U.S. stocks were mostly higher, with the Dow Jones index gaining more than 150 points on Wednesday.
The standout of the day was Reliance Steel & Aluminum Co. RS, which soared in today’s session after the company reported fourth-quarter earnings that surpassed estimates, sending positive ripples in the market. The company’s adjusted earnings were $4.73 per share, handily beating market predictions of $3.92 per share. Moreover, the company’s quarterly sales came in at $3.34 billion, exceeding estimates of $3.30 billion. The stellar performance sent Reliance Steel & Aluminum shares climbing 10.4% to $325.15 on Thursday.
The astounding performance by Reliance Steel & Aluminum was echoed by a slew of other big stocks that recorded significant gains in today’s session.
- Nano-X Imaging Ltd. NNOX saw its shares surge 54.7% to $9.84, and Nvidia reported a 59,632 share stake in Nano X Imaging.
- Coinbase Global, Inc. COIN soared 6.2% to $170.35 after JP Morgan upgraded the stock from Underweight to Neutral and announced an $80 price target.
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