10 Firms End Trading Week Defying Market Bloodbath

A wave of selling gripped Wall Street this Friday, pushing major indices lower as investors shifted capital towards more attractive investment opportunities.

Ten companies bucked an overall bearish market sentiment, booking significant gains during the last trading day of the week. Let’s explore how they managed to buck the trend and what factors contributed to their remarkable performance amidst widespread market uncertainty.

10. Mondelez International Inc. (MDLZ)

Shares of Mondelez International (MDLZ), a leading snacks company globally eked out a 0.60-percent gain on Friday to finish at $60.21 apiece.

Analysts said that investors placed buying positions on its shares while remaining in a wait-and-see mode over reports that it was set to acquire chocolate manufacturing giant Hershey Co.

According to a report from Bloomberg, Mondelez is re-exploring plans to acquire Hershey, in a potential deal that would create a combined turnover of $50 billion.

Mondelez has already indicated interest in purchasing Hershey twice, the first one being in 2016 when the chocolate manufacturer turned down the offer for $23 billion.

With Hershey’s current market value of almost $40 billion, including debt, a potential acquisition would rank among the year’s largest transactions.

9. Teva Pharmaceutical Industries Ltd (TEVA)

Shares of Teva Pharmaceutical (TEVA) grew by 0.66 percent on Friday to finish at $22.77 apiece, as investors snapped up on shares following news that the company’s Duvakitug drug, developed with its French counterpart Sanofi, met its primary goals of treating ulcerative colitis and Crohn’s disease.

Last year, the two firms announced a partnership to develop treatments for inflammatory bowel disease (IBD), with hopes that the drug could achieve a blockbuster status and generate at least $1 billion in annual sales.

Citing technical indicators, analysts said that Teva’s current valuation is already on overbought levels after hitting a new 52-week high.

Year-to-date, Teva’s shares marked a whopping 113-percent jump from only $10.67 apiece on January 2.