Here are some of the biggest movers on Thursday as stocks U.S. stocks extend a rally.
Stock gainers:
-
U.S.-listed shares of JD.com Inc.
JD,
+8.55%
were rising 7% in morning trading after the company disclosed plans to pursue separate Hong Kong listings for two business units. Alibaba Group Holding Ltd.
BABA,
+3.43%
shares were ahead more than 3% after Bloomberg News reported that the company has started to prepare for a Hong Kong initial public offering of its Cainiao logistics business. -
Philip Morris International Inc.‘s
PM,
+1.72%
stock was ahead about 2% after JPMorgan Chase & Co. upgraded the tobacco company’s stock to overweight from neutral and hiked its price target to $116 a share from $109 a share. -
EVgo Inc.‘s
EVGO,
+24.35%
stock was rocketing 27%, after the EV-charging infrastructure company saw its revenue grow almost fourfold as it topped expectations. -
Concentrix Corp.
CNXC,
+0.27%
shares were off 6% following news the customer experience solutions and technology provider will buy Webhelp in a deal valued at $4.8 billion including debt. -
Juniper Networks Inc.
JNPR,
+1.30%
shares were rising more than 1% after Evercore ISI turned bullish on the networking name, cheering the company’s operating leverage. -
Shares of Paycom Software Inc.
PAYC,
+3.83%
were ahead 4% and shares of Paylocity Holding Corp.
PCTY,
+2.21%
were up 3% after DA Davidson analyst Robert Simmons upgraded both names to buy from neutral, writing of “limited downside risk to estimates outside of a severe recession.” Paycom’s stock was leading S&P 500
SPX,
+0.19%
gainers.
Stock decliners:
-
Shares of RH
RH,
-2.92% ,
which operates furniture retailer Restoration Hardware, fell 2% after the company logged a decline in profit and sales in the latest quarter, reflecting ongoing challenges stemming from a slower economy. -
Bed Bath & Beyond Inc.‘s
BBBY,
-24.78%
stock was plunging 16% after the retailer announced an at-the-market offering to sell up to $300 million in stock and also delivered downbeat preliminary results for its latest quarter. -
Shares of VirnetX Holding Corp.
VHC,
-10.29%
were falling 10% in morning action after the company declared a special cash dividend of $1 a share and signaled that it was “close to a final outcome in our litigation with Apple.” The shares had originally been up sharply premarket following that announcement. -
Roku Inc.
ROKU,
-4.11%
shares were off 3% in morning trading after the streaming company said it would lay off 200 employees and exit some office facilities. -
Shares of PacWest Bancorp
PACW,
-4.67%
were declining more than 3% in Thursday’s action after the name was announced to be moving to the S&P SmallCap 600 from the S&P MidCap 400. Shares of other regional banks including Western Alliance Bancorp
WAL,
-2.27%
and First Republic Bank
FRC,
-3.96%
were falling as well.
