The Ups and Downs of Stocks
Get a quick snapshot of the stock market's top gainers and decliners in this concise update. Stay informed about the companies experiencing significant shifts in stock prices and understand the factors driving their performance. Stay ahead of the market with our brief yet informative state.
Gainers
CarMax Inc. stock surges in premarket trading, reaching a 9-month high. Q1 profit beats expectations at $1.16/share, while sales drop 17.4% to $7.69B, driven by lower used and wholesale vehicle sales.
Conformis Inc. stock soars 90.5% in premarket trading after Restor3d's acquisition offer at a 96% premium. Restor3d will acquire Conformis for $2.27 per share, a remarkable 95.7% surge from Thursday's closing price of $1.16.
Trupanion Inc. stock experienced a significant 16% jump in premarket trading as the pet-insurance provider revealed that both California and New York have approved double-digit rate increases. The company justifies these hikes by stating that they are necessary in today's rising cost of veterinary care environment.
Shares of Smith Wesson Brands Inc. surged by 8% after the gun maker announced fiscal fourth-quarter results that exceeded expectations. Additionally, the company's board has approved a 20% dividend hike.
GSK shares rose by over 5% in premarket trading following the pharmaceutical group's announcement of a confidential settlement in a lawsuit concerning its heartburn treatment, Zantac, and its alleged link to cancer. The case, filed in a California state court, will be dismissed, according to the company. Shares of Haleon PLC and Sanofi, also affected by litigation fears, saw modest increases.
Shares of 3M Co. increased by 3% after the materials and chemicals company, and Dow Jones Industrial Average component, offered a $10.3 billion settlement to address claims related to so-called "forever chemicals" in drinking water.
Decliners
Virgin Galactic Holdings Inc. experienced a 15% drop in premarket trading as the space-tourism company revealed its plans to raise $400 million to expand its business and enhance its fleet.
Canopy Growth Corp. shares declined by 2% as the Canadian pot producer reported another quarter of losses deeper than expected, along with weaker sales.
