U.S. Stocks Mixed as Nasdaq Composite Gains 100 Points on Friday
U.S. stocks traded mixed on Friday, with the Nasdaq Composite leading the way by gaining around 100 points. The market saw some notable gains from various companies, including SPS Commerce, Inc., which experienced a sharp rise in its stock price following upbeat results.
SPS Commerce posted adjusted earnings of 75 cents per share, beating market estimates of 69 cents per share. Additionally, the company’s quarterly sales came in at $144.97 million, surpassing expectations of $143.09 million. These positive results contributed to a significant increase in SPS Commerce shares, which jumped 10.2% to $202.57 on Friday.
Other big stocks also recorded gains during the session. Masonite International Corporation (DOOR) saw a 34.5% increase in its stock price to $129.99 after Owens Corning announced its acquisition of the company for $3.9 billion. Cloudflare, Inc. (NET) jumped 23.5% to $111.49 after reporting better-than-expected fourth-quarter financial results and issuing positive first-quarter guidance.
CleanSpark, Inc. (CLSK) experienced a 22% rise in its stock price to $12.81 after reporting a year-over-year increase in first-quarter GAAP EPS and better-than-expected sales results. Centessa Pharmaceuticals plc (CNTA) gained 20.5% to $8.99 as it prepared to present additional data from a Phase 2a study at a medical conference. IGM Biosciences, Inc. (IGMS) climbed 19.2% to $15.44, and Natural Grocers by Vitamin Cottage, Inc. (NGVC) rose 18.2% to $17.51 following their respective quarterly results.
Soho House & Co Inc. (SHCO) surged 15.7% to $5.79 after announcing that its board had evaluated certain strategic transactions in the fall of 2023. Matrix Service Company (MTRX) gained 13.1% to $12.82, while Central Garden & Pet Company (CENT) saw a 10.4% increase to $43.03 after reporting better-than-expected first-quarter financial results.
Impinj, Inc. (PI) rose 10.2% to $117.18 after reporting better-than-expected fourth-quarter financial results and issuing first-quarter guidance above estimates. Blue Owl Capital Inc. (OWL) gained 8.8% to $17.83, and Ocular Therapeutix, Inc. (OCUL) surged 8.2% to $5.44 following positive analyst coverage and price target announcements.
Mueller Water Products, Inc. (MWA) rose 8% to $14.99, UiPath Inc. (PATH) climbed 7.4% to $26.16, and Lumentum Holdings Inc. (LITE) gained 7.4% to $49.10 following their respective positive earnings reports. Power Integrations, Inc. (POWI) rose 7.1% to $83.87 after reporting better-than-expected earnings, and C3.ai, Inc. (AI) gained 7% to $28.74.
Arvinas, Inc. (ARVN) climbed 6.6% to $51.49, and DigitalOcean Holdings, Inc. (DOCN) gained 6.6% to $39.15, rounding out the list of companies with notable stock price increases.
Overall, the market saw a mix of positive and negative movements, with the Nasdaq Composite leading the way in gains. Investors will continue to monitor these companies and the broader market for further developments.
Disclaimer: This article is not intended as investment advice and is for informational purposes only.
