Stocks staged a dramatic comeback Thursday following the previous session's sell-off, as investor looked to move beyond concerns about the Omicron variant.
Here are some of the big gainers in the stock market on Thursday:
1. Kroger | Increase 11%
Kroger (KR) - Get Kroger Co. Report shares surged to the top of the S&P 500 after the biggest U.S. grocery chain posted stronger-than-expected third-quarter earnings and boosted its full-year profit guidance. Revenue rose 7.4% to $31.9 billion, topping analysts' estimates of a $31.23 billion tally.
2. Express | Increase 14.5%
Shares of Express (EXPR) - Get Express, Inc. Report powered higher after the apparel and accessories company swung to a fiscal-third-quarter profit and reported same-store sales that beat expectations. Net sales increased 47% from a year ago to $472 million. Adjusted net income came to $11.6 million, or 17 cents a share.
3. Snowflake | Increase 16%
Snowflake (SNOW) - Get Snowflake, Inc. Class A Report shares climbed after the data-analytics software provider reported a narrower-than-expected quarterly loss and provided strong sales guidance. For the fourth quarter, Snowflake said it expected revenue of between $345 million and $350 million, above the FactSet consensus estimate of $315.9 million.
4. Denny's | Increase 7.1%
Shares of Denny's (DENN) - Get Denny's Corporation Report jumped after Benchmark analyst Todd Brooks initiated coverage of the restaurant chain with a buy rating and $19 price target, noting that its highly franchised model is well suited for a recovery environment. He sees the company benefiting from retaining incremental off-premises revenue streams developed during the pandemic and thinks its highly franchised operating model provides "a large degree of protection from inflationary pressures."
5. Hilton Worldwide Holdings | Increase 7.4%
Hilton Worldwide Holdings (HLT) - Get Hilton Worldwide Holdings Inc Report rose after Loop Capital analyst Daniel Adam raised his price target on the iconic hotel chain operator to $142 from $140 and kept a hold rating after taking over coverage. Adam is "generally constructive" on global lodging trends heading into 2022, but is not forecasting a return to 2019 levels of revenue per available room until 2023, at the earliest. He sees "bumps along the way," including the latest omicron variant, which will likely hurt near-term travel and lodging demand.