Stocks were higher Friday following Fed Chairman Jerome Powell’s comments that the central will keep interest rates low even if inflation rises above its target levels.
Powell said the Fed would seek inflation that averages 2% over time and adopted a new strategy that reflects the Fed’s “view that a robust job market can be sustained without causing an outbreak of inflation.”
Here are some of the market’s biggest gainers for Friday:
1. Nutanix | Percentage Increase Over 28%
Nutanix (NTNX) – Get Report soared after the company, which develops and provides an enterprise cloud platform, beat Wall Street’s fourth-quarter expectations. The company posted a quarterly loss of 39 cents a share, compared with a year-earlier loss of 57 cents, and was narrower than the Zacks estimate for a loss of 67 cents a share.
2. Workday | Percentage Increase Over 12%
Workday (WDAY) – Get Report was climbing after reporting better-than-expected revenue and earnings for the fiscal second quarter. The human capital management software vendor posted earnings of 84 cents a share on revenue of $1.06 billion, vs. 44 cents a share on sales of $887.8 million a year ago. Wall Street expected earnings of 66 cents a share on revenue of $1 billion.
3. BJ’s Restaurants | Percentage Increase Over 10%
BJ’s Restaurants (BJRI) – Get Report has been advancing since beating Wall Street’s earnings expectations last month and the restaurant chain operator was recently upgraded to buy from hold by analysts at BidaskClub.
4. Cheesecake Factory | Percentage Increase Over 8%
Cheesecake Factory (CAKE) – Get Report shares were climbing after the casual dining chain said in a regulatory filing that it restored pay for all corporate employees below the executive officer level, and recalled “a majority” of its staff previously furloughed.
5. Lindblad Expeditions | Percentage Increase Over 9%
Linblad Expeditions (LIND) – Get Report was rising after the company said it entered into an agreement with a group of investors for the private placement of $85 million of convertible preferred stock. Lindblad said the capital raise is expected to support the company through 2021, even in the event of an extended coronavirus shutdown.
