Stocks finished higher Thursday amid a spike in producer prices and a fall in weekly jobless claims.
Here are some of the big movers in the stock market on Thursday:
1. Silvergate Capital | Increase 14%
Silvergate Capital (SI) - Get Report surged after Diem Association, a digital-currency group backed by Facebook (FB) - Get Report, tapped the financial-services company to issue the Diem USD stablecoin. Diem Association said it's moving its primary operations to the U.S. from Switzerland.
2. Sonos | Increase 7.4%
Sonos (SONO) - Get Report rose after the maker of speakers and soundbars reported better-than-expected fiscal-second-quarter earnings, raised guidance and offered an upbeat view amid the economic recovery from the COVID-19 pandemic. Revenue nearly doubled to $332.9 million from $175.1 million a year earlier.
3. BJ's Wholesale | Increase 5.8%
BJ's Wholesale Club (BJ) - Get Report advanced after the warehouse retailer was upgraded to overweight from neutral by J.P. Morgan analyst Christopher Horvers with a $51 price target. Horvers said he was more optimistic than other analysts about BJ’s upcoming earnings report. He also sees stimulus checks giving a boost to membership-renewal rates.
4. Cornerstone Building Brands | Increase 9.9%
Shares of Cornerstone Building Brands (CNR) - Get Report jumped after the building products and equipment company reported better-than-expected first-quarter results. DA Davidson analyst Brent Thielman upgraded the company to buy from neutral and raised his price target to $18 from $14.
5. Goodyear | Increase 4.3%
Goodyear (GT) - Get Report climbed after the tire maker said it had started a private offering to eligible purchasers of $1.45 billion face amount of 8- and 10-year senior notes. Goodyear said the proceeds will be put toward its $2.8 billion acquisition of Cooper Tire (CTB) - Get Report.