Eaton Posts Strong Results, Joins Ferrari, Boot Barn And Other Big Stocks Moving Higher On Thursday

U.S. stocks traded higher, with the Dow Jones gaining over 100 points on Thursday.

Shares of Eaton Corporation plc ETN rose sharply during Thursday’s session after the company reported better-than-expected fourth-quarter financial results and issued FY24 guidance.

Eaton posted adjusted earnings of $2.55 per share, beating market estimates of $2.47 per share. The company’s quarterly sales came in at $5.97 billion versus expectations of $5.91 billion, according to data from Benzinga Pro.

Eaton shares gained 6.2% to $261.48 on Thursday.

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

• Cimpress plc CMPR shares surged 28.8% to $96.90 after the company reported better-than-expected second-quarter financial results and said the board authorized the repurchase of up to $150 million of company shares.
• Nextracker Inc. NXT rose gained 18.8% to $53.79 after the company reported better-than-expected third-quarter financial results.
• SunPower Corporation SPWR gained 18.1% to $3.5791.
• Corteva, Inc. CTVA rose 16.2% to $52.84 after the company reported better-than-expected quarterly financial results, issued 2024 guidance and announced a $1 billion repurchase plan.
• Nextracker Inc. NXT surged 16.1% to $52.56 after the company reported better-than-expected quarterly financial results.
• Olema Pharmaceuticals, Inc OLMA gained 13.3% to $14.78. Olema Pharmaceuticals filed prospectus related to resale of up to 13.2 million shares of common stock held by selling stockholders.
• Plug Power Inc. PLUG rose 12.2% to $4.9900. Plug Power said it completed first customer fill of liquid green hydrogen at its Georgia plant.
• Credit Acceptance Corporation CACC gained 11.9% to $605.43 following upbeat earnings.
• Digi International Inc. DGII rose 11.7% to $27.17 following strong results.
• EZCORP, Inc. EZPW rose 11.6% to $9.61 after the company reported better-than-expected quarterly financial results.
• Allegro MicroSystems, Inc. ALGM surged 10.9% to $28.77 following upbeat earnings.
• Ferrari N.V. RACE rose 10.4% to $382.17 after the company reported fourth-quarter financial results and issued 2024 guidance.
• Lancaster Colony Corporation LANC surged 10% to $202.15 following strong earnings.
• Absci Corporation ABSI gained 9.8% to $4.35.
• Etsy, Inc. ETSY climbed 9.6% to $72.95 after the company announced the appointment of Elliott Investment Management’s Marc Steinberg to its board.
• Boot Barn Holdings, Inc. BOOT rose 8.4% to $77.79 following upbeat earnings.
• KB Financial Group Inc. KB gained 8.3% to $45.77.
• Arvinas, Inc. ARVN rose 8.3% to $44.94. Goldman Sachs analyst Paul Choi initiated coverage on Arvinas with a Buy rating and announced a price target of $70.
• Sally Beauty Holdings, Inc. SBH climbed 7.4% to $13.24 following upbeat earnings.
• Norfolk Southern Corporation NSC gained 7.4% to $251.33. The Wall Street Journal reported that Ancora-led investor group has a $1 billion stake in Norfolk Southern, citing sources.
• EverQuote, Inc. EVER climbed 7.2% to $13.53.
• Tenet Healthcare Corporation THC rose 6.2% to $87.76.
• Deutsche Bank Aktiengesellschaft DB shares rose 6.2% to $13.65 after the company posted fourth-quarter results and announced plans to cut 3,500 jobs. Deutsche Bank plans to increase both share repurchases and dividends by at least 50% year-over-year in 2024.
• Ball Corporation BALL jumped 6% to $58.78 following strong earnings.
• Li Auto Inc. LI climbed 5.8% to $29.30. Li Auto delivered 31,165 vehicles in January 2024, up 105.8% year over year.

Now Read This: AT&T To Rally Around 19%? Here Are 10 Top Analyst Forecasts For Thursday