Thursday was a relatively quiet day on Wall Street, as investors seemed content to stay calm in the post-Thanksgiving lull before end-of-year activity begins in earnest. However, December didn't get off to a good start on Wall Street. The Nasdaq Composite (^IXIC +0.22%) and S&P 500 (^GSPC +0.11%) managed to make small gains on the day, but the Dow Jones Industrial Average (^DJI 0.07%) fell slightly.
|
Index |
Daily Percentage Change |
Daily Point Change |
|---|---|---|
|
Dow |
-0.07% |
-32 |
|
S&P 500 |
+0.11% | +7 |
|
Nasdaq |
+0.22% |
+51 |
Data source: Yahoo! Finance.
Earnings season has largely run its course, but there are still some AI stocks that are reporting their latest financial results. A few of them were among the stocks seeing big share-price moves today.
Image source: The Motley Fool.
Top Stock Gainers Today
PATH: +24%
UiPath (PATH +24.43%) was up sharply Thursday after the agentic automation specialist reported fiscal third-quarter financial results. Revenue of $411 millon was up 16% year over year, with annualized recurring revenue coming in at $1.78 billion, up 12%. UiPath reversed year-ago losses with a significant operating profit, and a huge income tax benefit pushed net income up to $199 million, or $0.37 per share. Moreover, UiPath expects to see continued growth through the end of its current fiscal year. Chief Operating Officer Ashim Gupta was pleased that UiPath posted a profit under generally accepted accounting principles and believes that the AI stock has plenty of upside ahead of it.
NYSE: PATH
Key Data Points
USAR: +25%
Also ranking among the top stock market gainers on Thursday was USA Rare Earth (USAR +24.68%). The company announced that it had entered into a supply agreement under which one of its subsidiaries will provide rare-earth materials to a subsidiary of Compass Diversified (CODI +1.10%). USA Rare Earth didn't disclose many of the details of the agreement, but it did say that the collaboration involves production of advanced permanent magnets. The materials stock also said that the deal is just one example of the industrial partnerships that it is trying to make to increase the availability of rare-earth materials from sources outside China. USA Rare Earth will have to both sign up more deals and produce ample materials to reach its full potential.
Top Stock Losers Today
SYM: -17%
Warehouse and supply chain robotics specialist Symbotic (SYM 17.54%) found itself among the worst performers on Wall Street after it announced plans to conduct a secondary stock offering. The offering will include shares from both the company itself and from major shareholder Softbank. Symbotic expects to sell a total of 10 million shares in the offering, with underwriters having the option to take an additional 1.5 million shares at their election. Symbotic's stock had soared after announcing its latest earnings results late last month, but investors now apparently fear having their stake in the company diluted by the offering.
NASDAQ: SYM
Key Data Points
SNOW: -11%
Finally, Snowflake (SNOW 11.45%) was one of the top stock losers on the day. The AI data cloud specialist announced fiscal third-quarter results that included solid growth metrics, including a 29% rise in product revenue from year-ago levels to $1.16 billion and a net revenue retention rate of 125%. Snowflake boasted 688 customers spending at least $1 million annually on Snowflake's data platform, which was also 29% higher than the corresponding figure 12 months earlier. However, despite projections for continued strong growth in the fourth quarter, investors seemed to be disappointed with guidance for just a 7% adjusted operating margin for the period. Given that the figure for the third quarter came in at 11%, shareholders might be justified in worrying that Snowflake is prioritizing spending over maximizing earnings at this stage.
