U.S. stocks were lower, with the Dow Jones falling over 1% on Thursday.

Shares of Alibaba Group Holding Limited BABA rose sharply during Thursday's session after the company reported third-quarter financial results and beat its adjusted EPADS and revenue estimates.

The Jack Ma co-founded e-commerce giant reported fiscal third-quarter 2024 revenue growth of 8% year-on-year to $38.38 billion, beating the analyst consensus estimate of $38.19 billion. Adjusted earnings per ADS of $2.93 beat the analyst consensus estimate of $2.66. Adjusted net income rose 7% Y/Y to $7 billion.

Alibaba Group shares jumped 9.5% to $137.77 on Thursday.

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

• Herbalife Ltd. HLF shares jumped 42.5% to $8.01 after the company reported fourth-quarter EPS and revenue above estimates.
• Unity Software Inc. U gained 26.6% to $27.19 after the company reported better-than-expected quarterly financial results.
• Pediatrix Medical Group, Inc. MD rose 20.5% to $17.01 after the company reported better-than-expected quarterly financial results.
• FTAI Aviation Ltd. FTAI gained 13.8% to $143.11 after the company determined that allegations from recent short seller reports were without merit and said it expects to file its 10-K on time.
• Hasbro, Inc. HAS gained 13.4% to $69.36 after the company reported better-than-expected quarterly financial results.
• Shake Shack Inc. SHAK rose 12.7% to $125.32 after the company reported quarterly EPS and revenue above estimates.
• Bausch Health Companies Inc. BHC gained 10.7% to $7.21 after the company reported better-than-expected quarterly sales.
• Manulife Financial Corporation MFC rose 7.3% to $31.96 after the company announced a dividend raise and a reduction in its shares outstanding through a normal course issuer bid.
• STMicroelectronics N.V. STM gained 6.2% to $28.13. The company is preparing to launch its next-generation technologies aimed at improving optical connections within data centers and AI clusters.

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