Stocks ended sharply lower Thursday after Federal Reserve Chairman Jerome Powell said the central bank would be patient before changing policy even if inflation were to tick higher.
Here are some of the big movers in the stock market for Thursday:
1. Burlington Stores | Increase 11%
Burlington Stores (BURL) shares rose sharply after the discount department store chain posted better-than-expected earnings for the fourth quarter. Revenue climbed 3.3% to $2.28 billion, topping the FactSet analyst consensus of $2.06 billion.
2. Five Prime Therapeutics | Increase 78%
Shares of Five Prime Therapeutics (FPRX) soared after Amgen (AMGN) agreed to buy the biotech company for $1.9 billion in cash. Amgen will pay $38 a share for Five Prime and the transaction is expected to close by the end of the second quarter.
3. Red Robin Gourmet Burgers | Increase 7.8%
Red Robin Gourmet Burgers (RRGB) rose after Loop Capital analyst Lynne Collier upgraded the restaurant operator to buy from hold with a $40 price target and Raymond James analyst Brian Vaccaro raised his price target to $40 from $35, while affirming an outperform rating.
4. United Natural Foods | Increase 5.3%
Shares of United Natural Foods (UNFI) rose after the food wholesaler said it had extended its distribution tieup with Amazon's (AMZN) Whole Foods until September 2027, as demand for healthy food at home continues to rise. The existing contract was set to expire in October 2025.
5. Murphy Oil | Increase 7.9%
Murphy Oil (MUR) rose after the oil and natural gas exploration and production company priced $550 million of 6.375% senior notes due 2028. The offering is likely to close on March 5, subject to customary closing conditions.