Biggest stock movers today: TSLA, AVGO, KFY, and more

Stock futures exhibited mixed performance on Thursday, a day after S&P futures rose above 5,400 for the first time following the Federal Reserve’s latest interest rate decision and May CPI data that came in cooler than expected.

Here are some of Thursday’s biggest stock movers:

Biggest stock gainers

• Tesla’s (NASDAQ:TSLA) shares jumped 6% after Elon Musk announced in a social media post that both shareholder resolutions—his $56B pay package, which had been a subject of controversy—and the company’s relocation to Texas were on track for approval by a wide margin.
• Broadcom (NASDAQ:AVGO) shares surged more than 14% after the chipmaker reported better-than-expected FQ2 results and outlook. The company’s board of directors also declared a 10-1 stock split, effective July 15. The company raised its FY2024 revenue outlook from $50B to $51B, above the consensus of $50.58B. Adjusted EBITDA is forecast to be around 61% of the revenue.
• Shares of Korn Ferry (NYSE:KFY) soared nearly 7% after exceeding expectations in FQ4 results and raising the dividend by 12%. Additionally, the company sees 1Q25 adjusted diluted EPS in the range of $1.07 to $1.17 vs. the consensus of $1.06.

Biggest stock losers

• Virgin Galactic Holdings (NYSE:SPCE) shares plunged 12% after its Board of Directors approved a 1-for-20 reverse stock split of the company’s common stock, effective on June 14, after the market closes. The primary goal is to increase the per-share market price to meet the minimum bid price requirement for continued listing on the NYSE.
• Dave & Buster’s Entertainment (NASDAQ:PLAY) shares plummeted over 13% due to underperformance in Q1 results, including a 5.6% decline in comparable sales, a 12.6% decrease in adjusted EBITDA, and a 37.2% decrease in adjusted net income Y/Y.
• Workhorse Group’s (NASDAQ:WKHS) shares lost nearly 12% following a 1-for-20 reverse split announcement to meet Nasdaq’s minimum bid price requirement for continued listing. The company must achieve a closing bid price of at least $1.00 for 10 consecutive trading days by September 16, following approval from shareholders at last month’s annual meeting.
• Signet Jewelers (NYSE:SIG) shares tumbled 11% after mixed Q1 results and disappointing same-store sales, which fell 8.9% vs. expectations of an 8.3% decline. Sales in North America and internationally fell 9% and 17%, respectively. The company anticipates Q2 sales between $1.46B and $1.52B, vs. the consensus of $1.51B. Same-store sales are likely to fall 6% to 2% for the quarter, compared to the consensus of a negative 5.33%.
• Gold Fields (NYSE:GFI) shares fell 12% after the company cut its full-year production outlook to 2.2M–2.3M oz of gold production, down from the previous forecast of 2.33M–2.43M oz, mostly because of lower expected output from Salares Norte, which is now seen at 90K–180K oz compared to its prior outlook of 220K–240K oz. The lower expected output from Salares Norte is due to the freezing of material in the piping of the process plant at the mine. The plant has been restarted, but commissioning and ramp-up during the winter period are expected to be challenging, creating uncertainty over production levels.