Western Alliance Posts Upbeat Earnings, Joins Abacus Life, SLB And Other Big Stocks Moving Higher On Friday

U.S. stocks were lower, with the Dow Jones index falling around 250 points on Friday.

Shares of Western Alliance Bancorporation WAL rose sharply during Friday's session following upbeat quarterly results.

Western Alliance reported quarterly earnings of $1.75 per share which beat the analyst consensus estimate of $1.71 per share. The company reported quarterly sales of $771.80 million which beat the analyst consensus estimate of $737.64 million, according to data from Benzinga Pro.

Western Alliance Bancorporation shares gained 7.2% to $76.16 on Friday.

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

• Hawaiian Electric Industries, Inc. HE shares gained 36.1% to $17.35 following a report suggesting the company reached a settlement plan over the Maui wildfires.
• Abacus Life Inc ABL gained 19.3% to $10.00 after the company reported preliminary second-quarter revenue results above estimates. The company announced a definitive agreement to acquire Carlisle Management Company.
• MoneyLion Inc. ML rose 11.6% to $71.21. MoneyLion will release its financial results for the second quarter of 2024 on Tuesday, Aug. 6, 2024.
• TROOPS Inc TROO gained 11.4% to $3.93.
• HIVE Digital Technologies Ltd. HIVE climbed 9.8% to $4.02. B. Riley Securities analyst Lucas Piper initiated coverage on HIVE Digital Technologies with a Buy rating and announced a price target of $6.
• Fitell Corporation FTEL gained 9.4% to $21.54.
• Intuitive Surgical, Inc. ISRG gained 8.3% to $450.52 after the company reported better-than-expected second-quarter financial results.
• Torrid Holdings Inc. CURV climbed 7.7% to $8.00.
• MicroStrategy Incorporated MSTR rose 7.6% to $1,674.00
• Zhihu Inc. ZH gained 7.2% to $3.28.
• Kuke Music Holding Limited KUKE rose 6.7% to $1.28.
• Coinbase Global, Inc. COIN rose 6.5% to $248.42. Needham analyst John Todaro reiterated Coinbase with a Buy and maintained a $260 price target.
• Dave Inc. DAVE gained 5.6% to $39.51.
• Inter & Co, Inc. INTR rose 5.6% to $6.89.
• Schlumberger Limited SLB gained 3.5% to $50.42 following upbeat quarterly results.

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