Here are some of the bigger stock movers on Thursday.
Stock gainers:
Tesla Inc.’s stock TSLA, +3.06% jumped nearly 4% in midday trading, to put it on track for a 10th-straight gain, which would be the longest win streak in more than two years. Data out of China showed that the electric vehicle giant delivered 2.4% more cars built at the company’s Shanghai plant that it did in April.
Shares of Carvana Co. CVNA, +42.17% rocketed 35% toward an 8-month high after the car seller provided an outlook for and adjusted earnings metric that was well above expectations.
DSW store brand parent Designer Brands Inc. shares DBI, +19.83% ran up 19% after the footwear retailer reported fiscal first-quarter results that missed expectations and cut its full-year outlook, but said U.S. retail store traffic jumped 22% to “significantly” outpace its peer group. The stock has run up 36.5% since it closed at a 2 1/2-year low on May 31.
International Game Technology PLC‘s stock IGT, +13.91% jumped 13% toward a 19-month high after the games company said it was evaluating “potential strategic alternatives” for its Global Gaming and PlayDigital businesses.
Cardinal Health Inc. shares CAH, +2.46% rose 2% after the health care services company set a new $3.5 billion stock repurchase program and nudged up its 2023 profit outlook.
Semtech Corp. shares SMTC, +6.80% rallied 4% after the analog and mixed-signal chipmaker swung to a surprise profit.
Stock decliners:
GameStop Corp.‘s stock GME, -17.21% tanked 18% after the retailer fired Chief Executive Mike Furlong and said that its board elected activist investor Ryan Cohen as its executive chairman.
FuelCell Energy Inc.’s stock FCEL, -1.89% shed 2.5% after the fuel cell technology and hydrogen production company reported a wider-than-expected fiscal second-quarter loss, even as revenue more than doubled and beat forecasts.
Signet Jewelers Ltd. shares SIG, -9.24% slumped more than 9% after the diamond jewelry retailer provided a sales and profit outlook that was below Wall Street projections, citing a continued consumer shift away from discretionary spending amid macroeconomic challenges.
Shares of Smartsheet Inc. SMAR, -18.61% fell 19% after the cloud-based work-management platform provider’s billings missed Wall Street estimates and its free-cash-flow outlook appeared light.
Shares of Oxford Industries Inc. OXM, -9.34% dropped 10% after the parent company of Tommy Bahama and other brands lowered its guidance for the year, saying that consumers have grown more cautious.
