Impressive Earnings, Fresh Deals Propel Prices of These 10 Firms

Wall Street’s main indices ended mixed on Thursday, with the Dow Jones the sole decliner, losing 0.28 percent.

In contrast, both the S&P 500 and the Nasdaq Composite registered gains, rising by 0.36 percent and 0.51 percent, respectively.

Amid the earnings season, 10 companies saw significant increases in their valuations, thanks to stronger-than-expected earnings reports. Additionally, several firms enjoyed rallies fueled by newly secured deals.

In this article, we detailed the reasons behind the 10 companies’ impressive performance.

To come up with Thursday’s biggest advancers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

Stock market data. Photo by Jakub Zerdzicki on Pexels

10. ArcelorMittal SA (NYSE:MT)

Shares of ArcelorMittal resumed a three-day winning streak on Thursday, jumping 11.19 percent to close at $28.33 apiece, as investor sentiment was fueled by a strong performance in the full year 2024.

In its latest earnings release, ArcelorMittal said it achieved a 45.7-percent increase in attributable net income in the full year at $1.339 billion versus the $919 million registered in 2023, despite an 8-percent decline in revenues at $62.441 billion versus $68.275 billion.

The company, however, turned to a net loss of $390 million during the quarter, reversing a $287 million net profit in the same period a year ago on the back of lower operating income, higher foreign exchange losses, and financing costs.

For this year, ArcelorMittal said it expects stronger demand and restocking activity for its products, especially as it sees low inventory levels in its markets, particularly Europe.

To support this, ArcelorMittal budgeted between $4.5 billion to $5 billion to be used for strategic growth projects as well as those related to decarbonization.

9. Coherent Corp. (NYSE:COHR)

Coherent Corp. shares rallied for a third consecutive day on Thursday, adding another 11.5 percent to its valuation to close at $100.46 apiece after an investment research firm posted an optimistic outlook for the company.

In a report, Needham & Company raised its price target for Coherent to $125 from $120 previously, while maintaining a “buy” rating on the stock on the back of its strong fourth-quarter earnings attributed to its AI-related Datacom transceiver business and improved demand in telecom vertical.

In its latest earnings release, Coherent said it swung to a net income of $103 million for the second quarter of fiscal year 2025, reversing a $27 million net loss in the same period a year earlier.

It also booked a net income of $129.3 million in six months ending December 2024, versus a $94.5 million net loss in the same period year-on-year.