[ad_1]
These were some of the biggest movers among U.S. stocks on Thursday:
Stock gainers:
-
Asana Inc.
ASAN,
+19.72%
stock climbed 22% after the project management software provider reported narrower-than-expected fourth-quarter losses and forecast that trend to continue in the first quarter. Shares of Asana have tumbled 60% over the past two months. -
BJ’s Wholesale Club Inc. stock
BJ,
+4.33%
rose 4% after the membership-only warehouse club chain posted better-than-expected earnings for its fiscal fourth quarter. Membership fee income rose 8% and the company had a record 90% tenured member renewal rate, but costs were also higher. -
General Electric Co.’s stock
GE,
+6.43%
rose 8.4% toward a near two-year high and led S&P 500 gainers after the aerospace, power and renewable energy company affirmed its full-year guidance at its investor conference. GE expects 2023 adjusted earnings per share of $1.60 to $2.00, organic revenue growth in the high-single-digit percentage range and free cash flow of $3.4 billion to $4.2 billion, which is what the company said it expected when it reported fourth-quarter results on Jan. 24. -
Build-A-Bear Inc.’s stock
BBW,
+23.86%
soared 25%, after the maker of teddy bears and other soft toys topped estimates for its fiscal fourth quarter. The company is also paying a special $1.50 dividend on April 6 to shareholders of record as of March 23. That’s after paying a special dividend in November. The stock is headed for the highest close since Dec. 14, 2022, which was $26.47. If it goes above that, it would be highest since June 2007. -
Toro Corp.’s stock
TORO,
+43.82%
rose 2% after the lawn mower company posted stronger-than-expected first-quarter profit. Toro said its first-quarter profit rose to $106.86 million, or $1.01 a share, from $69.51 million, or 66 cents a share, in the year-ago quarter. Its first-quarter adjusted earnings of 98 cents a share beat the analyst estimated of 94 cents a share in a survey by FactSet. Revenue increased 23% to $1.15 billion, about flat with the analyst view of $1.16 billion.
Stock decliners:
-
Silvergate Capital Corp.
SI,
-26.68%
shares are down 31% after the La Jolla. Calif-based lender said it would wind down operations and liquidate its crypto-friendly lender Silvergate Bank. Silvergate shares could hit a record low on Thursday if those losses hold through the regular trading session. -
Signature Bank
SBNY,
-8.73%
stock fell 7% in the wake of heavy losses for fellow lender Silvergate Capital, over its plans to liquidate its digital financial services company. Losses for Signature come even as the commercial lender has said it is winding down its exposure to crypto. -
SVB Financial Group stock
SIVB,
-47.48%
cratered 39% to lead S&P 500 decliners and put the stock on track for its worst one-day performance in 23 years. The company, which finances tech startups, announced a dilutive stock offering and said it expects the sale of $21 billion of securities to result in a loss of approximately $1.8 billion in the first quarter. -
General Motors Co.’s stock
GM,
-3.62%
slid 2.4% after the auto maker announced a voluntary separation program that is expected to lead to an employee separation charge of $1.5 billion. The announcement comes a little over a week after The Detroit News reported that GM was cutting about 500 jobs, which was roughly a month after the company said it wasn’t planning layoffs. But on Jan. 31, the company said it planned to implement a cost-cutting program aimed at cutting costs by $2.0 billion a year by 2024. -
MongoDB Inc.
MDB,
-9.21%
shares dropped 10% after the database company’s revenue outlook fell short, overshadowing better-than-expected fourth-quarter results. MongoDB expects revenue of $344 million to $348 million for the current fiscal quarter, short of the $354.7 million expected by analysts surveyed by FactSet. -
Genesco Inc.’s stock
GCO,
-10.28%
fell 13% after the parent of retailer brands Johnston & Murphy, Journeys and Journeys Kidz reported mixed fiscal fourth-quarter results and provided a downbeat full-year profit outlook. For fiscal 2024, the company expects adjusted EPS of $5.10 to $5.90, below the current FactSet average estimate of $6.83. -
Credit Suisse Group AG’s U.S-listed shares
CS,
-3.79%
fell 4% in premarket trade after the Swiss bank said publication of its annual report for 2022 would be delayed due to a late call from the Securities and Exchange Commission, which questioned its 2019 and 2020 cash-flow statements.
Also on MarketWatch: This fund has increased its dividend for 56 straight years. Now it’s snapping up GE.
Live coverage of the Senate hearing on the Ohio train derailment, click here
[ad_2]
Source link
