Today’s Top Performing Big Cap Stocks Include Micron, Overstock.com, JPMorgan Chase and Others.

Big cap stocks finished neutral Thursday as first-quarter GDP was revised higher and weekly jobless claims fell more than expected, indicating a strong U.S. economy.

These big cap stocks changed direction. Thursday:

Micron Technology (MU) posted a fiscal third-quarter loss that was less than experts predicted. The memory-chip maker forecasted fourth-quarter revenue of around $3.9 billion, plus or minus $200 million, and an adjusted loss of $1.19 per share, plus or minus 7 cents. “We believe that the memory industry has passed its trough in revenue, and we expect margins to improve as industry supply-demand balance is gradually restored,” said Micron CEO Sanjay Mehrotra in a statement.

Piper Sandler analysts upgraded Micron shares to Neutral from Underweight and boosted their price objective to $70 from $45. However, its big cap stocks lost 4.1% to $64.33. The Wall Street Journal reported earlier this week, citing people familiar with the situation, that the Biden administration is considering tightening limits on selling artificial intelligence technology to Chinese consumers.

JPMorgan Chase (JPM) climbed 3.5%, Bank of America (BAC) gained 2.1%, and Wells Fargo (WFC) gained 4.5% after the Federal Reserve’s annual stress test revealed that the U.S. banking sector is healthy. Despite a projected loss of $541 billion in the test’s hypothetical recession, all 23 banks participating this year could keep their minimal capital requirements.

FREYR Battery (FREY) shares increased 20% after Morgan Stanley upgraded the battery cell manufacturer to Overweight from Equal Weight.

Overstock.com (OSTK) shares jumped 20% after the company paid $21.5 million to acquire the Bed Bath & Beyond name and certain intellectual-property assets from the insolvent store.

Virgin Galactic (SPCE) stock fell 11% after the company’s first commercial space trip, Galactic 01, safely launched. Earlier in the day, shares traded higher, but the stock market frequently “buys the rumor and sells the news.” That is exactly what happened during the company’s most recent high-profile launch.

Joby Aviation (JOBY) shares jumped 11% after the commercial-aviation start-up announced a $100 million equity investment from SK Telecom, South Korea’s largest telecoms business.

BlackBerry (BB) announced adjusted earnings of 6 cents per share in the first quarter, topping analysts expectations of a loss of 6 cents. Revenue increased to $373 million in the third quarter, up from $168 million the previous year and above projections of $161.1 million. The security-software developer’s stock rose 7%.

McCormick (MKC) shares fell 5.5% after the spice company reported second-quarter revenues that were somewhat lower than expected. It also boosted its full-year earnings prediction to $2.60 to $2.65 per share, up from $2.56 to $2.61. Earnings per share are expected to be $2.65.

Snowflake (SNOW) shares fell 4.4% to $175.76 despite Barclays raising its price estimate for the software business, which allows users to remotely store and analyze vast amounts of data in the cloud, to $203 from $165.