Western Alliance Posts Upbeat Earnings, Joins Abacus Life, SLB And Other Big Stocks Moving Higher On Friday
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U.S. stocks were lower, with the Dow Jones index falling around 250 points on Friday.
Shares of Western Alliance Bancorporation (NYSE:WAL) rose sharply during Friday's session following upbeat quarterly results.
Western Alliance reported quarterly earnings of $1.75 per share which beat the analyst consensus estimate of $1.71 per share. The company reported quarterly sales of $771.80 million which beat the analyst consensus estimate of $737.64 million, according to data from Benzinga Pro.
Western Alliance Bancorporation shares gained 7.2% to $76.16 on Friday.
Here are some other big stocks recording gains in today’s session.
- Hawaiian Electric Industries, Inc. (NYSE:HE) shares gained 36.1% to $17.35 following a report suggesting the company reached a settlement plan over the Maui wildfires.
- Abacus Life Inc (NASDAQ:ABL) gained 19.3% to $10.00 after the company reported preliminary second-quarter revenue results above estimates. The company announced a definitive agreement to acquire Carlisle Management Company.
- MoneyLion Inc. (NYSE:ML) rose 11.6% to $71.21. MoneyLion will release its financial results for the second quarter of 2024 on Tuesday, Aug. 6, 2024.
- TROOPS Inc (NASDAQ:TROO) gained 11.4% to $3.93.
- HIVE Digital Technologies Ltd. (NASDAQ:HIVE) climbed 9.8% to $4.02. B. Riley Securities analyst Lucas Piper initiated coverage on HIVE Digital Technologies with a Buy rating and announced a price target of $6.
- Fitell Corporation (NASDAQ:FTEL) gained 9.4% to $21.54.
- Intuitive Surgical, Inc. (NASDAQ:ISRG) gained 8.3% to $450.52 after the company reported better-than-expected second-quarter financial results.
- Torrid Holdings Inc. (NASDAQ:CURV) climbed 7.7% to $8.00.
- MicroStrategy Incorporated (NASDAQ:MSTR) rose 7.6% to $1,674.00
- Zhihu Inc. (NYSE:ZH) gained 7.2% to $3.28.
- Kuke Music Holding Limited (NASDAQ:KUKE) rose 6.7% to $1.28.
- Coinbase Global, Inc. (NASDAQ:COIN) rose 6.5% to $248.42. Needham analyst John Todaro reiterated Coinbase with a Buy and maintained a $260 price target.
- Dave Inc. (NASDAQ:DAVE) gained 5.6% to $39.51.
- Inter & Co, Inc. (NASDAQ:INTR) rose 5.6% to $6.89.
- Schlumberger Limited (NYSE:SLB) gained 3.5% to $50.42 following upbeat quarterly results.
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