Eaton Posts Strong Results, Joins Ferrari, Boot Barn And Other Big Stocks Moving Higher On Thursday

U.S. stocks traded higher, with the Dow Jones gaining over 100 points on Thursday.

Shares of Eaton Corporation plc (NYSE:ETN) rose sharply during Thursday’s session after the company reported better-than-expected fourth-quarter financial results and issued FY24 guidance.

Eaton posted adjusted earnings of $2.55 per share, beating market estimates of $2.47 per share. The company’s quarterly sales came in at $5.97 billion versus expectations of $5.91 billion, according to data from Benzinga Pro.

Eaton shares gained 6.2% to $261.48 on Thursday.

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

• Cimpress plc (NASDAQ:CMPR) shares surged 28.8% to $96.90 after the company reported better-than-expected second-quarter financial results and said the board authorized the repurchase of up to $150 million of company shares.
• Nextracker Inc. (NASDAQ:NXT) rose gained 18.8% to $53.79 after the company reported better-than-expected third-quarter financial results.
• SunPower Corporation (NASDAQ:SPWR) gained 18.1% to $3.5791.
• Corteva, Inc. (NYSE:CTVA) rose 16.2% to $52.84 after the company reported better-than-expected quarterly financial results, issued 2024 guidance and announced a $1 billion repurchase plan.
• Nextracker Inc. (NYSE:NXT) surged 16.1% to $52.56 after the company reported better-than-expected quarterly financial results.
• Olema Pharmaceuticals, Inc (NASDAQ:OLMA) gained 13.3% to $14.78. Olema Pharmaceuticals filed prospectus related to resale of up to 13.2 million shares of common stock held by selling stockholders.
• Plug Power Inc. (NASDAQ:PLUG) rose 12.2% to $4.9900. Plug Power said it completed first customer fill of liquid green hydrogen at its Georgia plant.
• Credit Acceptance Corporation (NASDAQ:CACC) gained 11.9% to $605.43 following upbeat earnings.
• Digi International Inc. (NASDAQ:DGII) rose 11.7% to $27.17 following strong results.
• EZCORP, Inc. (NASDAQ:EZPW) rose 11.6% to $9.61 after the company reported better-than-expected quarterly financial results.
• Allegro MicroSystems, Inc. (NASDAQ:ALGM) surged 10.9% to $28.77 following upbeat earnings.
• Ferrari N.V. (NYSE:RACE) rose 10.4% to $382.17 after the company reported fourth-quarter financial results and issued 2024 guidance.
• Lancaster Colony Corporation (NASDAQ:LANC) surged 10% to $202.15 following strong earnings.
• Absci Corporation (NASDAQ:ABSI) gained 9.8% to $4.35.
• Etsy, Inc. (NASDAQ:ETSY) climbed 9.6% to $72.95 after the company announced the appointment of Elliott Investment Management’s Marc Steinberg to its board.
• Boot Barn Holdings, Inc. (NYSE:BOOT) rose 8.4% to $77.79 following upbeat earnings.
• KB Financial Group Inc. (NYSE:KB) gained 8.3% to $45.77.
• Arvinas, Inc. (NASDAQ:ARVN) rose 8.3% to $44.94. Goldman Sachs analyst Paul Choi initiated coverage on Arvinas with a Buy rating and announced a price target of $70.
• Sally Beauty Holdings, Inc. (NYSE:SBH) climbed 7.4% to $13.24 following upbeat earnings.
• Norfolk Southern Corporation (NYSE:NSC) gained 7.4% to $251.33. The Wall Street Journal reported that Ancora-led investor group has a $1 billion stake in Norfolk Southern, citing sources.
• EverQuote, Inc. (NASDAQ:EVER) climbed 7.2% to $13.53.
• Tenet Healthcare Corporation (NYSE:THC) rose 6.2% to $87.76.
• Deutsche Bank Aktiengesellschaft (NYSE:DB) shares rose 6.2% to $13.65 after the company posted fourth-quarter results and announced plans to cut 3,500 jobs. Deutsche Bank plans to increase both share repurchases and dividends by at least 50% year-over-year in 2024.
• Ball Corporation (NYSE:BALL) jumped 6% to $58.78 following strong earnings.
• Li Auto Inc. (NASDAQ:LI) climbed 5.8% to $29.30. Li Auto delivered 31,165 vehicles in January 2024, up 105.8% year over year.

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