Advance Auto Parts Posts Upbeat Q1 Earnings, Joins IBM, Ralph Lauren And Other Big Stocks Moving Higher On Thursday

U.S. stocks were lower, with the Nasdaq Composite falling over 200 points on Thursday.

Shares of Advance Auto Parts Inc (NYSE:AAP) rose sharply as the company reported better-than-expected first-quarter financial results.

Advance Auto Parts reported quarterly earnings of 77 cents per share which beat the analyst consensus estimate of 45 cents per share. The company reported quarterly sales of $2.614 billion which beat the analyst consensus estimate of $2.579 billion.

Advance Auto Parts shares jumped 16.4% to $59.61 on Thursday.

Here are some other big stocks recording gains in today’s session.

• Infleqtion inc (NYSE:INFQ) shares jumped 42.5% to $15.94 after the company announced it signed a Letter of Intent with the U.S. Department of Commerce’s CHIPS Research and Development Office for $100 million in proposed funding to accelerate development of neutral-atom quantum systems.
• Rigetti Computing Inc (NASDAQ:RGTI) gained 24% to $20.93 after the company announced it signed a Letter of Intent with the U.S. Department of Commerce for $100 million to accelerate superconducting quantum computing R&D.
• D-Wave Quantum Inc (NYSE:QBTS) gained 24% to $23.91 after the company announced it signed a Letter of Intent with the U.S. Department of Commerce for $100 million of proposed funding to accelerate development and scaling of its annealing and gate-model quantum systems.
• Applied Digital Corp (NASDAQ:APLD) rose 16.5% to $46.06 after the company announced it has entered into a long-term lease agreement with a U.S. based high investment-grade hyperscaler.
• Birkenstock Holding PLC (NYSE:BIRK) gained 16.4% to $38.62 after announcing a $250 million accelerated stock buyback.
• Quantum Computing Inc (NASDAQ:QUBT) jumped 15.7% to $11.07.
• Nebius Group NV (NASDAQ:NBIS) gained 15.4% to $221.33.
• Aeluma Inc (NASDAQ:ALMU) rose 13.8% to $23.84.
• LG Display Co Ltd (NYSE:LPL) gained 11.5% to $4.88.
• Relay Therapeutics Inc (NASDAQ:RLAY) jumped 10.9% to $14.44. Relay Therapeutics announced the pricing of public offering of common stock.
• Ralph Lauren Corp (NYSE:RL) gained 10.3% to $363.47 following upbeat quarterly earnings.
• Wolfspeed Inc (NYSE:WOLF) gained 9.2% to $63.98.
• Bloom Energy Corp (NYSE:BE) gained 8.8% to $307.70 after the company announced an agreement with Nebius to supply fuel cells to help power AI cloud infrastructure.
• Arm Holdings PLC – ADR (NASDAQ:ARM) gained 8.4% to $278.49.
• IBM (NYSE:IBM) shares rose 6.6% to $239.71 after the company announced it received a $1 billion award and Letter of Intent to build an American quantum chip foundry.
• Credo Technology Group Holding Ltd (NASDAQ:CRDO) gained 4.4% to $190.96.

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