U.S. stocks were mostly higher, with the Dow Jones index gaining around 100 points on Thursday.
Shares of Methode Electronics, Inc. (NYSE:MEI) rose sharply during Thursday's session after the company reported better-than-expected fourth-quarter sales results.
Methode Electronics reported a fourth-quarter fiscal 2024 net sales decline of 7.9% year-on-year to $277.30 million, beating the analyst consensus estimate of $264.04 million. Adjusted EPS loss of 23 cents missed the analyst consensus loss estimate of 20 cents, according to data from Benzinga Pro.
Methode Electronics shares surged 29.4% to $12.22 on Thursday.
Here are some other big stocks recording gains in today's session.
- QuantumScape Corporation (NYSE:QS) shares jumped 25% to $6.76 after the company announced it entered into an agreement with PowerCo to industrialize solid-state batteries.
- Terns Pharmaceuticals, Inc. (NASDAQ:TERN) gained 18.2% to $8.63.
- SoundHound AI, Inc. (NASDAQ:SOUN) shares gained 16.7% to $5.92. SoundHound AI recently announced that its ChatGPT-integrated voice assistant is now live and in production in Peugeot, Opel and Vauxhall vehicle brands in Europe.
- Pacific Biosciences of California, Inc. (NASDAQ:PACB) rose 14% to $1.48.
- Embecta Corp. (NASDAQ:EMBC) gained 11.7% to $13.40.
- Astrana Health, Inc. (NASDAQ:ASTH) jumped 11.2% to $42.47. Truist Securities analyst Jailendra Singh upgraded Astrana Health from Hold to Buy and raised the price target from $44 to $50.
- Ribbon Communications Inc. (NASDAQ:RBBN) gained 10.8% to $3.60 after Rosenblatt initiated coverage on the stock with a Buy rating and announced a $5 price target.
- Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) rose 9.5% to $8.52.
- Apogee Therapeutics, Inc. (NASDAQ:APGE) climbed 9.2% to $46.08.
- Joby Aviation, Inc. (NASDAQ:JOBY) gained 8.2% to $5.61. Joby Aviation said it has flown a first-of-its-kind hydrogen-electric air taxi demonstrator 523 miles, with water as the only by-product.
- Lantheus Holdings, Inc. (NASDAQ:LNTH) surged 8.2% to $114.89. Leerink Partners maintained Lantheus with an Outperform and raised the price target from $106 to $127.
- MicroStrategy Incorporated (NASDAQ:MSTR) shares climbed 8% to $1,410.01 after the company announced a 10-for-1 stock split.
- Unity Software Inc. (NYSE:U) gained 7.4% to $16.51. Unity is expected to release second quarter financial results after the closing bell on Aug. 8.
- Q2 Holdings, Inc. (NASDAQ:QTWO) rose 6.8% to $64.81.
- Enphase Energy, Inc. (NASDAQ:ENPH) climbed 6.8% to $113.99 after the company announced residential and commercial products that can help solar projects qualify for the "Domestic Content Bonus Credit."
- Pool Corporation (NASDAQ:POOL) rose 6.6% to $318.49.
- Installed Building Products, Inc. (NYSE:IBP) gained 6.4% to $223.75.
- Yum China Holdings, Inc. (NYSE:YUMC) rose 5.5% to $32.17.
- Chewy, Inc. (NYSE:CHWY) gained 4.6% to $26.57.
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