© Reuters. World Acceptance Posts Upbeat Earnings, Joins Kaman, Spirit Airlines And Other Big Stocks Moving Higher On Friday
Benzinga – by Avi Kapoor, Benzinga Staff Writer.
U.S. stocks traded higher, with the Dow Jones index gaining around 50 points on Friday.
Shares of World Acceptance Corporation (NASDAQ: WRLD) rose sharply during Friday’s session following upbeat quarterly results.
World Acceptance posted quarterly earnings of $2.84 per share, beating market estimates of $1.88 per share. The company’s quarterly sales came in at $137.75 million versus expectations of $130.58 million.
World Acceptance shares jumped 10.2% to $134.00 on Friday.
Here are some other big stocks recording gains in today’s session.
- Kaman Corporation (NASDAQ: KAMN) shares gained 101.3% to $45.14 after the company announced it will be acquired by Arcline for $1.8 billion.
- Edgewise Therapeutics, Inc. (NASDAQ: EWTX) jumped 37.3% to $13.30 after the company announced pricing of its $240 million underwritten offering of 21,818,182 shares at $11 per share.
- Tricon Residential Inc. (NYSE: TCN) shares rose 28.2% to $11.06 Blackstone and Tricon Residential entered into an arrangement agreement under which Blackstone Real Estate Partners X together with Blackstone Real Estate Income Trust, Inc. will acquire all outstanding common shares of Tricon for $11.25 per share in cash.
- Spirit Airlines, Inc. (NYSE: SAVE) climbed 24% to $7.06 after the company announced preliminary fourth-quarter and full year 2023 estimates, issued first-quarter 2024 guidance and said the merger agreement between the company and JetBlue “remains in full force and effect.”
- Super Micro Computer, Inc. (NASDAQ: SMCI) gained 23.1% to $383.31 after the company announced updated financial guidance for the second-quarter, which surpassed its previous outlook.
- Silk Road Medical, Inc (NASDAQ: SILK) shares rose 13.1% to $14.91 after Stifel upgraded the stock from Hold to Buy and raised its price target from $9 to $20.
- Wayfair Inc. (NYSE: W) surged 11.6% to $56.81 after the company announced a workforce realignment plan, which includes a workforce reduction involving approximately 13% of its global workforce.
- NewAmsterdam Pharma Company N.V. (NASDAQ: NAMS) gained 10.5% to $19.44.
- Ally Financial Inc. (NYSE: ALLY) surged 9.4% to $35.15. Synchrony Financial announced plans to acquire Ally Financial’s point of sale financing business. Ally Financial also posted upbeat quarterly sales.
- MacroGenics, Inc. (NASDAQ: MGNX) rose 7.7% to $11.59.
- Fiverr International Ltd. (NYSE: FVRR) rose 6.9% to $26.41. Goldman Sachs analyst Eric Sheridan upgraded Fiverr Intl from Neutral to Buy.
- Plug Power Inc. (NASDAQ: PLUG) gained 6.4% to $2.5750.
- WNS (Holdings) Limited (NYSE: WNS) gained 4.4% to $65.71. Needham analyst Mayank Tandon maintained WNS with a Buy and raised the price target from $80 to $85.
- State Street Corporation (NYSE: STT) rose 4.3% to $77.51 after the company reported better-than-expected fourth-quarter financial results and announced a new authorization to repurchase up to $5 billion of common shares.
- Texas Instruments Incorporated (NASDAQ: TXN) gained 3.8% to $173.18. UBS analyst Timothy Arcuri upgraded Texas Instruments from Neutral to Buy and raised the price target from $170 to $195.
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