BJ's Wholesale shares rose 4% after reporting second-quarter earnings of $1.36 per share on revenue of $6.09 billion, surpassing analyst expectations of $1.17 per share and $5.97 billion in revenue. The company also raised its earnings guidance for the fiscal year to between $4.60 and $4.80 per share.
Similarly, Ross Stores saw a 4% increase in shares following strong second-quarter results and optimistic third-quarter guidance. In the cryptocurrency sector, stocks surged as bitcoin prices climbed over 20% for the week, with Robinhood up 12% and Coinbase gaining more than 8%, partly due to positive regulatory discussions in Washington.
Broadcom's shares increased nearly 1% amid reports of a plan to raise over $60 billion in debt for a deal involving Anthropic. Conversely, OSI Systems' shares fell almost 10% after reporting fourth-quarter revenue that missed expectations, with adjusted earnings of $3.78 per share on revenue of $484.1 million.
The Boston Beer Company dropped 3% following the announcement of CFO Diego Reynoso's departure. O-I Glass shares jumped 10% after Citi upgraded the stock to buy, suggesting a 41% upside. Moderna's stock surged over 10% after a significant rise earlier in the week due to positive trial results for a cancer vaccine, despite a brief pullback.
InnovAge's shares increased 2% following an upgrade from KeyBanc, indicating confidence in the company's operational turnaround. Lastly, Parsons saw a 4% rise after an upgrade from Baird, with a new price target suggesting a 24% upside