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GE HealthCare Technologies Posts Upbeat Earnings, Joins Toyota, Spotify And Other Big Stocks Moving Higher On Tuesday

Published 06/02/2024, 15:20
Updated 06/02/2024, 16:40
© Reuters. GE HealthCare Technologies Posts Upbeat Earnings, Joins Toyota, Spotify And Other Big Stocks Moving Higher On Tuesday

Benzinga - by Avi Kapoor, Benzinga Staff Writer.

U.S. stocks traded mostly higher, with the Dow Jones gaining around 70 points on Tuesday.

Shares of GE HealthCare Technologies Inc. (NASDAQ: GEHC) rose sharply during Tuesday’s session after the company reported better-than-expected quarterly financial results and issued guidance.

GE HealthCare posted adjusted earnings of $1.18 per share, beating market estimates of $1.07 per share. The company’s quarterly sales came in at $5.21 billion versus expectations of $5.09 billion.

GE HealthCare Technologies surged 8.3% to $79.50 on Tuesday.

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

  • Palantir Technologies Inc. (NYSE: PLTR) shares gained 27% to $21.23 after the company reported better-than-expected fourth-quarter sales results and issued guidance.
  • AudioCodes Ltd. (NASDAQ: AUDC) climbed 16.3% to $14.16 after the company reported better-than-expected quarterly financial results.
  • Frontier Group Holdings, Inc. (NASDAQ: ULCC) climbed 15% to $5.94 following fourth-quarter results.
  • Dada Nexus Limited (NASDAQ: DADA) gained 13.6% to $1.91.
  • Coherent Corp. (NYSE: COHR) rose 13.1% to $55.92 after the company reported better-than-expected second-quarter financial results and revised FY24 guidance.
  • Cerus Corporation (NASDAQ: CERS) gained 12.7% to $2.12.
  • Open Lending Corporation (NASDAQ: LPRO) rose 10.2% to $7.47. Morgan Stanley analyst James Faucette upgraded Open Lending from Underweight to Equal-Weight and raised the price target from $4 to $7.
  • XPeng Inc. (NYSE: XPEV) gained 9.6% to $8.64.
  • Weibo Corporation (NASDAQ: WB) jumped 8.8% to $9.07.
  • ArcBest Corporation (NASDAQ: ARCB) rose 8% to $138.33 following upbeat earnings.
  • NIO Inc. (NYSE: NIO) gained 7.8% to $5.80.
  • IHS Holding Limited (NYSE: IHS) gained 7.7% to $2.81.
  • Toyota Motor Corporation (NYSE: TM) climbed 7.3% to $217.76 after it reported results for its third quarter and nine months of FY24.
  • Spotify Technology S.A. (NYSE: SPOT) gained 6.2% to $237.10 after the company reported a 28% increase in ad-supported MAUs and a 15% increase in premium subscribers for the fourth quarter.
  • Hertz Global Holdings, Inc. (NYSE: HTZ) rose 4.8% to $8.61 following quarterly results..
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Now Read This: Top 5 Tech Stocks You May Want To Dump This Month

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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