General Motors Posts Upbeat Earnings, Joins Corning, HCA Healthcare And Other Big Stocks Moving Higher On Tuesday

U.S. stocks traded slightly lower, with the Dow Jones falling around 20 points on Tuesday.

Shares of General Motors Company GM rose sharply during Tuesday’s session after the company reported better-than-expected fourth-quarter financial results and issued 2024 adjusted EPS guidance above estimates.

General Motors reported a fourth-quarter FY23 sales decline of (0.3)% year-on-year to $42.98 billion, beating the analyst consensus estimate of $38.97 billion. Adjusted EPS of $1.24 beat the consensus estimate of $1.16.

General Motors shares climbed 7.6% to $38.06 on Tuesday.

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

• Sanmina Corporation SANM shares gained 36.7% to $69.21 after the company reported better-than-expected first-quarter financial results and issued second-quarter guidance above estimates.
• Kura Oncology, Inc. KURA gained 16.1% to $21.60. Kura Oncology reported preliminary ziftomenib combination data in acute myeloid leukemia.
• Commvault Systems, Inc. CVLT climbed 11.6% to $91.01 following strong quarterly results.
• Helmerich & Payne, Inc. HP gained 11.6% to $40.49 following upbeat earnings.
• Merchants Bancorp MBIN surged 9.2% to $47.96. Raymond James analyst Daniel Tamayo maintained Merchants Bancorp with a Strong Buy and raised the price target from $44 to $55.
• MSCI Inc. MSCI climbed 8.4% to $597.02 after the company reported better-than-expected fourth-quarter financial results.
• Nayax Ltd. NYAX gained 8.4% to $25.15.
• Nanobiotix S.A. NBTX climbed 8% to $8.26. Nanobiotix reported achievement of $20 million development milestone payment regarding ongoing global Phase 3 head and neck cancer study.
• Corning Incorporated GLW rose 8% to $33.62 following strong sales.
• Applied Optoelectronics, Inc. AAOI gained 7% to $17.08. Rosenblatt analyst Mike Genovese initiated coverage on Applied Optoelectronics with a Buy rating and announced a price target of $23.
• Cognyte Software Ltd. CGNT climbed 5.8% to $7.20.
• HCA Healthcare, Inc. HCA gained 5.4% to $302.29 after the company reported better-than-expected fourth-quarter financial results and issued FY24 guidance above estimates.
• Super Micro Computer, Inc. SMCI climbed 5.4% to $523.28 as the company posted upbeat results for its second quarter.
• Celestica Inc. CLS rose 4.6% to $34.06 after the company reported better-than-expected fourth-quarter financial results and issued first-quarter guidance above estimates.
• Nucor Corporation NUE rose 4.1% to $183.88 following upbeat earnings.
• Hovnanian Enterprises, Inc. HOV gained 3.3% to $179.80.

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