US stocks closed higher on Thursday, with the Dow Jones Industrial Average gaining around 400 points. The surge was fueled by strong earnings reports from several companies, with Build-A-Bear Workshop emerging as the biggest winner.
Build-A-Bear shares soared 19.7% to $33.37 after the company announced better-than-expected second-quarter financial results. Revenue grew 2.4% year-over-year to $111.8 million, exceeding analyst estimates of $108.5 million. Earnings per share (EPS) also beat expectations, coming in at 64 cents, a 12.3% year-over-year increase, compared to the Wall Street consensus of 57 cents.
Several other companies also saw their shares jump on the back of strong earnings. Affirm Holdings, Inc. shares skyrocketed 33.2% to $42.06 after the company delivered impressive fourth-quarter earnings and an optimistic first-quarter outlook.
Eos Energy Enterprises, Inc. gained 22.2% to $2.6750 following the announcement that it had achieved key performance milestones related to Carberus Capital Management’s investment. This achievement allowed the company to draw an additional $30 million from its delayed draw term loan.
Nutanix, Inc. also enjoyed a strong day, with shares climbing 20.9% to $63.22. The company reported better-than-expected fourth-quarter financial results and issued FY25 revenue guidance that surpassed estimates.
Other notable gainers included Eliem Therapeutics, Inc. (ELYM), Iris Energy Limited (IREN), Polestar Automotive Holding UK PLC (PSNY), Best Buy Co., Inc. (BBY), iRhythm Technologies, Inc. (IRTC), Astera Labs, Inc. (ALAB), The Cooper Companies, Inc. (COO), Kanzhun Limited (BZ), Veeva Systems Inc. (VEEV), GameStop Corp. (GME), Stevanato Group S.p.A. (STVN), Li Auto Inc. (LI), Canadian Imperial Bank of Commerce (CM), West Pharmaceutical Services, Inc. (WST), Nokia Oyj (NOK), NIO Inc. (NIO), and Arm Holdings plc (ARM).
The strong performance of these companies, fueled by positive earnings reports and optimistic outlooks, contributed to the overall upward trend in US stock markets on Thursday.
