Stocks plummeted on Thursday, marking the Dow Jones Industrial Average’s worst weekly performance in more than a year. However, amidst the market decline, Levi Strauss reported strong fiscal first-quarter earnings that surpassed analysts’ estimates, causing its stock to surge by 12%. The company also raised its fiscal-year outlook, projecting adjusted earnings per share between $1.17 and $1.27, showing confidence in its continued growth.
In contrast, Lamb Weston experienced a significant drop in stock price after its fiscal third-quarter revenue missed expectations, leading the company to reduce its fiscal-year guidance. Another notable stock movement was observed in Ford, which fell by 3.2% following the announcement of a delay in spending on all-electric vehicles in favor of investing more in hybrids. The market also saw BlackBerry reporting positive fiscal fourth-quarter earnings, leading to a 2.5% increase in its stock price.
Additionally, Paramount Global faced a setback with an 8.5% decline in its stock price after entering exclusive merger discussions with Skydance Media, limiting potential offers from other parties. However, HubSpot managed to rise by 5% following reports of Alphabet’s interest in acquiring the marketing software company. The varied movements in stock prices highlight the dynamic nature of the market, influenced by a range of factors affecting individual companies and overall market trends.
