The S&P 500 experienced some significant movements on Thursday, with both advancers and decliners making headlines. Let’s take a closer look at the key players in the market on that day.
Biggest S&P 500 Movers on Thursday
On Thursday, some notable companies made significant moves that caught the attention of investors. Here are some of the key highlights from the S&P 500:
Decliners
- Epam Systems (EPAM): The software engineering firm saw its shares drop by 12.8% after its earnings report included weak guidance, raising concerns about its growth potential.
- Axon Enterprises (AXON): The law enforcement equipment firm fell by 8.7% following an analyst ratings downgrade.
- Royal Caribbean Cruises (RCL): Shares of the cruise line company fell by 7.6%, along with other cruise lines like Carnival (CCL) and Norwegian Cruise Lines (NCLH).
Advancers
- Hasbro (HAS): The toy maker’s shares surged by 13.0% after reporting better-than-expected quarterly results and unveiling a new strategy to focus more on reaching fans online.
- Baxter International (BAX): The medical device maker saw its shares rise by 8.5% after reporting better-than-expected earnings, despite disruptions from Hurricane Helene.
Analyst Rating Changes
Noteworthy analyst rating changes also impacted the market on Thursday. Here’s a summary of the key updates:
- Roku (ROKU): Jefferies analysts upgraded the stock to "Hold" from "Underperform" and raised their price target, citing improved growth potential.
- SolarEdge Technologies (SEDG): While Morgan Stanley upgraded the stock, Northland Capital and BMO Capital Markets downgraded it, reflecting differing opinions on the company’s future prospects.
In conclusion, Thursday was a day of significant movements in the S&P 500, with both decliners and advancers making waves in the market. It’s essential for investors to stay informed about these developments to make well-informed decisions in the ever-changing landscape of the stock market.