La-Z-Boy Incorporated

Moderna shares surged by a record 101 percent, the stock's biggest intraday gain on record, after the biotech said a personalized cancer vaccine combined with partner Merck & Co.'s Keytruda helped cut the recurrence of melanoma in a large, late-stage trial. The study also met a key secondary goal of showing the shot could help prevent tumors from spreading to new areas of the body, the companies said in a statement Wednesday. Estee Lauder rallied after the beauty company's adjusted earnings per share and sales metrics topped consensus expectations for the fourth quarter, with the midpoint of fiscal 2027 organic sales and adjusted EPS guidance ranges above Street views. La-Z-Boy tumbled at the open after the furniture maker's forecast sales for the second quarter missed the average analyst estimate.

Moderna and Merck shares surged after their personalized cancer vaccine showed positive results in a late-stage trial, with Moderna skyrocketing 120% and Merck jumping 10%. Pilgrim's Pride rallied 15% after JBS, which owns more than 80% of the chicken producer, bid to acquire the remaining stock. Gold miners jumped after the Treasury Department announced sharply higher government debt repurchases, sending yields lower and boosting gold, with the VanEck Gold Miners ETF up 9% and Coeur and Hecla each gaining more than 13%. Marvell Technology rose more than 7% after giving Google permission to buy a $12 billion stake as part of a custom chip development deal. Coinbase surged 11% as bitcoin popped more than 5% to about $68,000, while Lowe's gained over 3% despite cutting its full-year outlook to the bottom end of prior guidance. Target added 5% after beating second-quarter revenue expectations and hiking full-year guidance, helped by a $752 million tariff refund boost. La-Z-Boy tanked 16% after fiscal first-quarter adjusted earnings fell 9% and current-quarter revenue guidance missed FactSet consensus, while Mercury Systems slid more than 6% on mixed results. Estee Lauder rose more than 16% after fiscal fourth-quarter adjusted earnings and revenue beat estimates.

Moderna and Merck shares surged premarket after their personalized cancer vaccine showed positive results in a late-stage trial. Moderna's stock at one point soared 57%, while Merck's jumped just over 6%. It is unclear when the companies plan to submit applications for approval of the drug in the U.S. Elsewhere, Keysight Technologies rose 2% after beating third-quarter earnings and revenue expectations, while Lowe's fell 2% after updating its full-year outlook to the bottom end of prior guidance. Target declined 1.5% despite better-than-expected revenue and raised guidance, and La-Z-Boy tanked almost 17% after missing earnings and issuing weak current-quarter revenue guidance. Mercury Systems slid more than 9% after its adjusted earnings missed estimates, while Toll Brothers rose just over 1% on better-than-expected results. Estee Lauder rose more than 7% after beating fiscal fourth-quarter estimates, and Analog Devices gained more than 3% after exceeding expectations and reporting a higher gross margin.

Several companies made notable moves in after-hours trading following their latest earnings reports. Toll Brothers dipped 0.3% after guiding fourth quarter deliveries to between 3,450 and 3,550 homes, versus the StreetAccount consensus of 3,508, while reporting third quarter earnings of $2.97 per share on revenue of $2.65 billion, beating LSEG estimates of $2.93 and $2.61 billion. Keysight Technologies rose 2% after posting adjusted earnings of $3.07 per share on revenue of $1.85 billion, exceeding FactSet expectations of $2.48 and $1.75 billion. La-Z-Boy tumbled 17% as first quarter adjusted earnings fell 9% to 43 cents per share and adjusted operating income dropped 20% to $18.7 million, with current quarter revenue guidance of $500 million to $520 million missing the FactSet consensus of $536.8 million. Mercury Systems slid more than 10% after projecting fiscal 2027 revenue of about $1.1 billion, above the $1.05 billion FactSet estimate, but fourth quarter adjusted earnings of 37 cents missed by one cent. Jack Henry & Associates gained 3% after reporting fourth quarter earnings of $1.57 per share on revenue of $644 million, topping FactSet forecasts of $1.47 and $631.6 million.