of $1.22 on $1.15 billion in revenue.

Cava: The restaurant chain rallied 6% one day after reporting earnings and revenue that exceeded analyst estimates. Cava’s fourth-quarter revenue of $175.5 million was 52% higher than the previous year and above the expected $174.3 million, according to FactSet. Additionally, Cava provided full-year EBITDA guidance that surpassed estimates.

Roku: Roku experienced a slight dip of more than 1% after Wells Fargo downgraded it to underweight from equal weight, expressing concerns about Walmart’s Vizio acquisition potentially hindering growth.

Zoom Video shares rose 5%
Zoom Video: Rose 5% on Q4 results surpassing expectations in revenue and profit.

Sprouts Farmers Market: Shares of Sprouts Farmers Market gained 2% after Bank of America Securities double upgraded the supermarket chain to buy from underperform. The bank cited Sprouts’ differentiated assortment of goods as a driver of sales and raised its price target on the stock to $70 from $30.

Duolingo: Shares of language learning company Duolingo rose more than 6% following Seaport Research Partners’ initiation of research coverage with a buy rating. Duolingo is scheduled to release its fourth-quarter results on Wednesday.

CarGurus: CarGurus saw a decline of over 7% due to weak financial guidance for the current quarter. Although the online car-selling platform exceeded Wall Street’s fourth-quarter expectations, it fell short of revenue and earnings forecasts for the first quarter.

AutoZone: AutoZone witnessed an almost 6% increase after surpassing Wall Street’s fiscal second-quarter expectations on both the top and bottom lines. The company reported earnings of $28.89 per share on $3.85 billion in revenue.

Coinbase: Coinbase shares rose approximately 3% as cryptocurrency prices surged, propelling Bitcoin above $57,000. This uptick also benefited other crypto-connected stocks, with CleanSpark gaining 2.7% and Microstrategy surging more than 9% following its acquisition of another 3,000 bitcoins.

Sajda Parveen
Sajda Parveen
Sajda Praveen is a market expert. She has over 6 years of experience in the field and she shares her expertise with readers. You can reach out to her at [email protected]
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