Coinbase, Apple stocks falls while GitLab, Thor shares rally, and other stocks on the move

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Here are some stocks seeing bigger movers on Tuesday:

Stock gainers:

Shares of Thor Industries Inc. shot
THO,
+14.50%

up 15% in morning trading after the recreational vehicle maker reported a fiscal third-quarter adjusted profit that was more than what was expected, and nudged up its full-year outlook.

Rival RV maker Winnebago Industries Inc.’s stock
WGO,
+8.00%

jumped more than 7% in sympathy. The company projected by FactSet to report quarterly results on or about June 21.

Mereo BioPharma Group PLC shares
MREO,
+7.14%

gained 3.3% and Ultragenyx Pharmaceutical Inc.‘s stock
RARE,
+1.76%

gained 1.5% after the companies announced positive results from a study of setrusumab in patients with osteogenesis imperfecta, a group of genetic bone disorders.

GitLab Inc.
GTLB,
+26.91%

shares surged 20%, following an earnings report that beat expectations and played up the software company’s efforts in artificial intelligence.

Sprinklr Inc.
CXM,
+10.17%

rose 8% after the enterprise-cloud-software-products provider guided for higher-than-expected profit and revenue in its fiscal year. The company’s results beat analysts forecasts in the latest quarter.

Stock decliners:

Coinbase Global Inc. shares
COIN,
-13.98%

tumbled 14% after the U.S. Securities and Exchange Commission charged the cryptocurrency exchange with operating an unregistered national securities exchange.

Apple Inc.’s stock
AAPL,
-0.56%

fell 0.8%, after a mixed reaction from Wall Street analysts to the smartphone behemoth’s unveiling of its mixed-reality headset, which was priced at $3,499.

Shares of J.M. Smucker Co.
SJM,
-2.08%

fell 2.4%, after parent of consumer brands including Folgers, Smuckers, Dunkin’ and Meow Mix, beat fiscal fourth-quarter profit expectations, while providing a full-year outlook for free cash flow that was well below forecasts.

Merck & Co. Inc. shares
MRK,
-0.84%

shed 0.9% after the drug giant filed a lawsuit against the federal government over the Medicare drug price negotiation program established last year as part of the Inflation Reduction Act.

Shares of self-driving technology developer Mobileye Global Inc.
MBLY,
-1.35%

 fell 1.1%, to pare earlier losses of as much as 4.6%, after the company said it was launching a secondary offering of 35 million of its shares, which are being sold by an Intel Corp. 
INTC,
+4.02%

 subsidiary.

— Barbara Kollmeyer contributed to this report

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