Midday movers: Lululemon, Paramount and more

December 8, 2023 9:17 AM EST
(Updated - December 8, 2023 12:05 PM EST) -- Main U.S. indexes were unchanged on Friday after new data showed that the U.S. economy added more jobs than expected in November, pointing to a labor market resilience that may impact when the Federal Reserve chooses to start bringing interest rates down from over two-decade highs.

Here are some of the biggest U.S. stock movers today:

Lululemon Athletica (NASDAQ: LULU) shares climbed 5.5% after results for the third quarter topped expectations. The activewear group unveiled fourth-quarter revenue projections that missed consensus estimates, but management characterized the guidance as “being prudent.”

DocuSign Inc (NASDAQ: DOCU) stock rose 4% after reporting results that topped estimates, with margin guidance that some analysts considered to be cautious.

Shares in Smith&Wesson Brands (NASDAQ: SWBI) tumbled 8.8% after the gunmaker company reported earnings per share of $0.14 in the second quarter, below expectations.

Bluebird Bio (NASDAQ: BLUE) shares gained 7% after analysts at Morgan Stanley improved their rating of the gene-therapy firm to "equal-weight" from "underweight." It was later halted with "news pending" after FDA approval of Lyfgenia for sickle cell disease.

First Solar (NASDAQ: FSLR) gained 2% after Morgan Stanley upgraded the stock following the 20% correction over the past three months.

Paramount Global (NASDAQ: PARA) shares surged more than 13% on Friday. The strength followed a media report in the Deadline that David Ellison and RedBird Capital have shown interest in the company.

RH (NYSE: RH) shares tumbled more than 14% Friday after the company missed third-quarter earnings and revenue estimates.

Carrier Global (NYSE: CARR) climbed 4% after Honeywell (NASDAQ: HON) announced its acquisition of Carrier Global Corporation's Global Access Solutions business in an all-cash transaction valued at $4.95 billion.

Coinbase (Nasdaq: COIN) climbed 4.8%, its highest level in more than a year, as momentum in Bitcoin-related stocks continued.

CRISPR Therapeutics (NASDAQ: CRSP) declined 10% despite FDA approval of Casgevy for sickle cell disease. Casgevy is the first FDA-approved treatment to utilize a type of novel genome editing technology. CRISPR's partner Vertex (Nasdaq; VRTX) also declined, falling 1.2%.

By Louis Juricic and Scott Kanowsky

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