Skechers Reports Upbeat Earnings, Joins Tutor Perini, AppFolio, Newell Brands And Other Big Stocks Moving Higher On Friday

U.S. stocks were higher, with the Dow Jones jumping over 150 points on Friday.

Shares of Skechers U.S.A., Inc. (NYSE:SKX) rose sharply during Friday's session after the company reported better-than-expected first-quarter FY24 earnings.

Skechers reported first-quarter FY24 sales growth of 12.5% year-on-year to $2.251 billion, beating the analyst consensus estimate of $2.204 billion. EPS of $1.33 beat the analyst consensus of $1.10, according to data from Benzinga Pro.

Skechers raised FY24 sales outlook from $8.60 billion-$8.80 billion to $8.725 billion-$8.875 billion, against an estimate of $8.781 billion. The company also raised FY24 EPS outlook from $3.65-$3.85 to $3.95-4.10 versus an estimate of $3.90.

Skechers U.S.A. shares climbed 16% to $68.20 on Friday.

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

• Universal Logistics Holdings, Inc. (NASDAQ:ULH) shares jumped 45.2% to $47.76 after the company reported better-than-expected first-quarter financial results.
• Exponent, Inc. (NASDAQ:EXPO) shares gained 28.5% to $102.41 after the company reported better-than-expected first-quarter financial results.
• Snap Inc. (NYSE:SNAP) rose 23% to $14.02 after the company reported better-than-expected first-quarter financial results and issued second-quarter revenue guidance above estimates. Also, the company reported a year-over-year increase in quarterly daily active users.
• Tutor Perini Corporation (NYSE:TPC) climbed 22.2% to $16.98 after the company reported better-than-expected first-quarter financial results and issued FY24 EPS guidance.
• U.S. Silica Holdings, Inc. (NYSE:SLCA) rose 20% to $15.67 after the company reported first-quarter financial results and entered into a definitive agreement to be acquired by funds managed by affiliates of Apollo.
• Cullinan Therapeutics, Inc. (NASDAQ:CGEM) shares jumped 19.5% to $23.03.
• ATRenew Inc. (NASDAQ:RERE) gained 18.9% to $1.9150. ATRenew announced appointment of new director.
• ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) rose 17.5% to $13.39.
• AppFolio, Inc. (NASDAQ:APPF) gained 16% to $251.22 after the company reported better-than-expected first-quarter financial results and raised its FY24 revenue guidance above estimates.
• Newell Brands Inc. (NASDAQ:NWL) rose 15% to $7.97 after the company reported better than expected first-quarter earnings and issued guidance.
• ResMed Inc. (NYSE:RMD) shares gained 13.7% to $208.63 after the company reported better-than-expected third-quarter financial results.
• Rogers Corporation (NYSE:ROG) rose 12.7% to $123.46 after the company beat first-quarter EPS and sales estimates.
• Canopy Growth Corporation (NASDAQ:CGC) gained 12.5% to $9.78.
• Sonic Automotive, Inc. (NYSE:SAH) surged 12.2% to $63.60. B of A Securities analyst John Murphy upgraded Sonic Automotive from Underperform to Buy and raised the price target from $55 to $68.
• Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) gained 10.6% to $172.52 the company posted upbeat results for its first quarter. Alphabet's board authorized an additional share repurchase program of up to $70 billion and also announced its first-ever quarterly dividend.
• KB Financial Group Inc. (NYSE:KB) gained 10% to $55.17 following quarterly results.
• Ouster, Inc. (NYSE:OUST) climbed 9.9% to $8.22.
• Redfin Corporation (NASDAQ:RDFN) gained 9.8% to $5.69.
• XPeng Inc. (NYSE:XPEV) rose 9.2% to $7.73.
• Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) rose 8.8% to $18.80 after Raymond James upgraded the stock from Outperform to Strong Buy and raised its price target from $20 to $27.
• AutoNation, Inc. (NYSE:AN) gained 8.6% to $174.20 following second-quarter results.
• Minerals Technologies Inc. (NYSE:MTX) gained 7.9% to $76.73 following upbeat earnings.
• SkyWest, Inc. (NASDAQ:SKYW) surged 7.4% to $78.55 after the company reported better-than-expected quarterly financial results.
• Geron Corporation (NASDAQ:GERN) rose 6.6% to $3.7950. Geron is expected to release its first quarter 2024 financial results on Thursday, May 2.
• Super Micro Computer, Inc. (NASDAQ:SMCI) surged 6.6% to $839.70.
• Carlisle Companies Incorporated (NYSE:CSL) rose 5.5% to $403.08 after the company reported better-than-expected quarterly financial results.
• Pacific Biosciences of California, Inc. (NASDAQ:PACB) gained 5.1% to $1.45.

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