HRB - Hot Stocks: TTD HRB surge on earnings news; ANGI drops on slowing growth; GSK SNY hit 52-week lows

Stocks surged on Wednesday following the release of consumer price data that showed cooling inflation in July. With investors betting that the Federal Reserve can take a more dovish stance due to tamer inflation, the Nasdaq and S&P 500 both jumped more than 2%.

While inflation data provided the main catalyst for the rally, earnings news played a part as well. The Trade Desk ( TTD ) and H&R Block ( NYSE: HRB ) both surged following the release of their respective quarterly updates.

Looking to the downside, Angi Inc. ( ANGI ) plunged after its own earnings release. While the firm beat expectations with its quarterly results, signs of slowing revenue growth spurred selling in the stock.

Meanwhile, Sanofi ( SNY ) and GSK ( GSK ) both pushed to new 52-week lows amid ongoing weakness in the COVID vaccine space.

Standout Gainer

Earnings news prompted buying in The Trade Desk ( TTD ), with shares of the advertising tech company soaring 36%.

The company met expectations with its Q2 profit, with revenue topping projections with 35% growth. The top-line figure reached $377M.

Looking ahead, TTD said its Q3 revenue would reach $385M. Analysts were predicting $382M. The company also targeted Q3 adjusted EBITDA of approximately $140M.

Based on the earnings news, TTD surged $19.74 to reach $74.24. The advance added to gains posted over the previous couple weeks, as the stock has come off a 52-week low of $39.

With Wednesday's jump, TTD recorded its highest close since April.

Standout Loser

Angi Inc. ( ANGI ) plunged following the release of its quarterly update, despite headline figures that exceeded analysts' expectations. Signs of slowing growth in recent months sent the stock spiraling 15%.

The company reported a narrower-than-expected quarterly loss , with revenue that jumped 23% from last year.

However, while the company's quarterly top-line growth topped 20%, that expansion has slowed in recent months. ANGI's revenue growth was just 10% in July , compared to 27% in June and 24% in May.

ANGI finished Wednesday's trading at $5.20, a decline of 94 cents on the day. The stock had been rising ahead of the quarterly report, with Tuesday marking its highest close since March.

Notable New High

The release of better-than-expected quarterly results sent H&R Block ( HRB ) to a new 52-week high. Shares jumped 15% on the news.

The tax preparer reported a Q4 profit that exceeded expectations by 15%. The company also reported stronger-than-projected revenue, with the figure coming in at $1.05B.

The company also provided an upbeat forecast for the next fiscal year, predicting adjusted EPS of $3.70 to $3.95. Analysts were looking for a figure of $3.68.

In addition to the earnings news, HRB announced a new stock repurchase plan valued at $1.25B.

Thanks to the earnings news and share buyback, HRB jumped $6.03 to close at $45.47. Shares also touched an intraday 52-week high of $45.72.

Notable New Low

Sanofi ( SNY ) and GSK ( GSK ) both touched new 52-week lows, extending a retreat seen by COVID vaccine makers since the release of disappointing Q2 results from rival Novavax.

SNY finished at $45.20, a decline of $3.46. During the session, the stock touched an intraday 52-week low of $43.20. This added to weakness seen over the last couple days, spurred lower by the release of weak results and guidance from NVX.

GSK, SNY's COVID vaccine partner, slumped to a 52-week low of $37.78. Shares trimmed their losses by the close, but the stock still ended at $38.30, a decline of $1.73 on the day.

Looking long-term, SNY saw gains at times during 2022 but is now showing a decline of about 11% for the year as a whole. GSK has lost about 14% of its value since the end of 2021.

For more of the day's biggest winners and losers, head over to Seeking Alpha's On The Move section .

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