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Stocks Surge as Guess? Paves the Way for Upbeat Earnings

  Stocks Surge as Guess? Paves the Way for Upbeat Earnings

U.S. stocks were higher, with the Dow Jones index gaining around 250 points on Thursday.

Shares of Guess?, Inc. GES rose sharply during Thursday’s session as the company reported better-than-expected fourth-quarter financial results and declared a special dividend of $2.25 per share.

Guess? reported quarterly earnings of $2.01 per share which beat the analyst consensus estimate of $1.56 by 28.85%. Quarterly sales clocked in at $891.05 million, beating the analyst consensus estimate of $855.54 million, according to data from Benzinga Pro.

Guess? shares jumped 23.1% to $31.95 on Thursday.

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

  • Lufax Holding Ltd LU shares surged 41.3% to $4.76 following fourth-quarter results.
  • Nortech Systems Incorporated NSYS rose 22.3% to $13.35 after the company reported fourth-quarter results.
  • Astera Labs, Inc. ALAB rose 15.3% to $71.54 amid post-IPO volatility.
  • NextNav Inc. NN gained 15% to $5.55. NextNav 10% owner Joseph D Samberg acquired a total of 483,000 shares at an average price of $4.52.
  • Micron Technology, Inc. MU climbed 14.7% to $110.37 as the company reported upbeat results for its second quarter and issued strong third-quarter guidance.
  • argenx SE ARGX surged 14.4% to $408.38 after myasthenia gravis data from competitors Chugai and Roche fell short of expectations.
  • Stem, Inc. STEM gained 14.3% to $2.2050.
  • Astera Labs, Inc. ALAB gained 14.2% to $70.81 amid post-IPO volatility.
  • Sunnova Energy International Inc. NOVA rose 9.7% to $5.22.
  • Ocugen, Inc. OCGN surged 9.3% to $1.3550.
  • Graphjet Technology GTI climbed 9.3% to $10.93.
  • Nyxoah S.A. NYXH surged 9.1% to $15.16.
  • Anywhere Real Estate Inc. HOUS gained 9.1% to $5.99.
  • Wolfspeed, Inc. WOLF shares rose 8.4% to $29.54.
  • Sunrun Inc. RUN gained 8% to $12.40.
  • Array Technologies, Inc. ARRY gained 6.8% to $14.23.
  • Western Digital Corporation WDC surged 6.2% to $64.51, amid strength in Micron, which gained after reporting better-than-expected earnings and issuing strong guidance.
  • Broadcom Inc. AVGO climbed 5.8% to $1,350.05 after TD Cowen upgraded the stock from Market Perform to Outperform and raised its price target from $1,400 to $1,500.
  • Fabrinet FN gained 5.6% to $202.88. Northland Capital Markets analyst Tim Savageaux upgraded Fabrinet from Market Perform to Outperform and raised the price target from $200 to $220.

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