Top Moving Stocks for Wednesday 03/03/2021

Top moving stocks

Stocks of Veritiv Corp $VRTV grew 40.99%, Michaels Companies Inc $MIK went up 22.20% while Callon Petroleum $CPE increased 18.24% among other stocks making the headlines. We have highlighted below some of the reasons for the price movements

Veritiv Corp $VRTV
Veritiv shares grew 40.99% after the company reported Q4 EPS of $1.90, up from $0.21 year over year. The company also reported better-than-expected Q4 sales results and a $50 million buyback. It started trading at $27.22 to close the day at $35.53.

Michaels Companies Inc $MIK
The Michaels companies shares went up 22.20% following the company’s announcement that it had entered into an agreement to be acquired by funds managed by Apollo Global Management for $22 per share in cash. The stock had previously closed at $18.02, started Wednesday at $22.07, and settled at $22.02 per share price.

Callon Petroleum Co $CPE
Shares of several oil companies traded higher ahead of Thursday’s OPEC+ meeting regarding supply cuts. Reported optimism that producers may not increase output has lifted oil for the session. The stock rose about 18.24% after opening the day’s session at $27 to close at $31.05 per share price.

Dycom Industries Inc $DY
Dycom industries shares increased 12.44% after the company reported better-than-expected Q3 sales results. The company also announced a $150 million share buyback. It opened trading at $74.05 to close at $87.15