Stocks finished down Thursday amid a disappointing U.S. jobless claims report and a failing tech stock rally.
The disappointing U.S. jobless claims report exposed weaknesses in a labor market recovery.
Here are some of the big movers in the stock market on Thursday:
1. RH | Percentage Increase 20%
RH (RH) - Get Report shares on Thursday jumped following record second-quarter results from the Restoration Hardware parent as spending on home improvement has been strong during the pandemic. Revenue growth lagged demand by about 16 points due to coronavirus-prompted disruptions across its global supply chain.
2. Navistar International | Percentage Increase 13%
Truck maker Navistar International (NAV) - Get Report advanced after Volkswagen subsidiary Traton raised its bid to buy the company by roughly 23% to $3.6 billion. Traton said it would now pay $43 a share for the Navistar shares it doesn't already own, up from the bid of $35 a share proposed in January.
3. Virtusa | Percentage Increase 24%
Virtusa (VRTU) - Get Report shares jumped after the digital engineering and IT outsource company said it was being acquired by Baring Private Equity Asia for about $2 billion cash. Under the terms of the agreement, Baring PE Asia will acquire all of Virtusa's common shares for $51.35 each.
4. Penn National Gaming | Percentage Increase 7%
Shares of Penn National Gaming (PENN) - Get Report were higher after the gambling company was initiated buy at Rosenblatt with a Wall Street high price target of $80 a share. The firm is bullish on Penn's acquisition of a 36% interest in popular sports news platform Barstool Sports and on the company's burgeoning sports betting business.
5. SelectQuote | Percentage Increase 11%
SelectQuote (SLQT) was climbing after the online insurance broker beat Wall Street's fourth-quarter earnings expectations. Revenue totaled $141.4 million, up 90% from a year earlier. For fiscal 2021 SelectQuote guided investors and analysts to revenue of $775 million to $815 million, which exceeded expectations.