Alaska Air Posts Upbeat Earnings, Joins Xerox, United Rentals And Other Big Stocks Moving Higher On Thursday

U.S. stocks traded higher, with the Dow Jones gaining around 50 points on Thursday.

Shares of Alaska Air Group, Inc. ALK rose during Thursday’s session following upbeat earnings.

Alaska Air Group reported fourth-quarter operating revenue of $2.55 billion, up 3% Y/Y, in-line with the consensus of $2.55 billion. The company reported adjusted EPS of $0.30, down from $0.92 a year ago, beating the consensus estimate of $0.18.

Alaska Air Group shares rose 5.5% to $37.78 on Thursday.

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

• Vera Therapeutics, Inc. VERA shares jumped 40.2% to $23.86 after the company announced 72-week data from the OLE period of its Phase 2b ORIGIN clinical trial. Also, Oppenheimer initiated coverage on the stock with an Outperform rating and announced a $26 price target.
• AlTi Global, Inc. ALTI surged 18.8% to $6.71 after Raymond James upgraded the stock from Market Perform to Strong Buy and announced a $9 price target.
• Hut 8 Corp. HUT rose 14.5% to $7.27.
• Biomea Fusion, Inc. BMEA gained 14.1% to $17.12.
• Alpine Immune Sciences, Inc. ALPN jumped 13.4% to $21.04.
• United Rentals, Inc. URI gained 13.3% to $653.64 after the company reported better-than-expected fourth-quarter financial results and issued FY24 revenue guidance.
• Richtech Robotics Inc. RR rose 12% to $8.40. Richtech Robotics signed a Letter of Intent with Ghost Kitchens International.
• Xerox Holdings Corporation XRX gained 11.5% to $18.33 following quarterly results.
• Nokia Oyj NOK gained 11.5% to $3.8050 after the company reported fourth-quarter financial results.
• American Airlines Group Inc. AAL jumped 10.4% to $15.39 after the company reported better-than-expected fourth-quarter results.
• International Business Machines Corporation IBM gained 10.3% to $191.84 after the company reported better-than-expected fourth-quarter financial results.
• ADT Inc. ADT gained 9.9% to $6.80 after the company announced it will exit its residential solar business. The company also said it would increase its dividend and authorize a $350 million share repurchase program.
• TAL Education Group TAL gained 8.8% to $12.30 following a third-quarter revenue beat. Additionally, JP Morgan upgraded the stock to Overweight.
• NextEra Energy Partners, LP NEP rose 7.2% to $28.76 after the company reported quarterly financial results.
• W. R. Berkley Corporation WRB gained 7.1% to $83.23 after the company reported better-than-expected quarterly financial results.
• Terex Corporation TEX gained 6.4% to $61.35.

Now Read This: Visa Gears Up For Q4 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call