Fastenal Posts Upbeat Earnings, Joins Wells Fargo, JPMorgan And Other Big Stocks Moving Higher On Friday
U.S. stocks were higher, with the Dow Jones index gaining around 250 points on Friday.
Shares of Fastenal Company FAST rose sharply during Friday’s session after the company reported better-than-expected third-quarter financial results.
Fastenal reported sales growth of 3.5% year-over-year to $1.910 billion, beating the consensus of $1.908 billion. Unit sales increased in the quarter due to growth from larger customers, new Onsite locations, and an extra selling day, despite minor disruptions from Hurricane Helene and stable pricing. The company’s third-quarter EPS was 52 cents, above the estimate of 51 cents.
Fastenal shares jumped 6% to $74.18 on Friday.
Here are some other big stocks recording gains in today’s session.
- Torrid Holdings Inc. CURV shares jumped 13% to $3.78.
- Pacific Biosciences of California, Inc. PACB surged 12% to $1.7350 after the company announced it signed a research collaboration agreement with the National Cancer Center of Singapore. The project will use the company’s sequencing technologies.
- Symbotic Inc. SYM gained 11.5% to $30.66.
- Digital Turbine, Inc. APPS rose 10.6% to $3.2750.
- Mesoblast Limited MESO gained 10.6% to $10.32.
- Capricor Therapeutics, Inc. CAPR shares jumped 10.4% to $18.92 after the company announced it reported long-term data from its HOPE-2 OLE study for Duchenne muscular dystrophy at the 2024 World Muscle Society Congress. Additionally, HC Wainwright & Co. raised its price target on the stock from $40 to $77.
- Nuvation Bio Inc. NUVB gained 9.5% to $2.2000.
- Wolfspeed, Inc. WOLF rose 9.1% to $10.36.
- Lyft, Inc. LYFT gained 8.7% to $13.49 in reaction to Tesla announcing that a rival offering, the Cybercab, will go into production in 2026.
- Aehr Test Systems, Inc. AEHR rose 8.6% to $14.47 after the company reported better-than-expected first-quarter financial results.
- Uber Technologies, Inc. UBER gained 8.2% to $84.34 in reaction to Tesla announcing that a rival offering, the Cybercab, will go into production in 2026.
- Trump Media & Technology Group Corp. DJT gained 8% to $26.04 on continued upward momentum.
- MicroStrategy Incorporated MSTR gained 7.8% to $197.69.
- Wells Fargo & Company WFC rose 5.6% to $60.98 following upbeat quarterly earnings.
- JPMorgan Chase & Co. JPM gained 4.6% to $222.57 after reporting strong quarterly results.
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