Stocks traded higher Thursday with the S&P 500 closing at a record high again as the number of Americans filing for first-time unemployment benefits declined more than expected and U.S. manufacturing expanded but at a slower pace.
Here are some of the big movers in the stock market on Thursday:
1. Marin Software | Increase 41%
Marin Software (MRIN) – Get Report resumed its rise as the company was touted on Reddit message boards. Marin last week announced an enhancement to ad management software that enables users to manage ads placed on online grocery platform Instacart. The stock closed on June 23 at $1.71. It closed Wednesday at $17.50 and Thursday at $10.73 and at last check was at $15.84.
2. Fast Acquisition | Increase 11%
Fast Acquisition (FST) – Get Report surged after the special purpose acquisition company amended its merger agreement with Fertitta Entertainment, parent of Golden Nugget/Landry’s. Fertitta will contribute additional business to the combination, including the Mastro’s brand, the Aquariums and the Pleasure Pier.
3. Fiesta Restaurant Group | Increase 11%
Shares of Fiesta Restaurant Group (FRGI) – Get Report climbed after the company said it had agreed to sell its Taco Cabana brand to YTC Enterprises for $85 million cash. The transaction is expected to close in the third quarter.
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4. Pulse Biosciences | Increase 27%
Pulse Biosciences (PLSE) – Get Report jumped after the company entered an agreement under which Chairman Robert Duggan will buy 3.05 million of the company’s shares at $16.40 each. Duggan owns about 46% of the company’s stock outstanding; the purchase will boost his beneficial holding to about 51%.
5. Franklin Covey | Increase 11%
Franklin Covey (FC) – Get Report soared after the consulting company raised its guidance for the fiscal year. The company now expects adjusted Ebitda to come in between $24.5 million and $26.5 million. Franklin Covey swung to a third-quarter profit and reported sales of $58.7 million.