Skechers Reports Upbeat Earnings, Joins Tutor Perini, AppFolio, Newell Brands And Other Big Stocks Moving Higher On Friday

U.S. stocks were higher, with the Dow Jones jumping over 150 points on Friday.

Shares of Skechers U.S.A., Inc. SKX rose sharply during Friday's session after the company reported better-than-expected first-quarter FY24 earnings.

Skechers reported first-quarter FY24 sales growth of 12.5% year-on-year to $2.251 billion, beating the analyst consensus estimate of $2.204 billion. EPS of $1.33 beat the analyst consensus of $1.10, according to data from Benzinga Pro.

Skechers raised FY24 sales outlook from $8.60 billion-$8.80 billion to $8.725 billion-$8.875 billion, against an estimate of $8.781 billion. The company also raised FY24 EPS outlook from $3.65-$3.85 to $3.95-4.10 versus an estimate of $3.90.

Skechers U.S.A. shares climbed 16% to $68.20 on Friday.

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

• Universal Logistics Holdings, Inc. ULH shares jumped 45.2% to $47.76 after the company reported better-than-expected first-quarter financial results.
• Exponent, Inc. EXPO shares gained 28.5% to $102.41 after the company reported better-than-expected first-quarter financial results.
• Snap Inc. SNAP rose 23% to $14.02 after the company reported better-than-expected first-quarter financial results and issued second-quarter revenue guidance above estimates. Also, the company reported a year-over-year increase in quarterly daily active users.
• Tutor Perini Corporation TPC climbed 22.2% to $16.98 after the company reported better-than-expected first-quarter financial results and issued FY24 EPS guidance.
• U.S. Silica Holdings, Inc. SLCA rose 20% to $15.67 after the company reported first-quarter financial results and entered into a definitive agreement to be acquired by funds managed by affiliates of Apollo.
• Cullinan Therapeutics, Inc. CGEM shares jumped 19.5% to $23.03.
• ATRenew Inc. RERE gained 18.9% to $1.9150. ATRenew announced appointment of new director.
• ZIM Integrated Shipping Services Ltd. ZIM rose 17.5% to $13.39.
• AppFolio, Inc. APPF gained 16% to $251.22 after the company reported better-than-expected first-quarter financial results and raised its FY24 revenue guidance above estimates.
• Newell Brands Inc. NWL rose 15% to $7.97 after the company reported better than expected first-quarter earnings and issued guidance.
• ResMed Inc. RMD shares gained 13.7% to $208.63 after the company reported better-than-expected third-quarter financial results.
• Rogers Corporation ROG rose 12.7% to $123.46 after the company beat first-quarter EPS and sales estimates.
• Canopy Growth Corporation CGC gained 12.5% to $9.78.
• Sonic Automotive, Inc. SAH surged 12.2% to $63.60. B of A Securities analyst John Murphy upgraded Sonic Automotive from Underperform to Buy and raised the price target from $55 to $68.
• Alphabet Inc. GOOGL GOOG gained 10.6% to $172.52 the company posted upbeat results for its first quarter. Alphabet's board authorized an additional share repurchase program of up to $70 billion and also announced its first-ever quarterly dividend.
• KB Financial Group Inc. KB gained 10% to $55.17 following quarterly results.
• Ouster, Inc. OUST climbed 9.9% to $8.22.
• Redfin Corporation RDFN gained 9.8% to $5.69.
• XPeng Inc. XPEV rose 9.2% to $7.73.
• Kratos Defense & Security Solutions, Inc. KTOS rose 8.8% to $18.80 after Raymond James upgraded the stock from Outperform to Strong Buy and raised its price target from $20 to $27.
• AutoNation, Inc. AN gained 8.6% to $174.20 following second-quarter results.
• Minerals Technologies Inc. MTX gained 7.9% to $76.73 following upbeat earnings.
• SkyWest, Inc. SKYW surged 7.4% to $78.55 after the company reported better-than-expected quarterly financial results.
• Geron Corporation GERN rose 6.6% to $3.7950. Geron is expected to release its first quarter 2024 financial results on Thursday, May 2.
• Super Micro Computer, Inc. SMCI surged 6.6% to $839.70.
• Carlisle Companies Incorporated CSL rose 5.5% to $403.08 after the company reported better-than-expected quarterly financial results.
• Pacific Biosciences of California, Inc. PACB gained 5.1% to $1.45.

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