Time: 2024-06-19
U.S. stocks experienced a slight increase on Tuesday, with the Dow Jones index rising by approximately 0.1%. Patterson Companies, Inc.'s shares surged during the session following the announcement of their quarterly results. The company reported adjusted earnings of 82 cents per share on sales of $1.723 billion, leading to a 9.7% increase in their stock price to $25.06.
Several other prominent stocks also recorded gains on Tuesday. Silk Road Medical, Inc. saw a significant climb of 23.8% after Boston Scientific agreed to acquire the company for $27.50 per share. Similarly, La-Z-Boy Incorporated surged by 17.7% to $40.11, while Karooooo Ltd. rose by 14.6% to $33.59. Chegg, Inc., Companhia Siderrgica Nacional, Intra-Cellular Therapies, Inc., and Chewy, Inc. all experienced notable increases in their stock prices as well.
Micron Technology, Inc. witnessed a 5.7% rise to $156.30 after Wedbush raised its price target on the stock. Hewlett Packard Enterprise Company also saw a 5.5% increase after announcing a collaboration with Danfoss. Other companies such as Toast, Inc., Ballard Power Systems Inc., Cedar Fair, L.P., Dell Technologies Inc., and e.l.f. Beauty, Inc., among others, recorded positive movements in their stock prices.
Looking ahead, Patterson Companies, Inc. is expected to report quarterly earnings of $0.83 per share on revenue of $1.71 billion. Similarly, KB Home is anticipated to post earnings of $1.80 per share on revenue of $1.65 billion. Analysts are also keeping an eye on JELD-WEN Holding, Inc. as Samantha L. Stoddard assumes the role of Chief Financial Officer. Additionally, SIGA Technologies, Inc. disclosed an agreement to expand TPOXX's access to the member seats of the Association of Southeast Asian Nations, leading to a 2.1% increase in their stock price.
In conclusion, the stock market continues to show resilience and potential for growth, with various companies making strategic moves and investors closely monitoring earnings reports and acquisitions in the coming days.
Business
