The stock market finished the trading week on a positive note, with the 10 top performers boasting double-digit gains, thanks to a series of strong corporate earnings and a more optimistic outlook for the rest of the year. Of the 10 firms, five notably reached new all-time highs.
Meanwhile, Wall Street’s major indices all finished in the green, led by the Nasdaq, growing 0.61 percent, followed by the S&P 500, increasing 0.26 percent, and the Dow Jones, up 0.09 percent.
In this article, we spotlight the 10 companies that led the charge on Friday and explore the reasons behind their gains.
To come up with the list, we focused on the stocks with more than $2 billion in market capitalization and 5 million shares in trading volume.
Photo by Tima Miroshnichenko on Pexels
10. Eos Energy Enterprises Inc. (NASDAQ:EOSE)
Eos Energy grew its share prices by 11.94 percent on Friday to close at $16.03 apiece after securing a new 228 MWh battery energy storage system order from Frontier Power Ltd.
Under a partnership signed in April 2025, Eos Energy Enterprises Inc. (NASDAQ:EOSE) would deliver a total of 5 GWh of BESS to Frontier using its Z3 system, which features a proprietary battery management system, software, controls, and analytics platform, DawnOS, to validate performance and reliability in diverse grid environments.
The new system would also be tested across Frontier’s upcoming projects under Ofgem’s Cap-and-Floor program.
“This order reflects continued confidence in Eos’ zinc technology and the strength of our partnership with Frontier,” Eos Energy Enterprises Inc. (NASDAQ:EOSE) Chief Commercial Officer Nathan Kroeker said.
“Together, we’re demonstrating that long-duration storage is ready to scale and play a critical role in delivering reliable dispatchable power,” he added.
In other news, Eos Energy Enterprises Inc. (NASDAQ:EOSE) is set to announce the results of its third-quarter earnings performance after market close on Wednesday, November 5.
9. Credo Technology Group Holding Ltd (NASDAQ:CRDO)
Credo Technology rallied to a new all-time high on Friday as investors cheered the addition of an ex-Nvidia Corp. executive to its board of directors, deeming him vital in supporting the company’s aggressive expansion into the chip and artificial intelligence (AI) systems.
At intra-day trading, the stock soared to its highest price of $193.5 before trimming gains to end the day just up by 12.6 percent at $187.6 apiece.
Credo Technology Group Holding Ltd (NASDAQ:CRDO) announced the addition of Brian Kelleher as an independent director effective October 27. He replaced Lip-bu Tan, who resigned from his post on October 23 and now serves as chief executive officer of Intel Corp.
“Brian brings deep expertise in designing and developing highly complex semiconductors and AI systems. His distinguished contributions to the field have helped shape the rise of general-purpose GPU computing, which continues to have a profound impact on data infrastructure for AI-driven networks,” Credo Technology Group Holding Ltd (NASDAQ:CRDO) President and CEO Bill Brennan said.
“His vast experience in engineering for accelerated computing applications and AI will prove invaluable as we continue our mission to advance the next generation of high-speed connectivity solutions,” he added.
Prior to joining Credo Technology Group Holding Ltd (NASDAQ:CRDO) Brennan served as senior vice president of GPU Engineering at Nvidia Corp., during which he led the GPU product development organization and helped usher in the era of general-purpose GPU computing.
8. Qfin Holdings, Inc. (NASDAQ:QFIN)
Qfin Holdings saw its share prices jump by 13.43 percent on Friday to close at $24.15 apiece, piggybacking optimism for Chinese stocks following an analyst’s comments that they are among the best hedges against the AI bubble.
In a market note, Bank of America Chief Investment Strategist Michael Hartnett said that Chinese stocks and gold are the best choices to hedge against AI boom trades, especially with US technology giants now trading at a steep valuation.
“The leadership position of the AI sector will not be shaken in the short term. We believe that gold and Chinese stocks are the best choices to hedge against AI prosperity (or bubble risks),” he was quoted as saying.
The optimism spilled over to Chinese stocks, including Qfin Holdings, Inc. (NASDAQ:QFIN).
Meanwhile, based on its historical reporting dates, Qfin Holdings, Inc. (NASDAQ:QFIN) will release the results of its third quarter earnings performance in the second week of November 2025.
Earlier, Qfin Holdings, Inc. (NASDAQ:QFIN) announced a GAAP net income target of 1.52 billion to 1.72 billion yuan for the third quarter of the year, as well as a non-GAAP net profit projection of 1.6 billion to 1.8 billion yuan.
The targets would represent a decline of 2 to 13 percent year-on-year.
7. Cloudflare Inc. (NYSE:NET)
Cloudflare jumped to a new all-time high on Friday, as investors cheered its stellar earnings performance in the third quarter of the year, which supported a more bullish growth outlook for the full year period.
At intra-day trading, the stock climbed to its highest 52-week price of $254.29 before trimming losses to end the day just up by 13.84 percent at $253.30 apiece.
In an updated report, Cloudflare Inc. (NYSE:NET) said it narrowed its net loss by 91 percent to only $1.29 million from $15.3 million in the same period last year, as revenues jumped 31 percent to $562 million from $430 million year-on-year.
The results supported a higher growth outlook for full-year 2025, with revenues now pegged at $2.142 billion to $2.143 billion, versus the $2.113 billion to $2.115 billion targeted previously. Earnings per share are expected at $0.91.
Income from operations is now projected to end at $297 million to $298 million, higher than the prior outlook of $284 million to $286 million.
For the fourth quarter alone, Cloudflare Inc. (NYSE:NET) expects revenues to end at $588.5 million to $589.5 million, while income from operations is targeted at $83 million to $84 million.
In other developments, Cloudflare Inc.’s (NYSE:NET) head of product and engineering, CJ Desai, will step down from his post on November 7 to accept the role of chief executive officer at another publicly listed company.
6. First Solar, Inc. (NASDAQ:FSLR)
First Solar soared to a new all-time high on Friday after posting an impressive earnings performance and raising its growth outlook for full-year 2025.
During the trading session, the stock climbed to its highest 52-week price of $269.67 before paring gains to end the day just up by 14.28 percent at $267.99 apiece.
In an updated report, First Solar, Inc. (NASDAQ:FSLR) said net income in the third quarter jumped by 45.7 percent to $455.9 million from $312.9 million in the same period last year, as net sales increased by 79.6 percent to $1.59 billion from $888 million year-on-year, primarily driven by higher volume of modules sold to third parties.
First Solar, Inc. (NASDAQ:FSLR) CEO Mark Widmar said that despite trade and policy developments posing a challenge to the solar industry, the company differentiated itself through offering pricing and delivery certainties, enabling it to respond effectively to evolving demand drivers and reinforce its leadership.
Following the results, First Solar, Inc. (NASDAQ:FSLR) raised its outlook for net sales to a range of $4.95 billion to $5.20 billion from $4.90 billion to $5.70 billion previously.
5. Alphatec Holdings, Inc. (NASDAQ:ATEC)
Alphatec soared to a new 52-week high on Friday as investors cheered a strong earnings performance in the third quarter alongside a higher revenue growth outlook.
At intra-day trading, Alphatec Holdings, Inc. (NASDAQ:ATEC) jumped to its highest price of $20.15 before trimming gains to end the day just up by 16.29 percent at $18.99 apiece.
In an updated report, the company said it narrowed its net loss by 28 percent to $28.5 million from $39.6 million in the same period last year, as gross profit increased by 33 percent to $137 million from $102.7 million year-on-year.
“We are now delivering durable, profitable revenue growth that is generating cash flow … we are uniquely positioned to set the industry standard for years to come,” said Alphatec Holdings, Inc. (NASDAQ:ATEC) Chairman and CEO Pat Miles.
For the full-year 2025 period, the firm expects total revenues to grow by 24 percent to $760 million year-on-year. The figure was higher than the $742 million outlook previously.
Alphatec Holdings, Inc. (NASDAQ:ATEC), through its wholly owned subsidiaries, Alphatec Spine, Inc., EOS imaging SAS and SafeOp Surgical, Inc., is a medical device company dedicated to revolutionizing the approach to spine surgery through clinical distinction.
4. QuantumScape Corp. (NYSE:QS)
QuantumScape rebounded by 16.78 percent on Friday to close at $18.44 apiece as investors took path from an investment firm’s bullish outlook for its stock.
In its recent coverage, TD Cowen raised its price target for QuantumScape Corp. (NYSE:QS) to $16 from $5 previously, while maintaining a “hold” recommendation.
The revision followed QuantumScape Corp.’s (NYSE:QS) impressive earnings performance in the third quarter of the year, having narrowed its net loss by 11.5 percent to $105.8 million from $119.6 million in the same period last year.
Loss from operations dwindled by 11.6 percent to $114.99 million from $130.16 million year-on-year.
During the same period, the company successfully shipped its most advanced QS cells to date—the Cobra-based QSE-5 B1—following the launch of the product through the Volkswagen Group’s Ducati V21L motorcycle.
In line with its expansion program, QuantumScape Corp. (NYSE:QS) is underway with the installation of a highly automated cell production pilot line, the Eagle Line, at its headquarters in San Jose, California.
“We are working together with our partners to bring our groundbreaking solid-state lithium-metal battery technology to market as quickly as possible. This announcement is another critical step toward achieving our goal of revolutionizing energy storage,” QuantumScape Corp. (NYSE:QS) COO Luca Fasoli said.
3. Travere Therapeutics, Inc. (NASDAQ:TVTX)
Travere Therapeutics climbed to a fresh record high on Friday, as investors took heart from a stellar earnings performance and cues that the company would kick off the last month of the year on a strong note.
At intra-day trading, the stock soared to its highest price of $35.34 before trimming gains to end the day just up by 18.58 percent at $35.16 apiece.
Based on its financial statement on Thursday, Travere Therapeutics, Inc. (NASDAQ:TVTX) swung to a net income of $25.7 million in the third quarter of the year from a $54.8 million net loss in the same period last year.
Total revenues expanded by 162 percent to $164.8 million from $62.9 million year-on-year, helped by strong sales from its kidney disease treatment, Filspari.
According to Travere Therapeutics, Inc. (NASDAQ:TVTX), the drug incurred $90.9 million in sales in the US alone, representing a 155 percent growth year-on-year.
“We delivered outstanding commercial performance in the third quarter, reflecting the growing role of FILSPARI as a foundational therapy in IgAN. This success underscores the strength of our commercial execution and the expanding confidence in FILSPARI among physicians and patients,” Travere Therapeutics, Inc. (NASDAQ:TVTX) President and CEO Eric Dube said.
“We continue to be pleased with the progress of our sNDA review in FSGS and are actively preparing for a potential FDA approval early next year. We are also making meaningful progress toward restarting the pivotal HARMONY Study of pegtibatinase and have positioned the company to support long-term growth. We are entering the final months of 2025 in a position of strength as we remain focused on execution and on expanding our impact for people living with rare diseases,” he noted.
2. Twilio Inc. (NYSE:TWLO)
Twilio grew its share prices by 19.51 percent on Friday to close at $134.88 apiece as investors cheered an impressive earnings performance and a higher growth outlook for the fiscal year 2025.
In an updated report, Twilio Inc. (NYSE:TWLO) said it swung to a net income attributable to shareholders of $37.2 million from a $9.7 million net loss in the same period last year. Revenues grew by 15 percent to $1.3 billion from $1.13 billion year-on-year.
“Twilio saw another record quarter of revenue and non-GAAP income from operations and as a result, we’ve raised our revenue, profitability and free cash flow targets for the full year,” said Twilio Inc. (NYSE:TWLO) CEO Khozema Shipchandler.
“We saw broad-based strength across customer segments, ranging from startups to enterprises to ISVs, that continue to choose Twilio to power their customer engagement. Our team is looking to finish the year off strong by helping our customers build relationships that grow stronger and more meaningful with every engagement,” he added.
Among other key growth metrics, Twilio Inc. (NYSE:TWLO) raised its revenue growth outlook to a range of 12.4 to 12.6 percent, versus the 10 to 11 percent previously.
Organic revenue growth was also pegged to grow by 11.3 to 11.5 percent, higher than the 9 to 10 percent prior.
On Thursday, the company also entered into a definitive agreement to acquire Stytch, Inc., an identity platform for AI agents built for developers. The transaction is expected to close in the middle of November, subject to closing conditions.
1. Illumina, Inc. (NASDAQ:ILMN)
Illumina rallied for a second day on Friday, climbing 24.78 percent to close at $123.54 apiece after beating its earnings guidance in the third quarter of the year and projecting a lower revenue decline in the full fiscal 2025 period.
In an updated report, Illumina, Inc. (NASDAQ:ILMN) saw net income fall by 79 percent to $150 million from $705 million previously, as revenues ended flat at $1.08 billion.
“Illumina team delivered Q325 results that exceeded the high-end of our guidance range for revenue and earnings, driven by revenue acceleration in clinical, our largest market segment,” said CEO Jacob Thaysen.
“During the quarter, we returned to growth ex-China and are executing on our strategic pillars that support our long-range financial targets,” he added.
For fiscal year 2025, Illumina, Inc. (NASDAQ:ILMN) now expects revenues to decline by only 0.5 percent to 1.5 percent year-on-year, a revision of the upper end range of 2.5 percent previously.
Illumina, Inc. (NASDAQ:ILMN) is one of the leading genomics companies that engages in providing DNA sequencing and array-based technologies for life sciences, oncology, and reproductive health, among others.
While we acknowledge the potential of ILMN 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 ILMN and that has 100x upside potential, check out our report about this cheapest AI stock.
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