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La-Z-Boy Announces Strong Earnings Beat, Surges on Wall Street

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U.S. stocks rallied today, with the Dow Jones index soaring about 200 points on Thursday.

La-Z-Boy Incorporated, the furniture giant, hit a home run with its earnings this quarter. The company’s stock surged by 7.5% to $34.08 after reporting an earnings per share of 74 cents, trouncing market predictions by 12 cents. Moreover, its quarterly sales exceeded estimates, reaching $511.44 million compared to an anticipated $502.33 million.

The furniture heavyweight also hiked its quarterly cash dividend by an impressive 10%, showcasing its financial strength and commitment to delivering value to shareholders. This pleasant surprise from La-Z-Boy bolstered investor confidence, propelling the stock to astonishing heights.

The positivity was infectious in the stock market today, with a number of other companies also skyrocketing in today’s session.

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Now Read This: Wall Street’s Most Accurate Analysts Say Hold These 3 Tech Stocks Delivering High-Dividend Yields


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