US Stocks Rise Amid Q4 Earnings Beats, Lucid Group, AAR Corp. Lead Gainers

U.S. stocks rose, with the Nasdaq gaining 100 points on Thursday. AAR Corp. reported Q4 earnings of $1.16 per share, beating estimates, and quarterly sales of $754.5 million, also beating estimates. The company's shares jumped 12.7% to $84.41. Other big stocks recording gains include Lucid Group, Monarch Casino & Resort, Palladyne AI Corp., Pagaya Technologies Ltd., and Opendoor Technologies Inc.

U.S. stocks experienced a positive day on Thursday, with the Nasdaq gaining around 100 points. AAR Corp. (NYSE:AIR) reported fourth-quarter financial results that exceeded analyst estimates, leading to a significant increase in its stock price. The company's shares jumped 12.7% to $84.41, driven by earnings of $1.16 per share, which beat the consensus estimate of $1.01 per share, and quarterly sales of $754.5 million, surpassing the estimate of $695.714 million [1].

Other notable gains in the session included Lucid Group, Inc. (NASDAQ:LCID), which saw its shares rise 30.5% to $2.9897 after announcing a global robotaxi program with Nuro and Uber. Monarch Casino & Resort, Inc. (NASDAQ:MCRI) also reported better-than-expected second-quarter financial results, causing its stock to surge 21.3% to $106.01 [2].

Palladyne AI Corp. (NASDAQ:PDYN) gained 24% to $11.98, while Pagaya Technologies Ltd. (NASDAQ:PGY) climbed 20.7% to $28.41 following the issuance of second-quarter revenue guidance above estimates. Opendoor Technologies Inc. (NASDAQ:OPEN) rose 20.1% to $1.7906, and Waterdrop Inc. (NYSE:WDH) gained 16.5% to $1.69. Sarepta Therapeutics, Inc. (NASDAQ:SRPT) rose 16% to $21.33 after announcing plans to restructure and reduce costs, with Baird raising its price target on the stock from $30 to $35 [2].

QuantumScape Corporation (NASDAQ:QS) gained 14.4% to $12.98, BigBear.ai Holdings, Inc. (NYSE:BBAI) rose 13.3% to $8.07, and Unity Software Inc. (NYSE:U) gained 13.3% to $38.44, with UBS analyst Chris Kuntarich raising the price target from $22 to $33. Rocket Lab Corporation (NASDAQ:RKLB) gained 7.2% to $51.12, SoundHound AI, Inc. (NASDAQ:SOUN) rose 7.2% to $12.63, Applied Digital Corporation (NASDAQ:APLD) gained 7.1% to $10.78, and Albemarle Corporation (NYSE:ALB) rose 5.5% to $74.31 [2].

References:
[1] https://za.investing.com/news/sec-filings/zyversa-therapeutics-to-be-delisted-from-nasdaq-trading-to-move-to-otc-market-93CH-3791966
[2] https://news.futunn.com/en/post/59294446/aar-lucid-group-monarch-casino-resort-and-other-big-stocks