Stocks were rising Friday after data showed that U.S. employers added more jobs than expected last month.
Here are stocks making moves:
Paramount
stock jumped 13% on unconfirmed reports that Skydance Media and RedBird Capital are considering buying pieces of the media giant.
RH
tumbled 13% after the owner of
Restoration Hardware
reported an unexpected third-quarter adjusted net loss of $8 million, with revenue down 14% from a year ago. The home furnishings group said it has experienced increased headwinds, particularly in early October when mortgage rates peaked above 8%.
Smith & Wesson Brands
dropped 6.2% after the gun maker reported a dramatic fall in profit from a year ago. While sales in the October quarter rose 3% year over year, gross profit tumbled 19% with gross margins shrinking to 25% from 32%.
Carrier Global
rose 4.6% after the heating, ventilation, and air conditioning company said it entered a definitive agreement to sell its security business, Global Access Solutions, to industrial firm
Honeywell International
in a deal with an enterprise value of $4.95 billion. Honeywell stock fell 0.6%.
Lululemon Athletica
rose 4.2% after the athletic apparel retailer posted strong third-quarter results, with revenue growth at 19% and earnings ahead of estimates.
First Solar
rose 4.1% to $150.14 after Morgan Stanley upgraded the solar company to Overweight from Equal Weight and increased their price target to $237 from $214.
Qorvo
popped 3.9% to $104.23 after Morgan Stanley analysts upgraded the wireless-chip company to Overweight from Equal Weight and lifted their price target to $134 from $120.
Qualcomm
was up 0.7% to $133.80 even after the firm cut its rating on the chip company to Equal Weight from Overweight but raised its price target to $132 from $119.
American depositary receipts of
Nokia
were up 3.4%. Jefferies cut its rating on the Finnish telecom equipment maker to Hold from Buy. The firm also upgraded shares of rival
Ericsson
to Buy from Hold, and American depositary receipts jumped 1.7%. Earlier this week,
AT&T
said it has reached a deal with Ericsson to buy up to $14 billion worth of network equipment over five years.
DocuSign
gained 3.2% after reporting better-than-expected results for the October quarter. The e-signature company showed signs of recovery following a post-Covid slowdown, with earnings per share and revenue both firmly ahead of Wall Street’s estimates.
Write to Jack Denton at jack.denton@barrons.com and Emily Dattilo at emily.dattilo@dowjones.com
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