10 Stocks Jump on Impressive Earnings, Bullish Outlooks

3. Grab Holdings Ltd. (NASDAQ:GRAB)

Transport network company Grab Holdings saw its share prices surge by 12.56 percent on Tuesday to end at $5.11 apiece following twin news that the company was taking over one of its competitors while also earning an upgraded outlook from an investment banking firm.

According to reports on Tuesday, Grab is in negotiations with its rival GoTo for a potential takeover of the latter for $7 billion as the latter suffers from losses.

A new round of merger talks was said to have occurred in December 2024, with the two parties eager to officially strike a deal this year.

A report by Reuters citing sources privy to the matter said that an agreement could still be axed as previous negotiations all fell through.

On the same day, HSBC upgraded its rating on Grab to “buy” from “hold” previously, in hopes that Grab’s on-demand gross merchandise value will grow at a compounded annual growth rate of 14 percent until 2026.