Ten stocks rallied sharply on Monday, leading the charge on Wall Street, as investor sentiment was primarily bolstered by the US and China’s constructive trade talks ahead of a leaders’ summit this week.
Of the 10 firms, four propelled to new all-time highs, helped by a series of partnerships and stellar trial results, among others.
Meanwhile, the three major indices all finished in the green, led by the tech-heavy Nasdaq, jumping 1.86 percent, followed by the S&P 500, surging 1.23 percent, and the Dow Jones, up 0.71 percent.
In this article, we focus on the 10 top performers on Monday and detail the reasons behind their gains.
To come up with the list, we focused on companies with more than $2 billion in market capitalization and 5 million shares in trading volume.
The New York Stock Exchange building. Photo by Дмитрий Трепольский on Pexels
10. Qualcomm Inc. (NASDAQ:QCOM)
Qualcomm shares propelled to a new all-time high on Monday, as investors took heart from a partnership with a Riyadh-based startup to support the development of artificial intelligence (AI) in Saudi Arabia.
During the session, Qualcomm Inc. (NASDAQ:QCOM) surged to as high as $205.55, or a 21.67 percent jump, before paring gains to end the day just up by 11.09 percent at $187.68 apiece.
This followed announcements that it joined forces with Humain, a global AI end-to-end value-chain provider, under which Qualcomm Inc. (NASDAQ:QCOM) would supply 200 MW of AI200 and AI250 rack solutions to Humain beginning 2026.
According to Qualcomm Inc. (NASDAQ:QCOM), the AI200 and AI250 solutions are capable of delivering rack-scale performance and superior memory capacity for fast generative AI inference, and support Saudi Arabia’s commitment to driving innovation and economic growth through the development of its AI and semiconductor ecosystem.
“This collaboration unites HUMAIN’s deep regional insight and unique full AI stack capabilities with Qualcomm’s unmatched semiconductors technology and product leadership. Together, we will enable Saudi Arabia to lead the next wave of global AI and semiconductors innovation,” Humain CEO Tareq Amin said.
9. Janus Henderson Group plc (NYSE:JHG)
Janus Henderson soared to a fresh record high on Monday, as investors gobbled up shares following announcements that it was offered to be fully acquired by two of its largest investors for $7.2 billion.
In intra-day trading, Janus Henderson Group plc (NYSE:JHG) jumped to its highest 52-week price of $49.42 before trimming gains to end the day just up by 11.34 percent at $46.35 apiece.
In a statement earlier in the day, Janus Henderson Group plc (NYSE:JHG) said it received a joint letter from Trian Fund Management LP and General Catalyst Group Management LLC outlining a joint non-binding acquisition proposal, under which, they offered to acquire the remaining stake in the former for $46 apiece. The acquisition price marked a 10.5 percent upside from its latest closing price.
Trian first invested in the company in 2020 and currently holds two board seats.
According to Janus Henderson Group plc (NYSE:JHG), the special committee excludes board members affiliated with the acquiring companies, and that an acquisition deal is not guaranteed.
8. Lumen Technologies, Inc. (NYSE:LUMN)
Lumen Technologies extended its winning streak to a third straight day on Monday, jumping 15.7 percent to close at $9.36 apiece as investors cheered a new milestone that its on-demand services are now present in 10 million new business locations across the US.
In a statement during the day, Lumen Technologies, Inc. (NYSE:LUMN) said that its on-demand service enabled high performance connectivity to businesses within minutes, including office buildings and data centers. One of its largest customers include Xcel Energy—a US regulated distribution utility firm in Minneapolis, Minnesota.
Lumen Technologies, Inc. (NYSE:LUMN) said its on-demand service delivers adjustable, pay-as-you-go connectivity which can be scaled up or down within minutes depending on their requirements, whether due to a traffic surge, seasonal demand, or a new service rollout. It allows businesses to spin up or scale connectivity in minutes, choose from flexible bandwidth tiers, add static or dynamic routing options and security features, like Lumen Defender, and pay hourly for what they use.
Lumen Technologies, Inc. (NYSE:LUMN) said the service supports a true cloud-like internet experience with the same speed, reliability and low-latency performance network, giving customers control over how they consume connectivity.
7. BridgeBio Pharma, Inc. (NASDAQ:BBIO)
BridgeBio rallied for a third straight day on Monday to hit a new all-time high as investors snapped up shares following the stellar results of its final clinical trial for the study of BBP-418 in patients with a rare genetic condition that causes muscles to weaken, affects breathing problems, and causes heart issues.
In intra-day trading, the stock surged to its highest price of $65 before trimming gains to end the day just up by 17.14 percent at $63.56 apiece.
In a statement, BridgeBio Pharma, Inc. (NASDAQ:BBIO) said its drug candidate, BBP-418, showed major improvements in muscle and lung function in patients during the phase 3 clinical trial.
Among the salient results are the restoration of a key muscle protein often missing in individuals with the said disease and enabling patients to walk faster and have a better lung capacity, as compared with those who took the placebo.
BridgeBio Pharma, Inc. (NASDAQ:BBIO) added that BBP-418 was well-tolerated with no major safety findings observed.
Following the results, BridgeBio Pharma, Inc. (NASDAQ:BBIO) is set to meet with the Food and Drug Administration by the end of the year to discuss the data. A New Drug Application is targeted for submission within the first half of 2026.
6. Vista Energy SAB de CV (NYSE:VIST)
Vista Energy extended its winning streak to a fourth consecutive day on Monday, jumping 18.66 percent to close at $47.50 apiece as investors took path from JP Morgan’s price target upgrade and maintained bullish rating for its stock.
In a market note on Monday, JP Morgan raised its price target for Vista Energy SAB de CV (NYSE:VIST) to $56 from $50 previously—more than a week after cutting the figure from $57 to $50—while maintaining a “buy” recommendation for its stock.
The revision followed the company’s stellar earnings and production performance for the third quarter of the year, having jumped by 91 percent and 73 percent, respectively.
In its financial statement, Vista Energy SAB de CV (NYSE:VIST) said net income jumped to $315 million in the third quarter of the year from $165 million in the same period last year. Revenues increased by 52.8 percent to $706 million from $462 million year-on-year on the back of higher oil production and a sequential jump in oil prices.
During the quarter, Vista Energy SAB de CV (NYSE:VIST) said oil production increased to 109,677 barrels per day (bbpd) from only 63,499 bbpd in the same period last year, but crude oil prices dropped by 5 percent to an average of $64.6 per barrel year-on-year.
5. YPF Sociedad Anonima (NYSE:YPF)
YPF Sociedad extended its winning streak to a 4th consecutive day on Monday, jumping 23.78 percent to close at $33.36 apiece following reports that it was in talks with the overseas unit of Abu Dhabi National Oil Company, XRG, for a potential investment in its large-scale liquefied natural gas (LNG) project.
According to a report by Bloomberg citing sources privy to the matter, XRG is eyeing a stake in the project as it seeks to expand its LNG portfolio in Latin America, the US, and Asia. However, a deal is not yet guaranteed as it could still fall through.
State-run YPF Sociedad Anonima (NYSE:YPF), in partnership with Shell Plc and Eni SpA, is underway with the development of the floating terminal in support of Argentina’s growing energy demand, while taking advantage of the vast resources in the Vaca Muerta shale basin.
Upon construction, the project is expected to produce 28 million tons of LNG annually.
Apart from the large-scale development, YPF Sociedad Anonima (NYSE:YPF) is also planning to pursue another smaller project involving a consortium of gas producers alongside FLNG provider, Golar LNG Ltd.
4. Grupo Financiero Galicia SA (NASDAQ:GGAL)
Grupo Financiero extended gains for a 5th consecutive day on Monday, jumping 38.70 percent to close at $49.14 apiece and mimicking a sharp rally in Argentine markets following the landslide victory of incumbent president Javier Milei.
Milei pulled off a surprisingly strong victory during the country’s midterm elections, allaying fears that a new administration would again put the Argentine economy into jeopardy, especially as the US government had already unusually intervened by acquiring a significant chunk of the peso to push its value higher.
Earlier, President Donald Trump said that the US would pull away if Milei did not do well in the elections.
Elections aside, Grupo Financiero Galicia SA (NASDAQ:GGAL) late last week earned a price target downgrade of $46 from JP Morgan, alongside a “hold” rating.
Additionally, the group announced the appointment of Diego Hernan Rivas as the new chief executive officer (CEO) of its banking subsidiary, Banco de Galicia y Buenos Aires SA, who is expected to lead and help steer the bank’s strategy amid the ongoing Argentine economic crisis.
3. Banco BBVA Argentina SA (NYSE:BBAR)
Banco BBVA Argentina SA (NYSE:BBAR) jumped by 40.75 percent on Monday to close at $14.23 apiece, mirroring a sharp rally in the Argentine markets after incumbent president Javier Milei’s landslide victory in the midterm elections.
The victory was primarily attributed to US President Donald Trump’s threat earlier that the US government would pull away if he did not do well in the elections.
The threat followed the Trump administration’s earlier financial bailout that involved the acquisition of a significant chunk of the Argentine peso to help push its value higher and support the ailing economy.
Banco BBVA Argentina SA (NYSE:BBAR) also rallied alongside its US-listed counterparts, Grupo Financiero Galicia SA and Banco Macro SA, following the news.
Founded in 1857, Banco BBVA Argentina SA (NYSE:BBAR) is a global financial institution with operations in more than 25 countries across North and South America, Europe, and the Asia Pacific.
2. Dyne Therapeutics, Inc. (NASDAQ:DYN)
Dyne Therapeutics soared by 41.18 percent on Monday to close at $24.17 apiece following a comment from investment firm Jefferies that it would likewise benefit from Novartis’ $12 billion planned acquisition of its peer, Avidity Biosciences.
In a statement over the weekend, Novartis announced that it would acquire shares of Avidity at a price of $72 apiece, representing a 46 percent upside from its closing price on October 24.
“We view DYN as a prime beneficiary of Novartis’ move into RNA therapeutics,” Jefferies said in its market note.
It also issued a “buy” recommendation for Dyne Therapeutics, Inc. (NASDAQ:DYN) at a price of $50, marking a 107 percent upside potential from its latest closing price.
Additionally, Jefferies said the upgrade was based on the belief that Dyne Therapeutics, Inc. (NASDAQ:DYN) trades at a “cheap” $2.4 billion market capitalization despite potentially first-to-market assets and a $4.5–6 billion implied valuation.
Both Dyne Therapeutics, Inc. (NASDAQ:DYN) and Avidity are engaged in the development of therapies for neuromuscular diseases such as DM1 (myotonic dystrophy type 1), DMD (Duchenne muscular dystrophy), and FSHD (facioscapulohumeral muscular dystrophy).
1. Avidity Biosciences, Inc. (NASDAQ:RNA)
Shares of Avidity rallied to a new all-time high on Monday, as investors gobbled up shares following confirmation that it was set to merge with Novartis for a transaction worth $12 billion.
In intra-day trading, Avidity Biosciences, Inc. (NASDAQ:RNA) soared to as high as $70.38 before paring gains to end the day just up by 42.42 percent at $70 apiece.
In a statement over the weekend, Novartis said that it entered into an agreement with Avidity Biosciences, Inc. (NASDAQ:RNA) to acquire the latter at a price of $72 apiece, as it seeks to strengthen its neuroscience franchise. The acquisition will be made under Novartis’ newly formed subsidiary.
Prior to the closing of the merger, Avidity Biosciences, Inc. (NASDAQ:RNA) will transfer all early-stage precision cardiology programs and existing collaborations to its wholly owned subsidiary SpinCo.
The transfer will also include certain Avidity assets. One of its existing partners will get the first chance to negotiate the said assets before anyone else.
Meanwhile, shareholders will receive one share of SpinCo for every 10 RNA shares they own, or receive cash if Avidity chooses to sell SpinCo to another company.
Novartis and Avidity Biosciences, Inc. (NASDAQ:RNA) expect the merger to close in the first half of 2026. Until closing, they will continue to operate as separate and independent companies.
While we acknowledge the potential of RNA to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than RNA and that has 100x upside potential, check out our report about this cheapest AI stock.
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