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US Stocks Experience Mixed Trading Day as Dow Jones Plunges Over 200 Points
Tuesday’s trading session saw the US stock market exhibit mixed performance, with the Dow Jones index tumbling more than 200 points. Despite this downturn, several stocks managed to buck the trend and record significant gains.
The J. M. Smucker Company (SJM) was one of the day’s top performers, with its shares surging 6.2% to $120.60. This impressive spike was triggered by the company’s better-than-expected second-quarter financial results and its decision to raise its FY25 adjusted EPS guidance, with the midpoint exceeding analyst estimates.
Several other stocks also experienced notable gains during Tuesday’s session. Hesai Group (HSAI) shares skyrocketed 59% to $7.55, driven by the company’s impressive third-quarter sales results, which surpassed market expectations. This significant increase in sales is a testament to the company’s growing presence in the industry.
Embecta Corp (EMBC) also had a remarkable day, with its shares rising 30.2% to $18.76. The company’s fourth-quarter financial results exceeded analyst estimates, and its FY25 adjusted EPS guidance was higher than expected. This positive performance is a reflection of the company’s successful strategies and strong market position.
LexinFintech Holdings Ltd (LX) saw its shares surge 22.8% to $4.1750, following the company’s announcement that its board had approved an amendment to its dividend policy, increasing the payout ratio. Additionally, the company reported its third-quarter financial results, which were well-received by investors.
Semtech Corporation (SMTC) shares rose 20.3% to $64.32, driven by the company’s impressive third-quarter financial results and its decision to issue fourth-quarter guidance with a midpoint above estimates. This demonstrates the company’s confidence in its future performance and ability to meet market expectations.
Arrowhead Pharmaceuticals, Inc (ARWR) shares gained 18.1% to $22.17, following the company’s announcement of a global licensing and collaboration agreement with Sarepta Therapeutics for multiple clinical and preclinical siRNA programs. This strategic partnership is expected to drive growth and innovation in the company’s pipeline.
Other notable gainers included Neurogene Inc (NGNE), which rose 15% to $25.65, and SmartRent, Inc (SMRT), which gained 13.8% to $1.8450. Sangamo Therapeutics, Inc (SGMO) shares also increased 12.6% to $2.1850, while POET Technologies Inc (POET) surged 12.2% to $4.77, following its recent announcement of plans to expand its capacity.
Sarepta Therapeutics, Inc (SRPT) shares gained 9.1% to $125.10, driven by the company’s announcement of a global licensing and collaboration agreement with Arrowhead Pharmaceuticals for multiple clinical and preclinical siRNA programs. This partnership is expected to drive growth and innovation in the company’s pipeline.
NRG Energy, Inc (NRG) shares rose 8% to $99.21, following a upgrade from Hold to Buy by Jefferies, along with a price target increase from $93 to $113. Exact Sciences Corporation (EXAS) shares surged 7.8% to $59.45, ahead of the company’s presentation of 10 abstracts at the San Antonio Breast Cancer Symposium (SABCS).
Woodward, Inc (WWD) shares gained 7.4% to $192.62, driven by the company’s better-than-expected fourth-quarter EPS and sales. Rocket Lab USA, Inc (RKLB) shares rose 7.3% to $25.82, while Hanesbrands Inc (HBI) shares gained 5.8% to $8.94, following a upgrade from Neutral to Buy by UBS analyst Jay Sole, along with a price target increase from $9 to $11.
