10 Double-Digit Winners You Wish You Bought Yesterday

Ten shares soared by double digits week-on-week, outperforming a lackluster performance on Wall Street, thanks to a flurry of catalysts that perked up buying appetite. Notably, some of the companies were buoyed by news of financial backing to support growth.

Meanwhile, the Dow Jones was up by 1.7 percent week-on-week, the S&P 500 grew by 0.94 percent, and the tech-heavy Nasdaq rose by 0.8 percent.

In this article, we focus on last week’s 10 top performers and break down the reasons behind their gains.

To compile the list, we focused exclusively on stocks with $2 billion in market capitalization and at least 5 million shares in trading volume.

Stock market charts. Photo by Kaboompics.com on Pexels

10. Bloom Energy Corp. (NYSE:BE)

Bloom Energy saw its share prices grow by 23.04 percent week-on-week, as investors took path from cues of more supply deals with other companies.

This followed an interview with Bloomberg last Wednesday, where Bloom Energy Corp. (NYSE:BE) CEO KR Sridhar hinted at similar deals “coming soon” after a recently inked supply agreement with Oracle Corp.

Under the deal with the latter, Bloom Energy Corp. (NYSE:BE) will deliver fuel cell technology to select Oracle Cloud Infrastructure (OCI) data centers in the US to support the growing demand for its cloud computing services. Details about expected revenues and supply volume have not been disclosed.

In line with the booming artificial intelligence industry, Bloom Energy Corp. (NYSE:BE) was targeting to double its total capacity to 2 GW by the end of 2026 from 1 GW at present. Of the 1 GW, more than half is currently supplied to critical data centers.

In the second quarter of the year, Bloom Energy Corp. (NYSE:BE) narrowed its net loss attributable to shareholders by 31 percent to $42.6 million from $61.8 million in the same period last year. Revenues grew by 19.5 percent to $401.2 million from $335.8 million year-on-year.

9. Intel Corp. (NASDAQ:INTC)

Shares of Intel Corp. jumped by 23.1 percent week-on-week as investors took heart from the US government’s potential financial backing in a bid to support the long beleaguered chipmaker.

After taking a swipe at Intel Corp. (NASDAQ:INTC) earlier this month, calling the company’s CEO, Lip-Bu Tan, to resign immediately, President Donald Trump appeared to have taken a U-turn following a meeting, saying it was “a very interesting one.”

“His success and rise is an amazing story,” Trump said about Tan.

Reportedly, the US government was ready to provide support to the chipmaker by acquiring a significant stake in its stock.

Citing people familiar with the matter, Bloomberg said the government was considering tapping funds from the 2022 CHIPS Act.

Intel Corp. (NASDAQ:INTC), once the largest chipmaker globally, struggled over the past few decades amid the intensifying competition in the industry and the changing corporate visions from its previous leaders.

Last year, Intel Corp. (NASDAQ:INTC) officially announced plans to embark on a corporate restructuring plan in a bid to claw back to profitability. The initiative included the reduction of at least 15 percent of its total workforce, reducing operating expenses and capital expenditures, and exiting businesses to raise funds, among others.