April 4th, 2024 – Stocks tumbled on Thursday in a session of volatile trading ahead of the March jobs report. The Dow Jones lost 530.16 points, 1.35%, to close at 38,596.98, suffering its worst session since March 2023. The S&P 500 dropped 1.23% to end at 5,147.21 and Nasdaq dipped 1.40% to close at 16,049.08.
Levi Strauss (LEVI) stock jumped over 20% on Thursday after the company reported solid first quarter results and enjoys added exposure through a new Beyonce song.
The results came in with a revenue of $1.56 billion against an estimate of $1.55 billion and adjusted earnings per share resulting at $0.26 versus an analyst estimate of $0.21.
At the end of the day the growth settled at 12.38%.
Shares of Conagra Brands (CAG) closed on Thursday with a growth of 5.44% after the consumer packaged goods company announced its quarterly results that resulted in higher than expected results. In its fiscal 2024 third quarter the company reported a decline in net sales of 1.7% year over year to $3.03 billion that translated to a 10.1% decrease in adjusted earnings to $329 million or $0.69 per share, with analysts only expecting $0.65 per share on roughly the same revenue.
Shares of HubSpot (HUBS) grew as much as 10.7% during the day and then closed at 7.4%. The stock increased after reports that Google parent Alphabet is weighing the possibility of making an offer to acquire the Customer Relationship Management (CRM) software platform provider. According to some sources Alphabet has engaged advisors at Morgan Stanley to discuss the possibility of making an offer for HubSpot.
Author: Luca Sesena