Stock traded higher Thursday after the Federal Reserve held interest rates steady but signaled the potential for more rate increases later this year.
These stocks were making moves Thursday:
Kroger (ticker: KR) shed 2.7% after the grocer beat profit expectations for its latest quarter but maintained guidance for fiscal-year earnings.
American depositary receipts of XPeng (XPEV) were up 7.4% after the Chinese electric-vehicle maker said it has received approval to launch its assisted-driving technology on major ring roads and expressways in Beijing.
Skywest (SKYW) rose 4.5% after the airline was upgraded to Buy from Hold by analysts at Deutsche Bank. Allegiant (ALGT) gained 2% after the travel services company also was upgraded to Buy from Hold at Deutsche Bank.
Jabil (JBL) gained 5% after the contract electronics manufacturer posted better-than-expected earnings for its third quarter.
Cava Group (CAVA) rose 97% to just over $43 after the Mediterranean fast-casual restaurant stock made its trading debut on the New York Stock Exchange on Thursday. Its initial public offering price was $22.
Mersana Therapeutics (MRSN) tumbled 59% after the biopharmaceutical company said the Food and Drug Administration has issued a partial clinical hold pausing new patient enrollment in its clinical trails for an ovarian cancer treatment following a safety report of bleeding events.
SoFi Technologies (SOFI) shed 2% after the financial services company was downgraded to Perform from Outperform by analysts at Oppenheimer.
Lennar (LEN) reported better-than-expected fiscal second-quarter earnings and revenue. Orders and deliveries also exceed analysts’ expectations in the period. The home builder said it sees fiscal third-quarter deliveries in a range from 17,750 to 18,250 homes, higher than forecasts. The stock was rising 4.4%.
Domino’s Pizza (DPZ) gained 6.5% after being upgraded to Buy from Hold at Stifel and its price target raised to $350 from $320. It was the top performer in the S&P 500 on Thursday.
American depositary receipts of retailer Alibaba (BABA) rose 3.2% after the People’s Bank of China delivered rate cuts on short and medium-term loans and injected additional money into the banking system.
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