SRG - Hot Stocks: UPST plunges on warning; SRG skyrockets 80%; GBX slips ahead of earnings; HRB sets high

Stocks finished Friday's session with a mixed performance, as investors responded to the latest jobs data with uncertainty. The S&P 500 broke a four-session winning streak with a slight retreat, while the Nasdaq notched its fifth consecutive day of gains.

While the major averages generally held near the flat line, Seritage Growth Properties ( SRG ) experienced a massive surge during the session. Shares skyrocketed on a proposed plan to sell the firm's assets and distribute the proceeds to shareholders.

Meanwhile, H&R Block ( HRB ) continued its recent upward momentum. The stock, which has climbed more than 50% in less than two months, set another 52-week high.

Looking at some of the day's standout decliners, Upstart ( NASDAQ: UPST ) plunged after it warned that its quarterly results would fall short of expectations. Meanwhile, Greenbrier ( GBX ) reached a 52-week low ahead of earnings news due out next week.

Standout Gainer

The release of details surrounding a proposed plan to sell the company sent Seritage Growth Properties ( SRG ) sharply higher. The stock jumped 80% amid the filing of proxy materials ahead of its 2022 shareholders' meeting.

The materials included a recommendation from SRG's board that shareholders approve a proposed plan of sale of the firm's assets, as well as a dissolution. Under the proposal, the real estate investment trust would sell its assets and distribute proceeds to shareholders, dissolving the firm in the process.

SRG finished Friday's trading at $10.96, an advance of $4.89 on the session. This represented its highest close since April, coming off a 52-week low of $4.90 set in late June.

Standout Loser

Upstart ( UPST ) suffered a wave of selling after the company warned that its Q2 loss would be wider than it previously thought. Shares plunged 20% on the day.

The AI lending platform said it now expects a Q2 loss of $27M to $31M. Previously, the firm saw a bottom-line figure between breakeven and a loss of $4M.

UPST blamed the results on a "funding constrained" marketplace and the rise in interest rates, which negatively impacted its revenue as it looked to convert loans on its balance sheet into cash.

Based on the warning, UPST dropped $6.65 to finish the session at $27.09. Shares have fallen nearly 32% in the past month and more than 80% so far in 2022.

Notable New High

H&R Block ( HRB ) extended an upswing that began with the release of its last earnings release in May. Shares climbed another 2% on Friday to reach a fresh 52-week high.

HRB ended the session at $37.27 after touching an intraday 52-week high of $37.65. The closing price represented an 82-cent advance compared to the previous day's finish.

Shares jumped nearly 20% after releasing a better-than-expected earnings report in the first half of May. The upward momentum has continued over the last several weeks, with the stock now 57% higher since its closing price the day before the last quarterly release.

Notable New Low

Headed into its quarterly earnings report, set for release early next week, Greenbrier ( GBX ) added to a long-standing downtrend, falling 4% on Friday to record another 52-week low.

The maker of marine barges and freight railcars is scheduled to announce its latest financial figures on Monday. Analysts expect the firm's profit to drop nearly 15% from last year, even as its revenue is projected to surge.

The stock reached a 52-week high of $53.46 in late March but has steadily lost ground since. In Friday's trading, shares fell $1.44 to close at $32.62. GBX also recorded an intraday 52-week low of $32.29.

With the latest retreat, GBX has now fallen about 40% since hitting its peak.

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