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Hormel Foods Reports Upbeat Earnings, Joins Pure Storage, Okta, Papa John's International And Other Big Stocks Moving Higher On Thursday

Published 29/02/2024, 16:30
Updated 29/02/2024, 17:40
© Reuters. Hormel Foods Reports Upbeat Earnings, Joins Pure Storage, Okta, Papa John's International And Other Big Stocks Moving Higher On Thursday

Benzinga - by Avi Kapoor, Benzinga Staff Writer.

U.S. stocks were higher, with the Nasdaq Composite gaining around 50 points on Thursday.

Shares of Hormel Foods Corporation (NYSE: HRL) rose sharply during Thursday’s session after the company reported better-than-expected first-quarter earnings and reaffirmed FY24 outlook.

The company reported first-quarter adjusted earnings per share of 41 cents, beating the analyst consensus of 34 cents. Quarterly revenues of $2.997 billion, beating the analyst consensus of $2.917 billion.

Hormel Foods shares climbed 12.6% to $34.72 on Thursday.

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

  • Vertex, Inc. (NASDAQ: VERX) jumped 29.8% to $32.97 after the company reported better-than-expected fourth-quarter results and issued strong FY24 guidance.
  • Tutor Perini Corporation (NYSE: TPC) gained 26% to $11.64 following fourth-quarter results.
  • C3.ai, Inc. (NYSE: AI) shares rose 24.6% to $37.00 after the company reported better-than-expected third-quarter financial results.
  • Sterling Check Corp. (NASDAQ: STER) jumped 24.6% to $15.49 after the company agreed to be acquired by First Advantage for approximately $2.2 billion, including outstanding debt.
  • Revance Therapeutics, Inc. (NASDAQ: RVNC) jumped 24% to $7.02 after the company reported better-than-expected quarterly financial results.
  • Avidity Biosciences, Inc. (NASDAQ: RNA) jumped 22.5% to $18.70. Avidity Biosciences announced an oversubscribed $400 million private placement.
  • Pure Storage, Inc. (NYSE: PSTG) rose 21.9% to $51.35 after the company reported better-than-expected fourth-quarter financial results and issued first-quarter revenue guidance above estimates. Also, UBS maintained a Neutral rating on the stock and raised its price target from $38 to $44.
  • Duolingo, Inc. (NASDAQ: DUOL) gained 21.6% to $237.82 after the company reported better-than-expected fourth-quarter financial results and issued strong guidance.
  • Okta, Inc. (NASDAQ: OKTA) shares rose 19.8% to $104.55 after the company reported better-than-expected fourth-quarter financial results and issued strong guidance.
  • Mersana Therapeutics, Inc. (NASDAQ: MRSN) gained 19.5% to $5.80 after the company reported fourth-quarter financial results.
  • Establishment Labs Holdings Inc. (NASDAQ: ESTA) rose 17.8% to $45.31 after the company reported better-than-expected fourth-quarter financial results.
  • Montrose Environmental Group, Inc. (NYSE: MEG) gained 16.7% to $38.52 following quarterly results.
  • ORIC Pharmaceuticals, Inc. (NASDAQ: ORIC) climbed 16.1% to $13.65.
  • SunOpta Inc. (NASDAQ: STKL) rose 15% to $6.91 following strong quarterly results.
  • TaskUs, Inc. (NASDAQ: TASK) gained 14.4% to $14.17 following upbeat quarterly results.
  • Magnite, Inc. (NASDAQ: MGNI) rose 13.8% to $11.93 following strong quarterly results.
  • Hayward Holdings, Inc. (NASDAQ: HAYW) gained 13.7% to $14.88 following upbeat results.
  • Sprinklr, Inc. (NYSE: CXM) gained 7.9% to $13.56. Sprinklr will replace Veradigm in S&P SmallCap 600 effective prior to opening of trading on March 4, 2024.
  • Papa John's International, Inc. (NASDAQ: PZZA) climbed 6.8% to $74.89 following strong quarterly earnings.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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