Arm Holdings Posts Upbeat Results, Joins Hershey, CyberArk Software, Wynn Resorts And Other Big Stocks Moving Higher On Thursday

U.S. stocks traded mixed, with the Dow Jones gaining around 20 points on Thursday.

Shares of Arm Holdings plc ARM shares rose sharply during Thursday’s session after the company reported better-than-expected third-quarter financial results and issued FY24 guidance above estimates.

Arm Holdings reported adjusted quarterly earnings of 29 cents per share, which beat the analyst consensus estimate of 25 cents by 16%. The company reported quarterly sales of $824 million, which beat the analyst consensus estimate of $761.62 million by 8.19%.

Arm Holdings shares surged 47.3% to $113.41 on Thursday.

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

• Oscar Health, Inc. OSCR shares gained 21.2% to $16.27 after the company reported better-than-expected fourth-quarter financial results.
• Mineralys Therapeutics, Inc. MLYS climbed 18.5% to $14.77. Mineralys Therapeutics announced a $120 million private placement financing.
• Viking Therapeutics, Inc. VKTX gained 17.6% to $28.78 following quarterly results.
• Bitdeer Technologies Group BTDR rose 17.6% to $8.34.
• QuinStreet, Inc. QNST gained 15.4% to $14.90 following upbeat results.
• AST SpaceMobile, Inc. ASTS rose 15% to $2.9950. AST SpaceMobile announced a new contract award with United States Government through prime contractor.
• Monolithic Power Systems, Inc. MPWR climbed 14.3% to $737.95 after the company reported better-than-expected quarterly financial results and increased its quarterly cash dividend from $1 to $1.25 per share.
• Ralph Lauren Corporation RL gained 12.4% to $165.41 following strong earnings.
• Advanced Drainage Systems, Inc. WMS gained 12.3% to $155.12 after the company reported better-than-expected third-quarter financial results, raised FY24 net sales guidance above estimates and increased its quarterly cash dividend.
• Belden Inc. BDC rose 12% to $83.42 following upbeat results.
• Worthington Steel, Inc. WS climbed 10% to $33.13.
• Marathon Digital Holdings, Inc. MARA gained 9.9% to $19.27.
• The Walt Disney Company DIS gained 9.5% to $108.54 after the company reported better-than-expected earnings for its first quarter and declared a cash dividend of 45 cents per share. The company announced a new share repurchase program and said it expects fiscal 2024 earnings of roughly $4.60 per share. Disney also announced a $1.5 billion investment in leading video game company Epic Games.
• Tapestry, Inc. TPR gained 9.5% to $44.22 following upbeat results.
• Spectrum Brands Holdings, Inc. SPB climbed 9% to $87.18 following better-than-expected quarterly earnings.
• EverQuote, Inc. EVER rose 8.3% to $14.57. EverQuote is expected to report fourth quarter financial results after the market close on Feb. 26, 2024.
• TAL Education Group TAL climbed 8% to $13.02.
• News Corporation NWS gained 7.4% to $ 27.16 after the company reported better-than-expected quarterly financial results.
• Masco Corporation MAS rose 7.1% to $75.43 after the company reported better-than-expected fourth-quarter financial results and issued FY24 adjusted EPS guidance above estimates.
• CyberArk Software Ltd. CYBR gained 7.1% to $260.39 after the company reported fourth-quarter results and provided guidance.
• Wynn Resorts, Limited WYNN climbed 6.8% to $106.71 after the company reported better-than-expected quarterly financial results.
• British American Tobacco p.l.c. BTI rose 6.7% to $31.38 after the company reported FY24 results.
• The Hershey Company HSY gained 6.2% to $206.24 after the company reported mixed fourth-quarter financial results and raised its quarterly dividends.
• Kellanova K gained 3.5% to $55.59 following upbeat earnings.
• Harley-Davidson, Inc. HOG gained 3.3% to $35.68 following upbeat earnings.

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