S&P 500 top movers: CBRE Group Inc (CBRE stock) jumps more than 13% on upbeat earnings

S&P 500 Index staged a decisive rebound following an early slump.
CBRE Group Inc (CBRE: NYSE) shares post strong gains on Thursday.

Eren Sengezer FXStreet

The S&P 500 Index (SPX) opened in the positive territory but came under modest bearish pressure in the early trade. After dropping to its lowest level in more than a month at 3,259, however, the SPX staged a decisive rebound and was last seen gaining 1.48% on the day at 3,320.

S&P 500 top movers

CBRE Group Inc (CBRE: NYSE) reported quarterly adjusted earnings of 73 cents per share for the quarter ended in September on Thursday and beat analysts' estimate of 42 cents per share. Additionally, the company reported that revenue fell by 4.7% to $5.65 billion, which also surpassed the market expectation of $5.30 billion. Boosted by this development, CBRE is up 13.9% on the day at $50.03 as the top daily percentage gainer on Thursday.

Among the other top performers of the day, Martin Marietta Materials Inc (MLM: NYSE), Twitter Inc (TWTR: NYSE) and Tapestry Inc (TPR: NYSE) shares are up 8%, 8.1% and 7.3%, respectively.

On the other hand, ABIOMED Inc (ABMD: NASDAQ) shares are down 8.t3% on the day at $258 following the earnings summary. eBay Inc (EBAY: NASDAQ) and Fidelity National Information Services Inc (FIS: NYSE) 5.6% and 4.7% are the other biggest losers of the day.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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