Zscaler – Zscaler’s stock jumped 21.9% after the company reported strong profitability in the most recent quarter. On $318 million in revenue, the company earned 25 cents per share in adjusted earnings. Refinitiv polled analysts predicted earnings of 20 cents per share on $305 million in revenue.
DocuSign – The stock increased 10.5% after the electronic agreement company’s quarterly results above analyst estimates. DocuSign’s revenue prediction for the third quarter was also beyond expectations, as was its full-year outlook.
Regeneron Pharmaceuticals – Following the revelation of favourable results from its eye medication trial, Morgan Stanley upgraded shares to overweight from equal weight, resulting in a 2.2% increase in the pharmaceutical stock. On the heels of such results, Regeneron jumped about 19% the day before.
Lyft – The ride-hailing business rose 5.5% as social media outlets speculated that Lyft could be a target for purchase. The stock had risen 17% the day before.
Kroger – The supermarket chain’s shares rose 7.4% after exceeding earnings estimates in the previous quarter and raising its full-year guidance.
GameStop, Bed Bath & Beyond – On Friday, two of the major meme stocks outperformed as investors re-invested in risk assets. GameStop shares climbed over 12%, while Bed Bath & Beyond rose 8.1%. There was no obvious reason for either stock’s rise.
RH – Following a better-than-expected quarterly report, shares of the company formerly known as Restoration Hardware surged 4.5%. On $992 million in revenue, RH earned an adjusted $8.08 per share. Refinitiv polled analysts predicted $6.71 per share on $968 million in revenue.
Tesla – Tesla’s shares increased 3.6% after a letter to the Texas Comptroller’s Office disclosed that the electric car company is considering locating a lithium factory in the state to manufacture electric vehicle batteries.
Navient – Shares of the student loan servicer fell 3.2% after Barclays downgraded it to equal weight, citing risks associated with President Joe Biden’s debt forgiveness plan that could harm the company’s earnings in the future.
Enphase Energy – Enphase fell 3.7% after Guggenheim reduced its rating from buy to neutral, stating that the energy stock is “already fairly valued and that upside to our forecasts is doubtful.
Virgin Galactic – Virgin Galactic shares fell 4.5% after Bernstein downgraded the stock to underperform from market perform and reduced its price target to $4 per share from $7. Analyst Douglas Harned cited dwindling trust in the space tourism company’s success.
Caterpillar – The stock increased 3.5% after the construction equipment manufacturer announced a settlement with the Internal Revenue Service, ending a multiyear tax dispute without penalties.
National Beverage – Shares fell 7.4% after the company’s most recent earnings report disappointed investors. According to StreetAccount, National Beverage earned 38 cents per share on revenue of $318.12 million, compared to average projections of 55 cents per share on revenue of $327.29 million.
Zumiez – The clothes retailer’s stock dropped 3.8% after it revealed dismal performance for the most recent quarter. Earnings of 16 cents per share fell short of the StreetAccount estimate of 47 cents per share. The company’s gross margin fell short of estimates as well.