Stocks Making The Biggest Moves: Apple, Meta, Costco, Marvell, C3.ai, and More.

‍Apple

The technology giant increased 2.6% after Morgan Stanley reaffirmed its top choice rating, stating that the company had a "catalyst-rich event path" over the coming year. The company forecasts that the stock may increase by more than 20% in the upcoming 12 months.

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Meta

— After the tech giant revealed a significant price reduction for its more expensive virtual reality headset, the Quest Pro, shares of the company increased by more than 5%. Wall Street also became optimistic about Meta's prospects for artificial intelligence. Meta has been cited by Barclays as one of the AI benefactors, while Morgan Stanley has selected the business as one of its top picks in the sector, claiming that the technology is at a turning point.

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Costco Wholesale

 —The retailer's stock fell 3.4% after its fiscal second-quarter profits fell short of analysts' projections. Refinitiv reports that the wholesale retailer's reported sales of $55.27 billion were lower than the $55.54 billion consensus expectation.

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Hormel Foods

 — After JPMorgan downgraded the food processing firm to underweight from neutral, shares fell 2.7%. Shares of the spam manufacturer are not yet "completely de-risked," according to the company.

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Marvell Technology

— After Marvell Technology released mixed quarterly results and an unconvincing forecast, the semiconductor stock fell 7.3%. According to StreetAccount, the business predicted first-quarter earnings of 29 cents, falling short of the 41 cents predicted. Inventory adjustments and the associated costs are to blame, although management anticipates that the difficulties will pass later in the year.

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First Solar

— The solar stock increased by 5% after UBS said that it would benefit most from the Inflation Reduction Act among covered equities.

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Asana

— Asana shares increased by 9% on D.A. The software stock was upgraded by Davidson from neutral to buy. Asana app data from Sensor Tower "shows a sustained increase in active users and a noticeable acceleration in downloads," the firm says.

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Bumble

- The dating app developer's stock fell 9.1%. After Bumble's announcement that it will price a secondary offering of 13.75 million shares of its common stock at $22.80 each, action was taken. The selling parties also include Whitney Wolfe Herd, the creator of Bumble, and a few shareholders connected to Blackstone.

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Broadcom

— After a stronger-than-anticipated quarterly report, the chipmaker's shares increased by 5%. With $8.92 billion in sales, Broadcom made $10.33 per share. With $8.92 billion in revenue, analysts projected a profit of $10.10 per share. Also, the corporation released fiscal second-quarter forecasts that exceeded projections.

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Ad Science Integral

— After the digital advertising company's fourth-quarter earnings and sales beat, shares increased by 10%. The actual revenue was $117.4 million, which was more than the StreetAccount average forecast of $111.3 million. Earnings of $40 million for the fourth quarter above projections of $36.9 million. Moreover, Integral Ad Science provided better first-quarter forecasts than anticipated by FactSet analysts.

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Zscaler

— Despite Zscaler reporting a stronger-than-expected first quarter, shares of the cybersecurity firm fell by about 10%. Refinitiv estimates that the business earned an adjusted 37 cents per share, above the 29 cents that analysts had projected. Wall Street, however, expressed alarm about the billings outlook, with Stifel analyst Adam Borg saying in a letter to clients that the guidance was "muted."

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C3.ai

— The enterprise AI company saw a 30% increase in shares as its fiscal third-quarter earnings beat Wall Street forecasts. In contrast to analysts' forecasts of a 22-cent loss from Refinitiv, the corporation reported a loss of just 6 cents per share. Moreover, it reported sales of $66.7 million, above the $64.2 million estimate.

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Holdings for Norwegian Cruise Line

— The cruise line's shares increased by more than 3%, extending its post-earnings recovery. After posting a larger-than-expected loss for the fourth quarter, Norwegian's stock fell more than 10% on Tuesday, although it has already recovered much of that loss.

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JBG Smith Properties

— Shares of the real estate investment trust and builder fell 6.2% after Amazon announced that building on its Virginia headquarters will be halted.

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Samsara

— Shares of the internet of things company rose more than 18.8% after reporting better-than-expected fourth-quarter earnings. Management comments pointing to breakeven free cash flow by year's end also helped the stock.

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