Here are some of the bigger stock movers on Thursday.
Stock gainers:
Tesla Inc.’s stock
TSLA,
+4.06%
jumped nearly 4% in midday trading, to put it on track for a 10th-straight gain, which would be the longest win streak in more than two years. Data out of China showed that the electric vehicle giant delivered 2.4% more cars built at the company’s Shanghai plant that it did in April.
Shares of Carvana Co.
CVNA,
-21.30%
rocketed 35% toward an 8-month high after the car seller provided an outlook for and adjusted earnings metric that was well above expectations.
DSW store brand parent Designer Brands Inc. shares
DBI,
-0.58%
ran up 19% after the footwear retailer reported fiscal first-quarter results that missed expectations and cut its full-year outlook, but said U.S. retail store traffic jumped 22% to “significantly” outpace its peer group. The stock has run up 36.5% since it closed at a 2 1/2-year low on May 31.
International Game Technology PLC‘s stock
IGT,
-2.57%
jumped 13% toward a 19-month high after the games company said it was evaluating “potential strategic alternatives” for its Global Gaming and PlayDigital businesses.
Cardinal Health Inc. shares
CAH,
+1.69%
rose 2% after the health care services company set a new $3.5 billion stock repurchase program and nudged up its 2023 profit outlook.
Semtech Corp. shares
SMTC,
-9.01%
rallied 4% after the analog and mixed-signal chipmaker swung to a surprise profit.
Stock decliners:
GameStop Corp.‘s stock
GME,
+5.78%
tanked 18% after the retailer fired Chief Executive Mike Furlong and said that its board elected activist investor Ryan Cohen as its executive chairman.
FuelCell Energy Inc.’s stock
FCEL,
+0.87%
shed 2.5% after the fuel cell technology and hydrogen production company reported a wider-than-expected fiscal second-quarter loss, even as revenue more than doubled and beat forecasts.
Signet Jewelers Ltd. shares
SIG,
-3.57%
slumped more than 9% after the diamond jewelry retailer provided a sales and profit outlook that was below Wall Street projections, citing a continued consumer shift away from discretionary spending amid macroeconomic challenges.
Shares of Smartsheet Inc.
SMAR,
-3.98%
fell 19% after the cloud-based work-management platform provider’s billings missed Wall Street estimates and its free-cash-flow outlook appeared light.
Shares of Oxford Industries Inc.
OXM,
-1.95%
dropped 10% after the parent company of Tommy Bahama and other brands lowered its guidance for the year, saying that consumers have grown more cautious.
