No. 5: Hormel Foods Corp. (HRL)
A theme that runs through this list is post-earnings pops, which Hormel — the food processing giant known for producing packaged meats like Spam — certainly saw during Thursday’s session. Shares of HRL gained 4.8% from $40.97 to $42.95, the best close since April 2 when they ended the day at $43.08. Despite that strong performance, Hormel has endured exceptional volatility in 2019 and is now up only 0.6% on the year since closing at $42.68 per share on Dec. 31.
The company reported a year-over-year earnings decline, but investors only seemed to respond to the fact that the numbers surpassed analyst expectations. Hormel’s earnings per share (EPS) fell 5% to $0.37, which edged by Wall Street’s expected $0.35 by 5.7%. That marks the fourth consecutive quarter of beating earnings estimates. As for outlook, the firm maintained earnings guidance in the range of $1.71 to $1.85 per share.
No. 4: Synopsys Inc. (SNPS)
Shares of software and technology stalwart Synopsys climbed 5.4% during Thursday’s trading session, going from $131.84 to an all-time high of $139. The stock has had an incredible year along with the broader tech sector, as shares of SNPS have surged 65% since the Dec. 31 settlement of $84.24.
Investors jolted the stock higher after the firm not only exceeded earnings expectations but also raised its full-year 2019 earnings guidance. Revenue for the April-June period climbed 9.4% year-over-year to $853 million and EPS came in at $1.18, topping analysts’ $1.10 estimate by 7.3% and growing 24% from the same quarter in 2018. Synopsys also upped its guidance for fiscal 2019, with revenue now expected to rest somewhere in the $3.34-$3.37 billion range compared to the $3.29-$3.35 billion that was predicted earlier.
No. 3: Alexion Pharmaceuticals Inc. (ALXN)
Alexion — which produces the drug Soliris used to treat rare diseases like atypical hemolytic uremic syndrome (aHUS) — saw its stock rise from $114.84 to $123.49 for a daily gain of 7.5%. ALXN has been another strong 2019 performer, boasting a nearly 27% rally since closing at $97.36 on Dec. 31.
Rumors of an acquisition by blockbuster biotech firm Amgen Inc. (AMGN) have been circulating since 2018, but ALXN shares popped after Spanish business news website Intereconomia renewed the speculation by reporting that Amgen is currently considering a $45 billion bid. It seems investors wanted to get ahead of the formal announcement, pushing Alexion’s share price toward its highest levels of the year.
No. 2: Keysight Technologies Inc. (KEYS)
The second biggest performer on Thursday was Keysight Technologies, a producer of analytics technology that was spun off from Agilent Technologies Inc. (A) back in 2014. Shares of Keysight surged 12.6% on the day from $89.14 to $100.35. Factoring in that gain, KEYS is now up 61.6% from the Dec. 31 settlement of $62.08.
Keysight’s most recent earnings beat estimates on both the top and bottom lines. Revenue in the fiscal third quarter jumped 8% to $1.09 billion, compared to the $1.05 billion in sales that analysts were expecting. That translated into adjusted EPS of $1.25, topping the $1.02 that Wall Street had anticipated.
No. 1: Nordstrom Inc. (JWN)
The S&P 500’s biggest gainer on Thursday was Nordstrom, which rocketed 15.9% from $26.54 to $30.75. The rally came on the heels of the firm’s earnings release after the bell Wednesday, which included an EPS of $0.90 for the April-June period. That surpassed Wall Street’s estimate of $0.75 by 20%. Revenue was slightly weaker, as the $3.87 billion during the period fell just 1.5% short of the expected $3.93 billion.
