Biggest stock movers Thursday: SNOW, URBN, and more

Stock futures inched up Thursday morning after a prior-session sell-off, with investors’ attention shifting to President Donald Trump’s sweeping tax and spending bill.

Here are some of Thursday’s biggest stock movers:

Biggest stock gainers

• Snowflake (NYSE:SNOW) +7% – Shares rose after the company beat Q1 expectations and raised its FY2025 product revenue outlook. Adjusted EPS came in at $0.24, while revenue grew 26% Y/Y, driven by a 26% rise in product revenue and a 16% gain in professional services and other revenue. Remaining performance obligations jumped 34% to $6.7B. Snowflake now expects full-year product revenue of $4.33B (up from $4.28B), topping the $4.29B consensus. Q2 product revenue is projected at $1.035B–$1.045B, implying 25% Y/Y growth, ahead of the $1.03B estimate.
• Lumen Technologies (NYSE:LUMN) +15% – Shares jumped after AT&T (T) agreed to acquire most of Lumen’s mass markets fiber internet business for $5.75B. The deal will add ~1M Lumen fiber customers to AT&T and is expected to be accretive long term, 12–24 months post-close. AT&T aims to leverage Lumen’s fiber infrastructure to expand to ~60M fiber locations by 2030. Lumen will offer AT&T access to infrastructure and transition support for up to two years. Post-closing, AT&T plans to bring in an equity partner for “NetworkCo,” a new wholesale fiber platform expected to be deconsolidated from AT&T’s financials. The transaction excludes Lumen’s enterprise and copper-based customers and is expected to close in H1 2026.
• Urban Outfitters (NASDAQ:URBN) +17% – Shares soared after the company reported record quarterly sales and profits, surpassing Wall Street expectations. Revenue rose 10% Y/Y to $1.33B, led by a 59.5% surge in Nuuly subscription sales, with Free People up 10.8%, Anthropologie up 8.2%, and Urban Outfitters up 1.2%. EPS jumped 78% to $1.16, beating estimates by $0.33. Comparable sales rose 4.8%, also topping the 3.24% consensus, with the Urban Outfitters banner posting a surprise 2.1% gain versus expectations for a decline. However, the company did not provide any guidance.

Biggest stock losers

• CEL-SCI (NYSE:CVM) -43% – Shares plunged after the company priced a public offering of 2M shares at $2.50 each, well below the prior close of $4.51, to raise $5M in gross proceeds. The offering includes a 45-day option for underwriters to purchase up to an additional 190K shares to cover over-allotments. Proceeds will support the continued development of its immunotherapy candidate Multikine*, as well as general corporate purposes and working capital. The offering is expected to close on May 23, 2025, pending customary conditions.