Market News

World Acceptance Corporation’s Strong Earnings Propel Stock and Market

U.S. markets saw an uptick on Friday, as the Dow Jones index posted a gain of roughly 50 points.

World Acceptance Corporation, trading under the symbol WRLD on the NASDAQ, surged following an exceptional quarterly performance.

The company reported quarterly earnings of $2.84 per share, surpassing market expectations of $1.88 per share. Moreover, the company recorded quarterly sales of $137.75 million, exceeding estimates of $130.58 million.

As a result, World Acceptance shares leaped 10.2% to $134.00, illustrating investor confidence in the company’s financial prowess.

Several other significant stocks also experienced notable gains during the trading session on Friday.

  • Kaman Corporation: The share price surged by 101.3% to $45.14 after the announcement of an acquisition by Arcline for $1.8 billion.
  • Edgewise Therapeutics, Inc.: Shares jumped 37.3% to $13.30 following the announcement of pricing for its $240 million underwritten offering of 21,818,182 shares at $11 per share.
  • Tricon Residential Inc.: Share prices rose by 28.2% to $11.06 after Blackstone and Tricon Residential entered into an agreement for Blackstone Real Estate Partners X to acquire all outstanding common shares for $11.25 per share in cash.
  • Spirit Airlines, Inc.: The stock climbed 24% to $7.06 after the company released preliminary fourth-quarter and full year 2023 estimates and first-quarter 2024 guidance, affirming the continuity of the merger agreement with JetBlue.
  • Super Micro Computer, Inc.: The stock gained 23.1% to $383.31 after the company announced updated financial guidance for the second quarter, surpassing its previous outlook.
  • Silk Road Medical, Inc: Shares rose 13.1% to $14.91 after a stock upgrade from Hold to Buy by Stifel, coupled with a rise in its price target from $9 to $20.
  • Wayfair Inc.: The stock surged 11.6% to $56.81 following the announcement of a workforce realignment plan involving a reduction of approximately 13% of its global workforce.
  • NewAmsterdam Pharma Company N.V.: The stock gained 10.5% to $19.44.
  • Ally Financial Inc.: The stock surged 9.4% to $35.15, driven by Synchrony Financial’s plans to acquire Ally Financial’s point of sale financing business and upbeat quarterly sales reported by Ally Financial.
  • MacroGenics, Inc.: The stock rose 7.7% to $11.59.
  • Fiverr International Ltd.: The stock rose 6.9% to $26.41, as Goldman Sachs analyst Eric Sheridan upgraded Fiverr Intl from Neutral to Buy.
  • Plug Power Inc.: The stock gained 6.4% to $2.5750.
  • WNS (Holdings) Limited: The stock gained 4.4% to $65.71, with Needham analyst Mayank Tandon maintaining a Buy rating and raising the price target from $80 to $85.
  • State Street Corporation: The stock rose 4.3% to $77.51 after reporting better-than-expected fourth-quarter financial results and announcing a new authorization to repurchase up to $5 billion of common shares.
  • Texas Instruments Incorporated: The stock gained 3.8% to $173.18, after UBS analyst Timothy Arcuri upgraded Texas Instruments from Neutral to Buy and raised the price target from $170 to $195.
See also  Technical Analysis: Spear Alpha ETF Consolidation Signals Next Break Ahead As Nvidia Trades Near All-Time Highs - Spear Alpha ETF (NASDAQ:SPRX)


Now Read This: Jim Cramer Predicts A ‘Terrific Year’ For This Manufacturer, And As For U-Haul? ‘I’m Fine With It’