Advance Auto Parts stock soared 47.6% after the car- and truck-components seller said it expects to deliver on its profit forecast for the year, even after it started including the impact of current tariffs.
Urban Outfitters shares rallied 21.9% after the apparel and accessories retailer reported first-quarter results above expectations and dismissed signs of a demand slowdown.
Pony AI shares jumped 14.2%. Goldman Sachs analyst Allen Chang increased the price target on Pony AI shares to $26.00, up from $23.10, while reiterating a Buy rating for the company.
Snowflake shares jumped 10.8% after the data warehouse company reported first-quarter results that topped Wall Street's expectations and raised its product revenue forecast for the full year.
Lumen Technologies shares were up 1.8% on the sale of the business, which provides high-speed internet services to residential customers. AT&T has clinched a deal to acquire Lumen Technologies' consumer fiber operations for $5.75 billion in cash, the companies said, as the wireless provider adds further scale to its national fiber footprint.
Nike planning to raise prices of some products from next week and will sell items on Amazon after six years, the company said. The shares gained 1.4%.
UnitedHealth shares dropped another 1.6% on Thursday after sinking 5.8% on Wednesday. UK's Guardian newspaper reported the company made secret payments to nursing homes to reduce hospital transfers, adding to the woes of the healthcare conglomerate. Meanwhile, HSBC downgraded its rating on UnitedHealth to reduce on Wednesday, and trimmed its price target to $270 per share from $490.
Hims & Hers Health shares sank 4.5%. The sharp decline comes as investors react to regulatory changes and market developments that could substantially impact the company's weight-loss drug business.
The FDA is set to end its policy allowing compounded copies of popular weight-loss drugs like Wegovy and Zepbound on May 22. This policy had previously benefited companies like Hims & Hers, which saw soaring sales of these compounded versions while the brand-name drugs were in shortage. The imminent policy change threatens to cut off a significant revenue stream for the company.