Market Surge: REX American Resources and Other Big Stocks Soar

U.S. markets saw a modest rise, with the S&P 500 edging up about 0.1% on Thursday.

Shares of REX American Resources Corporation REX experienced a significant surge during Thursday’s trading session on the heels of strong quarterly earnings.

REX American Resources reported GAAP earnings of $1.16 per share for the quarter, surpassing market expectations of 68 cents per share, as outlined by Benzinga Pro.

The stock of REX American Resources soared 23.2% to $54.15 on Thursday.

Exploring other notable movers in today’s trading:

• Avalo Therapeutics, Inc. AVTX shares surged 430% to $25.35 following the company’s acquisition of a Phase 2-ready anti-IL-1β mAb, referred to as AVTX-009. This move came through the acquisition of privately held AlmataBio, coupled with a private placement financing of up to $185 million.
• Hut 8 Corp. HUT witnessed a robust 20.4% increase to $11.87. The company reported revenues of C$60.6 million for the six months ending Dec. 31, 2023.
• RH RH climbed 16.2% to $344.99 post the release of its quarterly results. While RH’s fourth-quarter results were below expectations, it provided a bullish forecast.
• Sutro Biopharma, Inc. STRO rose 14.4% to $5.64. Analyst Jay Olson from Oppenheimer maintained an Outperform rating on Sutro Biopharma with a $10 price target.
• Nikola Corporation NKLA saw a 12.7% uptick to $1.0250.
• OPKO Health, Inc. OPK rose 12.1% to $1.1996. Labcorp announced the acquisition of select assets of BioReference Health’s Diagnostics Business.
• Altimmune, Inc. ALT gained 11.4% to $9.90. Altimmune recently disclosed lean mass preservation data for pemvidutide despite lackluster fourth-quarter FY23 earnings.
• Marathon Digital Holdings, Inc. MARA surged 10.4% to $24.37.
• Guardant Health, Inc. GH gained 8.4% to $19.48.
• Opendoor Technologies Inc. OPEN jumped 8% to $3.1850.
• Arhaus, Inc. ARHS climbed 7.7% to $15.94.
• Riot Platforms, Inc. RIOT rose 6.8% to $13.07.
• BRP Inc. DOOO increased by 6.4% to $67.74 post the company’s fourth-quarter results.
• Encompass Health Corporation EHC rose 5.8% to $82.06. Analyst Andrew Mok from Barclays maintained an Overweight rating on Encompass Health with a price target raised from $95 to $101.
• The Estée Lauder Companies Inc. EL surged 5.4% to $152.85 after B of A Securities upgraded the stock from Neutral to Buy and increased the price target from $160 to $170.
• Exact Sciences Corporation EXAS grew by 4.7% to $70.01.

 

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