Stocks slumped lower Tuesday, with tech leading the declines, as government bond yields surged alongside commodity prices amid the extended energy crunch sweeping its way across the world.
Here are some of the big movers in the stock market Tuesday:
1. Gogo | Increase 32%
Gogo (GOGO) - Get Gogo Inc. Report shares jumped after the provider of broadband service for airplanes lifted its long-term financial targets, citing the expansion of private air travel. Gogo foresees revenue rising at a compounded annual rate of about 15% from 2020 to 2025. The prior target was at least 10%.
2. Huntsman | Increase 7.2%
Shares of Huntsman (HUN) - Get Huntsman Corporation Report jumped after activist investor Starboard Value took an 8.4% stake, which would be valued at more than $500 million, in the chemicals producer. Starboard plans to seek changes to improve the company's stock performance, The Wall Street Journal reported.
3. Thor Industries | Increase 6.9%
Thor Industries (THO) - Get Thor Industries, Inc. Report shares jumped after the recreational-vehicle maker nearly doubled its fiscal-fourth-quarter earnings and exceeded analysts' expectations. Thor Industries posted earnings of $231.3 million, or $4.12 a share, up 93% from $119.7 million, or $2.14 a share, in the year-earlier quarter. Revenue climbed 55% to $3.59 billion from $2.32 billion.
4. United Natural Foods | Increase 22%
Shares of United Natural Foods (UNFI) - Get United Natural Foods, Inc. Report skyrocketed after the company beat Wall Street's fourth-quarter earnings expectations. Sales of $6.735 billion were down from $6.767 billion and below the FactSet consensus for $6.850 billion, but the company offered an upbeat outlook.
5. Sonoma Pharmaceuticals | Increase 28%
Sonoma Pharmaceuticals (SNOA) - Get Sonoma Pharmaceuticals, Inc. Report shares surged after the company announced the over-the-counter consumer launch of Regenacyn Advanced Scar Gel and Ocucyn Eyelid & Eyelash Cleanser on Amazon.com, and MucoClyns on Amazon sites in Europe. All three products are available for customer orders.