U.S. stocks were higher, with the Dow Jones jumping over 150 points on Friday.

Shares of Skechers U.S.A., Inc. (NYSE:SKX) rose sharply during Friday's session after the company reported better-than-expected first-quarter FY24 earnings.

Skechers reported first-quarter FY24 sales growth of 12.5% year-on-year to $2.251 billion, beating the analyst consensus estimate of $2.204 billion. EPS of $1.33 beat the analyst consensus of $1.10, according to data from Benzinga Pro.

Skechers raised FY24 sales outlook from $8.60 billion-$8.80 billion to $8.725 billion-$8.875 billion, against an estimate of $8.781 billion. The company also raised FY24 EPS outlook from $3.65-$3.85 to $3.95-4.10 versus an estimate of $3.90.

Skechers U...