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.
8. Kingsoft Cloud Holdings Ltd. (NASDAQ:KC)
Kingsoft shares grew for a fourth day on Thursday, jumping 11.47 percent to finish at $17.4 apiece as investors snapped up shares in the company fueled by optimism over its potential benefit from Xioami’s recent poaching of one of DeepSeek’s top developers.
Earlier this week, Xiaomi, a company also chaired by Kingsoft’s chairman Lei Jun, poached DeepSeek developer Luo Fuli to join Xiaomi’s Artificial Intelligence development team.
The news boosted investor sentiment on hopes that any AI development in Xiaomi will create a ripple effect on Kingsoft’s business in cloud computing.
Luo Fuli is poised to take on a leadership role in Xiaomi’s large model team. Xiaomi plans to leverage her expertise in developing DeepSeek-V2 to improve the efficiency and user experience of its AI models, further advancing the company’s capabilities in artificial intelligence.
7. Zeta Global Holdings Corp. (NYSE:ZETA)
Zeta Global grew its share prices for a third day, up by 11.61 percent to end Thursday’s trading at $20.96 apiece as investors gobbled up shares ahead of its scheduled fourth-quarter earnings release and a recent upgrade in its stock rating.
Earlier this week, investment banking firm DA Davidson reiterated its “buy” rating and $42 price target for Zeta Global, emphasizing its potential ahead of its earnings call.
DA Davidson analyst Clark Wright underscored Zeta Global as a top pick in the sales and marketing sector amid its undervalued price.
While expectations for the company’s fourth quarter are relatively low, its introduction of financial targets for 2028 is expected to be a key factor for its long-term growth trajectory.
6. Gates Industrial Corp. PLC (NYSE:GTES)
Gates Industrial resumed its winning streak for a third consecutive day, ending Thursday’s trading up by 11.8 percent to finish at $23.22 apiece with analysts pointing to beating earnings per share (EPS) estimates as having buoyed investor sentiment.
In its latest earnings release, Gates Industrial said net income for the fourth quarter of 2024 dived by 40 percent to $41.1 million from the $69.1 million registered in the same period last year, while net profit for the full year 2024 declined by 14 percent to $219.9 million from $256.4 million year-on-year.
Net sales also dipped by 3.9 percent in the said quarter to $829.4 million from $863.3 million year-on-year, while for the full year, net sales decreased by 4.5 percent to $3.4 billion from $3.57 billion.
However, earnings per share stood at $0.36, beating analyst expectations of $0.33 by 9 percent.
5. Peloton Interactive Inc. (NASDAQ:PTON)
Peloton Interactive grew its share prices for a second day, jumping 12.01 percent to finish Thursday’s trading at $8.49 apiece as investors welcomed the company’s improved earnings performance for the second quarter of fiscal year 2025.
In its latest earnings release, Peloton said it trimmed its net loss for the period by 53 percent to $92 million from the $194.9 million registered in the same period a year earlier. Net loss in six months ending December also narrowed by 74 percent to $92.8 million from $354.1 million year-on-year.
Revenues for both periods also registered declines, by 9 percent for the quarter and by 5.9 percent for periods July to December.
Peloton expects even lower revenues for the upcoming quarter—between $605 million and $625 million, as well as for the full year—between $2.43 billion and $2.48 billion.
4. Tapestry Inc. (NYSE:TPR)
Tapestry saw its share prices increase by 12 percent on Thursday to end at $82.2 apiece as investor sentiment was fueled by an optimistic business outlook for 2025.
In a statement, Tapestry said it projects revenues to grow by 3 percent to more than $6.85 billion and earnings per share to jump between 13 to 14 percent to $4.85 to $4.9.
In the fourth quarter of 2024, Tapestry, however, posted a weaker earnings performance, with net income dropping by 3.69 percent to $310.4 million from the $322.3 million reported in the same period last year.
Gross profit increased by 7.38 percent to $1.6 billion from $1.49 billion year-on-year on the back of strong performance from its luxury brand Coach, with a 12.6 percent higher contribution at $697.4 million versus $619.2 million year-on-year.
3. Cemex SAB de CV (NYSE:CX)
Cement manufacturer Cemex grew its share prices by 13.38 percent on Thursday to finish at $6.78 apiece as investors cheered the company’s strong earnings performance last year.
In a statement, Cemex said it achieved a 415-percent surge in net income in full-year 2024 at $939 million versus the $182 million registered in 2023 on the back of a lower effective tax rate coupled with gains from asset divestments. In the fourth quarter alone, Cemex swung to a net profit of $48 million versus a $441 million net loss in the same period a year ago.
Meanwhile, consolidated net sales dipped by 1 percent to $16.2 billion while remaining flat in the fourth quarter as higher prices were offset by lower volumes in the market.
As part of its savings program, Cemex launched what it calls Project Cutting Edge, a $350-million saving initiative for three years that aims to streamline operations and improve efficiency, while heavily leveraging digital technology.
2. Hesai Group (NASDAQ:HSAI)
Shares of Hesai Group surged 21.02 percent on Thursday to end at $16.81 apiece as investors repositioned their portfolios amid optimistic business prospects, fueled by a series of clinched deals with international companies.
Last week alone, Hesai partnered with spatial AI software platform Outsight, and autonomous driving solutions Embotech AG, to deliver cutting-edge lidar technology and perception software for Embotech’s AVM technology deployed in BMW facilities and known internally at BMW as Automated Driving In-Plant (AFW).
Also last month, Hesai secured design wins for multiple Chery models, which are expected to enter mass production in the second half of 2025. Hesai said the new models will be equipped with the newest generation of Hesai’s ultra-compact high-performance ATX lidar.
Hesai Group is a China-based technology company specializing in the development of light detection and ranging (LiDAR) solutions.
1. Tuya Inc. (NYSE:TUYA)
Shares of China-based Tuya Inc. soared by 25.93 percent on Thursday to end at $3.4 apiece as investors cheered news of a collaboration with Chery to create a smart cockpit and accelerate the integration of automotive and home ecosystems.
In a statement, Tuya said the partnership will leverage Tuya’s cutting-edge smart space solutions for passenger vehicles. The collaboration aims to establish an interoperable smart home system across brands, ecosystems, and devices enabling seamless communication between cars, in-car devices, and smart home systems.
For instance, drivers will be able to use a Tuya-enabled App on their car’s infotainment system to control home devices in real-time, such as adjusting lighting, air conditioning, and curtains, before arriving home.
In addition to car-home connectivity, the partnership will expand to include smart living scenarios in real estate, communities, and hospitality.
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READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.
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