Chipotle Posts Upbeat Earnings, Joins Cirrus Logic, Emerson Electric, Carlyle Group And Other Big Stocks Moving Higher On Wednesday

U.S. stocks traded higher, with the Dow Jones gaining around 150 points on Wednesday.

Shares of Chipotle Mexican Grill, Inc. CMG rose sharply during Wednesday’s session after the company reported better-than-expected fourth-quarter financial results, issued guidance and announced a share repurchase of up to $200 million.

Chipotle reported fourth-quarter revenue of $2.52 billion, which was up 15.4% year-over-year. The revenue total beat a Street consensus estimate of $2.49 billion, according to data from Benzinga Pro. The company reported earnings per share of $10.36, which beat a Street consensus estimate of $9.75.

Chipotle shares surged 7.7% to $2,678.26 on Wednesday.

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

• Aviat Networks, Inc. AVNW rose 23.7% to $37.20 after the company reported better-than-expected second-quarter financial results and issued FY24 revenue guidance above estimates.
• Enphase Energy, Inc. ENPH climbed 17.7% to $118.36 after the company reported quarterly financial results.
• Sonos, Inc. SONO rose 17.6% to $19.36 after the company reported better-than-expected quarterly financial results.
• XPO, Inc. XPO rose 16.6% to $114.34 after the company reported better-than-expected fourth-quarter financial results.
• Cirrus Logic, Inc. CRUS climbed 15.1% to $90.28 after the company reported better-than-expected quarterly financial results.
• Green Plains Inc. GPRE rose 14.6% to $22.94 following quarterly results.
• Griffon Corporation GFF rose 13.8% to $68.55 following upbeat results.
• REGENXBIO Inc. RGNX climbed 13.3% to $14.78. Regenxbio has completed enrollment at dose level 2 and reported additional interim safety and efficacy in Phase 1/2 AFFINITY DUCHENNE trial of Rgx-202 in patients with Duchenne Muscular Dystrophy ages 4 to11 years old.
• The AZEK Company Inc. AZEK gained 13% to $44.76 as the company reported better-than-expected quarterly financial results.
• O-I Glass, Inc. OI gained 12.7% to $16.19 following upbeat results.
• Frontier Group Holdings, Inc. ULCC climbed 11.3% to $6.93. Frontier reported fourth-quarter financial results and issued guidance.
• SolarEdge Technologies, Inc. SEDG gained 11.3% to $75.00.
• Silicon Laboratories Inc. SLAB rose 11.1% to $131.43 after the company reported better-than-expected quarterly financial results and issued guidance.
• Emerson Electric Co. EMR gained 10.8% to $104.44 after the company reported better-than-expected quarterly earnings and raised FY24 outlook.
• Yum China Holdings, Inc. YUMC shares climbed 9.9% to $41.14 after the company reported fourth-quarter financial results and increased its dividend.
• Trex Company, Inc. TREX gained 9.5% to $91.09.
• The Carlyle Group Inc. CG climbed 9.3% to $44.51 after the company reported better-than-expected quarterly revenues.
• Roblox Corporation RBLX gained 8.6% to $44.08 after the company reported 25% bookings growth in the fourth quarter.
• IHS Holding Limited IHS rose 8.1% to $3.1250.
• Palantir Technologies Inc. PLTR climbed 7.8% to $23.58.
• California Resources Corporation CRC rose 7.4% to $50.47. California Resources announced plans to combine with Aera Energy.
• Arcadium Lithium plc ALTM climbed 7.3% to $4.5494. Piper Sandler analyst Charles Neivert initiated coverage on Arcadium Lithium with an Underweight rating and announced a price target of $4.5.
• Palo Alto Networks, Inc. PANW rose 6.7% to $364.62.
• Carlisle Companies Incorporated CSL climbed 6.5% to $338.34 after the company reported better-than-expected fourth-quarter financial results and issued FY24 guidance.
• Assurant, Inc. AIZ rose 5.8% to $178.71 following upbeat earnings.
• Fortinet, Inc. FTNT gained 4% to $70.13 after the company reported better-than-expected fourth-quarter financial results and issued guidance.

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