Scorching Shares: INMD jumps on prelim. outcomes; DPZ climbs on earnings; PGR falls; BIIB improve

The tempo of earnings releases remains to be comparatively gradual, with a steep enhance slated for the approaching weeks. Nonetheless, company outcomes represented a catalyst for stock-specific motion in Thursday’s noon buying and selling.

This included InMode (INMD), which rallied on the discharge of preliminary knowledge. An earnings report additionally prompted an upswing in Domino’s Pizza (NYSE:DPZ).

Nevertheless, Progressive (PGR) moved in the other way following the discharge of monetary figures. The inventory dropped after issuing its month-to-month efficiency replace.

In non-earnings information, Biogen (BIIB) rose following an analyst improve.

Gainers

Biogen (BIIB) posted positive aspects in noon buying and selling following a bullish analyst remark. Stifel upgraded the biotech to Purchase from Maintain, spotlighting the agency’s Alzheimer’s candidate as a catalyst.

Stifel mentioned that BIIB’s lecanemab could have a aggressive scientific profile towards rival candidates being created at Eli Lilly (LLY) and Roche (OTCQX:RHHBY). BIIB rose about 6% on the information.

Elsewhere, InMode (INMD) obtained vital shopping for curiosity, rising almost 12% after the healthcare gear agency supplied better-than-expected preliminary outcomes.

The corporate mentioned it now expects its Q3 income to succeed in a variety between $120.5M and $120.9M. This represents a big enchancment in comparison with analysts’ consensus of about $106M.

Earnings information additionally gave a lift to Domino’s Pizza (DPZ). Shares jumped 10% in noon buying and selling.

The corporate issued sluggish Q3 outcomes, with EPS falling 14% from final 12 months and lacking analysts’ expectations. Nevertheless, the corporate confirmed enchancment in U.S. same-store gross sales, with the determine rising 2% from final 12 months. The quantity dropped 3.6% within the earlier quarter.

Decliner

The discharge of September efficiency figures sparked promoting in Progressive (PGR), with shares dropping 2% in noon buying and selling. The figures confirmed a internet loss for September of $684M, with internet premiums written flat with final 12 months.

For the quarter as a complete, PGR reported a 5% enhance in internet revenue, in addition to 5% development in its internet premiums written. Internet premiums earned rose 9% from final 12 months.

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