Benzinga - by Avi Kapoor, Benzinga Staff Writer.
U.S. stocks traded mostly higher, with the Dow Jones index gaining more than 40 points on Friday.
Shares of Torrid Holdings Inc. (NYSE: CURV) shares rose sharply during Friday’s session after the company reported better-than-expected third-quarter financial results and issued FY23 revenue guidance above estimates.
Net sales fell 8.3% Y/Y to $275.4 million, beating the consensus of $245.8 million. EPS loss of $(0.03) came above the consensus of $(0.05).
For FY23, Torrid raised guidance for net sales to $1.125 billion-$1.140 billion (from $1.080 billion and $1.115 billion) vs. $1.09 billion estimate and adjusted EBITDA to $99 million-$103 million (from $90 million-$100 million).
Torrid Holdings shares jumped 22.3% to $5.07 on Friday.
Here are some other big stocks recording gains in today’s session.
- MBIA Inc. (NYSE: MBI) shares jumped 63.8% to $12.09 after the company announced it declared an extraordinary cash dividend on MBIA common stock of $8.00 per share.
- ALX Oncology Holdings Inc. (NASDAQ: ALXO) shares climbed 35.7% to $12.56. Jefferies upgraded ALX Oncology Holdings from Hold to Buy and raised the price target from $8 to $18.
- Virco Mfg. Corporation (NASDAQ: VIRC) shares gained 18.2% to $8.28 following third-quarter results.
- Bitfarms Ltd. (NASDAQ: BITF) jumped 15% to $2.46
- Hello Group Inc. (NASDAQ: MOMO) rose 14.8% to $7.54 after reporting results for the third quarter.
- Paramount Global (NASDAQ: PARA) climbed 13.8% to $17.11.
- Arvinas, Inc. (NASDAQ: ARVN) gained 12.8% to $36.88. Arvinas and Pfizer recently announced interim data from the Phase 1b trial of Vepdegestrant in combination with Palbociclib.
- Axos Financial, Inc. (NYSE: AX) rose 12.2% to $50.15. Axos closed purchase of two loan portfolios from the FDIC.
- bluebird bio, Inc. (NASDAQ: BLUE) gained 10.9% to $5.34. Morgan Stanley upgraded bluebird bio from Underweight to Equal-Weight and raised the price target from $3 to $7.
- CleanSpark, Inc. (NASDAQ: CLSK) jumped 10.3% to $10.18. JP Morgan downgraded Cleanspark from Overweight to Neutral.
- Eneti Inc. (NASDAQ: NETI) jumped 10.3% to $10.83. Cadeler A/S and Eneti announced extension of share exchange offer for all outstanding shares of common stock of Eneti Inc. to Dec. 14, 2023.
- Applied Optoelectronics, Inc. (NASDAQ: AAOI) rose 9.4% to $19.33.
- ChargePoint Holdings, Inc. (NYSE: CHPT) climbed 9.1% to $2.4550.
- Applied Digital Corporation (NASDAQ: APLD) gained 8.8% to $6.13.
- Eventbrite, Inc. (NYSE: EB) rose 7.9% to $7.96. B. Riley Securities initiated coverage on Eventbrite with a Buy rating and announced a price target of $13.
- Warner Bros. Discovery, Inc. (NASDAQ: WBD) climbed 7.6% to $11.65.
- Marathon Digital Holdings, Inc. (NASDAQ: MARA) gained 7.2% to $16.62.
- Upstart Holdings, Inc. (NASDAQ: UPST) rose 7.2% to $36.29.
- Carvana Co. (NYSE: CVNA) gained 7.2% to $40.67.
- JAKKS Pacific, Inc. (NASDAQ: JAKK) gained 6.8% to $32.31.
- Coinbase Global, Inc. (NASDAQ: COIN) rose 4.6% to $142.43.
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