MW C3.ai, Salesforce, Dollar General stocks drop, Hormel and Chewy shares rally and other stocks on the move
By MarketWatch
Lucid's stock tumbles after $3 billion stock offering, Advance Auto shares extend selloff
Here are some of the bigger movers Thursday:
Stock gainers:
Hormel Foods Corp.'s stock $(HRL)$ rallied 5% after the parent of Planters, Skippy, Spam and Natural Choice food brands fiscal second-quarter profit that beat expectations as its Planters business showed improvement.
Shares of Nordstrom Inc.$(JWN)$ rose nearly 7% Thursday after the upscale department-store chain reported better-than-expected first-quarter results and held to its full-year outlook, despite what executives said was as an "uncertain" economic backdrop.
Shares of specialty retailer Chewy Inc. rallied 23% after the company reported quarterly profit and sales above Wall Street expectations and announced an expansion to Canada
Constellation Energy Corp. shares $(CEG.UK)$ climbed more than 5% toward a 5 1/2-month high after the maker of clean energy and renewable energy products announced an agreement to pay $1.75 billion NRG Energy Inc. $(NRG)$ to acquire a 44% stake in a nuclear power station near Houston.
Veeva Systems Inc.'s stock (VEEV) soared 20% after the cloud-software company reported fiscal first-quarter earnings and revenue above Wall Street forecasts, saying that its fiscal year was off to a good start.
Pure Storage Inc.(PSTG) shares powered up 22% after the data-storage software provider reported first-quarter results that beat expectations and gave an upbeat financial outlook.
Shares of NetApp Inc.$(NTAP)$ charged up more than 9% Thursday after the cloud-data software company beat on earnings and its long-term outlook.
Stock decliners:
C3.ai Inc.'s stock (AI) went into a tailspin, slumping more than 12% Thursday following its fiscal fourth-quarter results. Shares plummeted after the AI company forecast 2024 revenue estimates on the light side.
Dollar General Corp. shares $(DG)$ plummeted a record 18.6% after the discount retailer missed fiscal first-quarter profit, net sales and same-store sales expectations and cut this full-year outlook.
Advance Auto Parts Inc.'s stock $(AAP.AU)$ sank 5% toward an 11-year low, adding to the previous session's record 35.0% plunge, after BofA Securities backed away from its long-time bullish stance, saying the auto parts seller's turnaround plan appeared to be faltering.
Shares of Lucid Group Inc. (LCID) took a 16% dive after the maker of luxury electric vehicles announced plans for an underwritten public offering of stock and a separate private placement to raise about $3.0 billion in gross proceeds.
CrowdStrike Holdings Inc. shares $(CRWD)$ fell 1.3%, but pared earlier losses of as much as 11%, after the cybersecurity company forecast a less-than-perfect earnings outlook.
Okta Inc.'s stock (OKTA) tumbled 17% as the identity-management software company said it sees tough times ahead even as it raised its earnings forecast.
Shares of intimate-wear maker Victoria's Secret & Co.$(VSCO)$ sank nearly 9% after company executives cut their full-year sales outlook, saying weaker demand would likely endure for the rest of the year.
-MarketWatch
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June 01, 2023 15:35 ET (19:35 GMT)
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