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PRISM Analysis: Stocks Making the Biggest Moves in Thursday Trading

NEW YORK, NY, December 07, 2023 – US equities are settling mostly higher in Thursday midday trading, with big tech broadly higher as Google ($GOOG) rallies after the company’s launch of Project Gemini, an AI model trained to behave in human-like ways. Airlines, including JetBlue ($JBLU), credit cards and chemicals are performing well.

Notable gainers for the day include Verint Systems ($VRNT) which is up +21.6% on positive Q3 earnings, Semtech($SMTC), which rose +17.9% also following strong Q3 earnings and expected strong high-end consumer net sales, and JetBlue Airways ($JBLU), up +13% after the airline raised revenue guidance and noted healthy travel demand, outperformance in close-in bookings, and solid operational performance.

The day’s decliners are Sprinklr ($CXM), down (31.7%) after being downgraded to Neutral from Buy at BTIG, Methode Electronics ($MEI) which fell (12.7%) following big earnings misses attributed to headwinds related to auto program roll offs, a difficult year in Asia, continued softness in the e-bike market, and continued impact from the UAW strike. C3.ai ($AI) is down (11.5%) after reaffirming its FY24 revenue guidance but cutting operating income, and with R&D and sales costs that will add additional challenges to the company achieving its cash flow positive goal by FY25.

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SOURCE: PRISM MarketView

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