Ten stocks kicked off the first trading day of the month boasting strong gains, as investors priced in strong corporate earnings and an upbeat outlook.
On Wall Street, all major indices finished in the green, led by the Dow Jones up by 1.05 percent, followed by the Nasdaq, jumping 0.56 percent, and the S&P 500 rallying 0.54 percent.
In this article, we spotlight the 10 top-performing stocks on Monday and break down the reasons behind their gains.
To come up with the list, we focused exclusively on stocks with more than $2 billion in market capitalization.
Photo by Tima Miroshnichenko on Pexels
10. Corning Inc. (NYSE:GLW)
Corning rallied for a second day on Monday, jumping 6.87 percent to close at $110.35 apiece, as investors bet on President Donald Trump’s $12 billion rare earths stockpile project as a huge catalyst for the company’s sustained expansion.
Called the Project Vault, the US would create a stockpile of rare earth minerals critical to the production of various industries such as semiconductors, automotive, gadgets, batteries, electric cars, and military applications, among others.
Under the project, companies that have pledged to buy materials at a specific inventory will pay upfront fees and provide Project Vault a list of their preferred materials, and they will also agree to repurchase the same amount at the same price in the future.
According to a report by Bloomberg, Corning Inc. (NYSE:GLW) alongside companies such as General Motors, Stellantis, Boeing, GE Vernova, and Google, has already signed up for the project.
The news followed Corning Inc.’s (NYSE:GLW) $6 billion deal with Meta Platforms Inc. last week, under which it would supply the latter with fiber optic cables for its data centers.
Also last week,Corning Inc. (NYSE:GLW) reported a 215 percent jump in its attributable net income at $1.596 billion, versus $506 million in the same period last year. Net sales jumped by 19 percent to $15.6 billion from $13.1 billion year-on-year.
In the first quarter of 2026, the company is looking to register a 15 percent jump in core sales at $4.2 billion to $4.3 billion.
9. Wipro Ltd. (NYSE:WIT)
Wipro snapped a three-day losing streak on Monday, jumping 6.75 percent to close at $2.69 apiece as investors repositioned portfolios following the launch of a new AI-powered operating model to support operations of its enterprise customers.
Called Wipro Intelligence, Wipro Ltd. (NYSE:WIT) said that the new product would combine advisory, AI, and enterprise transformation services and would bring end-to-end accountability across core functional areas namely people and change, supply chain and operations, finance transformation, as well as sales, marketing, and customer experience.
“Enterprises today are struggling to modernize operations amid outdated models and stalled transformation efforts, with AI hype that isn’t translating into results and consulting-to-execution journeys that remain fragmented and slow,” said Wipro Ltd. (NYSE:WIT) Managing Partner and Consulting Head Amit Kumar.
“By bringing our functional consulting expertise together with business process services, we are providing clients with a persona-based, end-to-end enterprise transformation strategy anchored in a functional context. This holistic strategy-to-execution journey allows clients to realize measurable value faster and generate real impact from AI initiatives,” he added.
Based in Bengaluru, Wipro Ltd. (NYSE:WIT) is one of the largest technology service providers in India, which also supports businesses across 65 countries.
8. Knight-Swift Transportation Holdings Inc. (NYSE:KNX)
Knight-Swift saw its share prices jump by 7.37 percent on Monday to close at $59.16 apiece, as investors welcomed the appointment of a new president to support growth and recovery, as the company navigates a challenging market environment.
In a statement, Knight-Swift Transportation Holdings Inc. (NYSE:KNX) named Joe Vitiritto as its new president effective on the same day, February 2.
Prior to his leadership role, Vitiritto has already worked for the group between 2003 and 2020 where he held a variety of operational leadership roles across the organization, until leaving to assume the role of president and CEO for Pam Transport.
Vitiritto’s appointment followed the company’s announcement of a dismal earnings performance last quarter, after swinging to a $6.8 million attributable net loss from a $69.5 million attributable net income in the same period a year earlier.
Total revenues dipped by 0.4 percent to $1.856 billion from $1.86 billion year-on-year.
“The truckload market saw demand that was generally stable, with seasonal project activity occurring in October. The seasonal projects wound down quickly in November, and the lack of the typical broad-based seasonal lift in demand until late in the quarter led to lower truckload volumes than expected. While the spot market tightened in December, pressuring gross margins in the logistics space, it was a reduction in available capacity that seemed to be the primary driver of the tightening market,” Knight-Swift Transportation Holdings Inc. (NYSE:KNX) CEO Adam Miller said.
7. Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH)
Norwegian Cruise rallied by 7.65 percent on Monday to close at $23.64 apiece as investors took heart from a record-breaking customer demand for its subsidiary’s newly launched ship, Oceania Sonata.
In a statement, Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) said that Sonata, operated and owned by its subsidiary, Oceania Cruises, exceeded the launch day booking record of its predecessor, Allura, by 45 percent.
Of all room categories, the suite type received the highest demand, prompting Oceania Cruises to upsize the allocation of high-yielding accommodations from the previous class of new ships.
Sonata is set to start sailing in August 2027, followed by three others in 2029, 2032, and 2035.
Sonata aside, Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) recently unveiled the newest and largest addition to its fleet, the Norwegian Aura, which is said to be 10 times larger than its predecessors, Aqua and Luna. It would be capable of accommodating 3,840 guests. The ship is currently being developed by Italian shipbuilder Fincantieri and is targeted to begin sailing in May next year.
Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) is expected to release its earnings results on February 27, based on its historical earnings reporting dates.
For the fourth quarter, the company is targeting to book adjusted net income of $1.045 billion, with earnings per share of $2.10. Adjusted EBITDA, on the other hand, is projected at $2.72 billion.
6. Western Digital Corp. (NASDAQ:WDC)
Western Digital snapped a two-day losing streak on Monday, jumping 8 percent to close at $270.23 apiece as investors repositioned portfolios ahead of expected business updates tomorrow, February 3.
The company is set to hold an event called Innovation Day on the said date, where it is expected to highlight key innovations designed to support the growing demand for data storage in the AI-driven data economy.
The Innovation Day followed last week’s release of Western Digital Corp.’s (NASDAQ:WDC) earnings performance for the second quarter of fiscal year 2026, with net income surging by 210 percent to $1.8 billion from only $594 million in the same period a year earlier. Revenues jumped by 25 percent to $3.017 billion from $2.4 billion year-on-year.
Western Digital Corp. (NASDAQ:WDC) attributed the growth to its disciplined execution to meet demand in the AI-driven data economy, alongside strong customer demand in its high-capacity hard-disk drives.
Following the strong results, Western Digital Corp. (NASDAQ:WDC) issued a higher outlook across key growth metrics, including a revenue target of $3.2 billion, plus or minus $100 million, or an implied growth of 40 percent from the $2.29 billion registered in the same quarter a year earlier.
Diluted earnings per share are projected at $2.30, plus or minus $0.15, or 9 percent higher than the $2.11 registered year-on-year.
5. Lumentum Holdings Inc. (NASDAQ:LITE)
Lumentum Holdings rallied for a second day on Monday, jumping 8.06 percent to close at $423.42 apiece as investors loaded portfolios ahead of its earnings outcome which came out shortly after market close.
Earlier, Lumentum Holdings Inc. (NASDAQ:LITE) announced expectations of $630 million to $670 million in net revenues, as well as $1.30 to $1.50 diluted earnings per share for the second quarter ending December 31.
Prior to the results, Lumentum Holdings Inc. (NASDAQ:LITE) on Friday received a 15 percent price target upgrade from Morgan Stanley, at $350 versus $304 previously. However, it maintained an “equal weight” rating for its stock.
Apart from Morgan Stanley, Lumentum Holdings Inc. (NASDAQ:LITE) also received higher price targets from investment companies Citigroup and Stifel.
Citigroup, for its part, upgraded the stock by 87 percent to $450 from $240, while maintaining its “buy” recommendation.
Stifel, on the other hand, issued a $400 price target, double the $200 it targeted earlier, while reaffirming a “buy” issuance, on expectations that agentic AI and reasoning networks would lead to a step-function increase in networking intensity.
4. Carnival Corporation & plc (NYSE:CCL)
Carnival Corp. soared by 8.09 percent on Monday to nearly touch its 52-week high, as investors increased their positions ahead of a dividend payment while digesting an optimistic outlook for the cruise sector this year.
Common shareholders as of February 13 record are set to receive $0.15 worth of dividends for every unit they own on Feb. 27, 2026.
“This decision highlights confidence in our future performance and continued commitment to delivering value to shareholders,” Carnival Corporation & PLC (NYSE:CCL) CFO David Bernstein said earlier.
Meanwhile, the strong earnings performance and highly optimistic outlook from its competitor, Royal Caribbean Group, continued to spill over to Carnival Corporation & plc (NYSE:CCL) and its peers.
Last week, Royal Caribbean said that it grew its attributable net income 48 percent to $4.27 billion in full-year 2025, with revenues of $17.9 billion, or 8.5 percent higher year-on-year. Investors took the robust figures as a cue about how the cruise industry performed during the quarter.
Meanwhile, Carnival Corporation & PLC (NYSE:CCL) told the Securities and Exchange Commission that it is set to unify its two companies into one, alongside their listed shares on the London and New York Stock Exchanges.
It would make Carnival Corp. the main company and have Carnival PLC become a wholly-owned subsidiary, which would then create one single stock for all shareholders.
The firm’s shares are currently traded under the ticker symbols CCL and CUK.
It expects to secure shareholder approval for the plan on April 17, 2026.
3. GameStop Corp. (NYSE:GME)
GameStop grew its share prices by 8.25 percent on Monday to finish at $25.85 apiece as investor sentiment was bolstered by a billion-dollar acquisition program which it expects would support its ambition to becoming a $100-billion entity.
In an interview with CNBC last week, GameStop Corp. (NYSE:GME) CEO Ryan Cohen said that the firm would acquire a very big company, which could be either genius or totally foolish. He did not divulge further details about the firm.
Cohen added that the planned acquisition is going to be “transformational not just for Gamestop, but ultimately, within the capital markets.”
“This is something that really has never been done before within the history of the capital markets,” he noted.
GameStop Corp.’s (NYSE:GME) ambition followed an equity incentive program for Cohen in January that will only pay out if it reaches a $100 billion in market capitalization and earnings before interest, tax, depreciation and amortization of $10 billion.
Cohen took over as chief in September 2023 and has since been successful in cutting costs and growing GameStop Corp.’s (NYSE:GME) profitability.
In the third quarter last year, the company grew its net income by 343 percent to $77.1 million from only $17.4 million in the same period in 2024, bringing its nine-month tally to $290.5 million versus none year-on-year.
2. JetBlue Airways Corporation (NASDAQ:JBLU)
JetBlue soared by 8.21 percent on Monday to close at $5.27 apiece as investors took path from an investment firm’s higher price targets for its stock.
In a market report, TD Cowen reiterated its “hold” rating and $5 price target for JetBlue Airways Corporation (NASDAQ:JBLU), on optimism for capacity growth, its Blue Sky partnership with United Airlines, higher premium cardholders and the rollout of domestic first-class seating in the second half of the year.
Apart from TD Cowen, JetBlue Airways Corporation (NASDAQ:JBLU) also received a higher price target of $6 from Evercore ISI, versus $5 previously.
In other news, JetBlue Airways Corporation (NASDAQ:JBLU) registered a 302 percent jump in net loss in the fourth quarter of 2025, at $177 million versus $44 million in the same period a year earlier. Total operating revenues dipped by 1.44 percent to $2.244 billion from $2.277 billion year-on-year.
In the full-year period, net loss narrowed by 24 percent to $602 million from $795 million in 2024, while total revenues decreased by 2.3 percent to $9.06 billion from $9.28 billion.
1. Sandisk Corporation (NASDAQ:SNDK)
Sandisk extended its winning streak to a fifth straight day on Monday, adding 15.44 percent to close at $665.24 apiece, as investors took heart from an investment firm’s 72 percent price target upgrade for its stock.
In an updated report, Bernstein raised its price target for Sandisk Corporation (NASDAQ:SNDK) to $1,000 from $580 previously, reflecting a 50 percent upside potential from its latest closing price. It also reaffirmed an “outperform” rating for its stock.
The coverage followed the company’s 672 percent net income expansion in the second quarter of fiscal year 2026, at $803 million from only $104 million in the same period last year, while operating income climbed by 446 percent to $1.065 billion from $195 million.
Revenues, on the other hand, rose by 61 percent to $3.025 billion from $1.876 billion, with the bulk owed to the Edge segment at $1.678 billion, followed by consumer at $907 million, and data center at $440 million.
Data center revenues alone were driven by the strong adoption among AI infrastructure developers, semi-custom customers, and technology companies deploying AI at scale.
For the third quarter of the year, revenues are targeted at a range of $4.4 billion to $4.8 billion, or an implied expansion of 159 percent to 183 percent from the $1.695 billion reported in the same period a year earlier. Gross margins are expected to be at 64.9 percent to 66.9 percent.
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