Five Chinese Firms Dominate Friday’s Top 10 Gainers

2. Celsius Holdings Inc. (NASDAQ:CELH)

Celsius Holdings jumped by 27.77 percent on Friday to finish at $32.62 apiece as investors gobbled up shares in the company following twin news of its acquisition of its competitor while earning a rating upgrade from an investment firm.

According to the company, it entered into a definitive agreement to acquire Alani Nutrition LLC for a total transaction of $1.8 billion, which includes taxes amounting to $150 million.

CELH’s acquisition was seen as a strategy to bolster growth. By combining with Alani Nu, the two brands are expected to hold a 16-percent market share in the energy drink sector.

The acquisition is expected to be completed in the second quarter of the year.

Meanwhile, CELH also earned a higher price target from TD Cowen at $30 versus $29 previously. The investment firm, however, maintained a “hold” rating on CELH’s shares.