Ambarella Posts Upbeat Results, Joins Gap, PagerDuty, Elastic And Other Big Stocks Moving Higher On Friday

U.S. stocks were mixed, with the Nasdaq Composite falling around 1% on Friday.

Shares of Ambarella, Inc. (NASDAQ:AMBA) rose sharply during Friday's session following strong first-quarter earnings and upbeat second-quarter guidance.

Ambarella posted adjusted loss of 26 cents per share, compared to market estimates for a loss of 31 cents per share. The company's quarterly sales came in at $54.473 million beating expectations of $53.875 million, according to data from Benzinga Pro.

Ambarella shares jumped 23% to $59.42 on Friday.

Here are some other big stocks recording gains in today's session.

• Latam Logistic Properties, S.A. (NYSE:LPA) shares jumped 79.5% to $464.77.
• The Gap, Inc. (NYSE:GPS) shares jumped 21.6% to $27.38 after reporting strong quarterly results
• AC Immune SA (NASDAQ:ACIU) gained 16.6% to $4.6310. BTIG analyst Thomas Shrader initiated coverage on AC Immune with a Buy rating and announced a price target of $8.
• Larimar Therapeutics, Inc. (NASDAQ:LRMR) rose 13.9% to $8.09. Larimar Therapeutics was selected by the FDA to participate in START Pilot Program for Nomlabofusp in Friedreich’s Ataxia.
• DoubleDown Interactive Co., Ltd. (NASDAQ:DDI) climbed 13.1% to $13.80.
• American Superconductor Corporation (NASDAQ:AMSC) gained 11% to $19.35.
• PENN Entertainment, Inc. (NASDAQ:PENN) gained 11% to $16.24 after shareholder Donerail Group sent a letter to the company’s board saying the company could get ‘Up to Double Its Current Trading Price in the Event of a Sale.’
• PagerDuty, Inc. (NYSE:PD) climbed 10.7% to $19.87 following a first-quarter earnings beat.
• V.F. Corporation (NYSE:VFC) gained 10% to $13.57 after the company appointed former Lululemon Chief Product Officer Michelle Choehas as the Global Brand President of Vans.
• Elastic N.V. (NASDAQ:ESTC) shares rose 9.6% to $102.09 following a fourth-quarter earnings beat.
• Zscaler, Inc. (NASDAQ:ZS) gained 8.6% to $170.04 after the company reported better-than-expected third-quarter earnings.
• flyExclusive, Inc. (NASDAQ:FLYX) surged 7.6% to $5.64. flyExclusive announced the appointment of two key business leaders.
• United States Cellular Corporation (NYSE:USM) gained 5.8% to $53.70. On Thursday, Wells Fargo analyst Eric Luebchow upgrades United States Cellular from Equal-Weight to Overweight and raised the price target from $38 to $75.
• Telephone and Data Systems, Inc. (NYSE:TDS) gained 5.4% to $19.29.
• Janux Therapeutics, Inc. (NASDAQ:JANX) rose 5.3% to $53.08.
• Nordstrom, Inc. (NYSE:JWN) gained 4.8% to $22.04 following mixed first-quarter financial results.
• Elevance Health, Inc. (NYSE:ELV) gained 4.5% to $530.16.
• Asana, Inc. (NYSE:ASAN) gained 4.3% to $13.70. Asana posted a narrower-than-expected loss for its first quarter, while sales topped estimates.
• The Cooper Companies, Inc. (NYSE:COO) rose 4% to $93.86 following upbeat quarterly earnings.