Stocks rose Friday after data showed U.S. employers added more jobs than expected last month.
Here are stocks that made moves:
Apple
rose 0.8% to $195.77, and stopped short of its record closing high of $196.45 notched on July 31. There is increasing Wall Street optimism the company can return to growth in 2024 after a four-quarter run of revenue declines.
HashiCorp
fell 16% to $20.81. The software infrastructure company was downgraded to Market Perform from Outperform at TD Cowen and had its price target trimmed to $23 from $28 on the heels of a quarterly billings miss. It also received a slew of other price target slashes from Wall Street firms.
Paramount
stock jumped 12% on unconfirmed media reports Skydance Media and RedBird Capital are contemplating a possible takeover of the media giant’s controlling shares.
RH
tumbled 14% after the owner of
Restoration Hardware
reported an unexpected third-quarter adjusted net loss of $8 million, with revenue down 14% from a year ago. The home furnishings group said it has experienced increased headwinds, particularly in early October when mortgage rates peaked above 8%.
Smith & Wesson Brands
dropped 9.1% after the gun maker reported a fall in profit from a year ago. While sales in the October quarter rose 3% year over year, gross profit tumbled 19% with gross margins shrinking to 25% from 32%.
DocuSign
gained 4.8% after reporting better-than-expected results for the October quarter. The e-signature company showed signs of recovery following a post-Covid slowdown, with earnings per share and revenue both firmly ahead of Wall Street’s estimates.
Lululemon Athletica
rose 5.4% after the athletic apparel retailer posted strong third-quarter results, with revenue growth at 19% and earnings ahead of estimates.
Qorvo
popped 3.6% to $103.97 after Morgan Stanley analysts upgraded the wireless-chip company to Overweight from Equal Weight and lifted their price target to $134 from $120.
Carrier Global
rose 4.5% after the heating, ventilation, and air conditioning company said it entered a definitive agreement to sell its security business, Global Access Solutions, to industrial firm
Honeywell International
in a deal with an enterprise value of $4.95 billion. Honeywell stock fell 1.6%.
Write to Jack Denton at [email protected] and Emily Dattilo at [email protected]
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