Here are some of the biggest movers of the day ahead of Friday’s market open:
Stock gainers:
CarMax Inc. stock KMX, +10.07% is rallying 9.1% toward a nine-month high after the used car seller reported adjusted first-quarter profit of $1.16 a share, well above the FactSet consensus of 79 cents. Total sales dropped 17.4% to $7.69 billion, but beat the FactSet consensus $7.50 billion, as used vehicle sales fell 14.4% to $6.00 billion while wholesale vehicle sales declined 28.5% to $1.51 billion.
Conformis Inc. CFMS, +87.07% stock shot up by 90.6% in active trading Friday, after the orthopedic patient care company announced an agreement to be acquired by Restor3d for a 96% premium. Restor3d will pay $2.27 in cash for each Conformis share. The price is 95.7% above Conformis’s Thursday closing price of $1.16. ”
Trupanion Inc. TRUP, +9.92% stock jumped 10.3% after the pet-insurance provider announced that California and New York approved double-digit rate increases, saying that the hikes were “necessary in today’s rising cost of veterinary care environment.”
Shares of Smith & Wesson Brands Inc. SWBI, +20.20% jumped 18.3% after the gun maker reported fiscal fourth-quarter results that topped expectations and said its board approved a 20% dividend hike
GSK GSK, +4.90% stock rose 4.4% after the pharmaceutical group said said Friday it has reached a confidential settlement over a lawsuit involving heartburn treatment Zantac and accusations that it causes cancer. The case, which was filed in a California state court, will be dismissed, the company said. Shares of Haleon PLC HLN, +0.24% and Sanofi SNY, , also affected by litigation fears, rose modestly.
3M Co. shares MMM, +0.29% rose 1.6% after the materials and chemicals company, and Dow Jones Industrial Average DJIA, -0.65% component, offered $10.3 billion to settle claims it was responsible for so-called “forever chemicals” in drinking water.
Stock decliners:
Shares of Virgin Galactic Holdings Inc. SPCE, -18.42% dropped 17.9% after the space-tourism company said late Thursday in a filing it’s seeking to raise $400 million to scale up its business and improve its fleet.
Canopy Growth Corp. CGC, -13.95% shares were down 11.8% after the Canadian pot producer reported another quarter of deeper-than-expected losses and weaker sales. Fellow Canadian cannabis company Tilray Brands Inc. TLRY, -5.59% dropped 5%.
