The stock market ended strong anew on Thursday, with all major indices finishing in the green territory, as investor sentiment was bolstered by a flurry of corporate earnings supported by better-than-expected performance from the technology giants.
The tech-heavy Nasdaq led the rally among all major indices, finishing up 1.52 percent. The S&P 500 clocked in a 0.63-percent gain, while the Dow Jones was up by 0.21 percent.
Ten companies also mimicked the broader market optimism following impressive earnings performance and an optimistic outlook for the rest of the year.
In this article, we have identified the 10 top performers on Thursday and detailed the reasons behind their gains.
To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume.
Photo by Yan Krukau/Pexels
10. Bitdeer Technologies Inc. (NASDAQ:BTDR)
Bitdeer Technologies snapped a three-day losing streak on Thursday, adding 6.37 percent to close at $10.18 apiece following news that it would release the results of its first quarter earnings performance in the second week.
The company is scheduled to announce the results before market hours on Thursday, May 15, 2025.
Earlier this week, investment firm B. Riley said it expects Bitdeer Technologies Inc. (NASDAQ:BTDR) to earn 5 cents per share for the quarter and 29 cents for full-year 2027.
In recent news, Bitdeer Technologies Inc. (NASDAQ:BTDR) received a $200 million credit line offer from Matrixport, a company similarly owned by its chairman, Jihan Wu, to support the Bitcoin miner’s ASIC manufacturing efforts. The loan carries a variable interest rate of 9 percent and is repayable in fixed monthly installments over a period of 24 months.
As of April 21, BTDR was already able to draw as much as $43 million from the credit line.
9. Arista Networks Inc (NYSE:ANET)
Arista Networks extended its winning streak for an eighth consecutive day on Thursday, jumping 6.77 percent to finish at $87.84 apiece, as investor sentiment was fueled by analysts’ bullish outlook in the company.
On Wednesday, investment firm Morgan Stanley raised its price target for Arista Networks Inc (NYSE:ANET) by 37 percent to $100 from $73 previously while maintaining its “overweight” rating on the stock.
The steep jump indicated strong expectations on the company’s potential and continued confidence in its market performance.
Arista Networks Inc. (NYSE:ANET) is scheduled to release the results of its first quarter earnings performance after market close on Tuesday, May 6, 2025.
Arista Networks Inc. (NYSE:ANET) is an industry leader in data-driven, client-to-cloud networking for large AI, data center, campus, and routing environments.
8. Riot Platforms, Inc. (NASDAQ:RIOT)
Riot Platforms snapped a four-day losing streak on Thursday, adding 7.32 percent to finish at $7.77 apiece following the release of mixed earnings performance in the past quarter of the year.
In a statement, Riot Platforms, Inc. (NASDAQ:RIOT) said it swung to a net loss of $296 million in the first quarter of the year from a $212 million net income in the same period a year earlier.
Revenues, however, more-than-doubled to $161.4 million from $79.3 million year-on-year driven by a $71.5-million increase in Bitcoin mining revenue which totaled to $142.9 million, due to higher average bitcoin prices and an increase in operational hash rate, partially offset by the block subsidy ‘halving’ event and an increase in average global network hash rate.
As of end-March, Riot Platforms, Inc. (NASDAQ:RIOT) was able to produce 1,530 Bitcoins, as compared to 1,364 during the same period last year.
7. CoreWeave, Inc. (NASDAQ:CRWV)
CoreWeave Inc. saw its stock prices increase by 7.31 percent on Thursday to finish at $44.32 apiece as investors snapped up shares following Microsoft Corporation’s (NASDAQ:MSFT) better-than-expected cloud sales and reiterated spending plans.
Microsoft Corporation (NASDAQ:MSFT) is CoreWeave, Inc.’s (NASDAQ:CRWV) largest revenue-generating client, which, last year, accounted for 62 percent of its total revenues.
In its latest earnings release, Microsoft Corporation (NASDAQ:MSFT) reiterated plans to raise capital expenditures in the new fiscal year, albeit at a slower rate. The announcement spelled good news for CoreWeave, Inc. (NASDAQ:CRWV) on expectations that any budget increase could spill over into its contracts with MSFT.
Additionally, CRWV’s other client, Meta Platforms Inc. (NASDAQ:META), also raised its 2025 capital spending forecast to between $64 billion and $72 billion.
6. CNH Industrial N.V. (NYSE:CNH)
CNH Industrial grew its share prices by 7.26 percent on Thursday to finish at $12.41 apiece as investors cheered the company’s analyst estimates beat despite posting dismal performance in the first quarter of the year.
In its latest earnings release, CNH Industrial N.V. (NYSE:CNH) announced a 64-percent drop in net income during the quarter, at $132 million versus the $369 million in the same period last year, weighed down by lower shipment volumes in agriculture and construction.
Consolidated revenues dropped by 21 percent to $3.8 billion from $4.8 billion year-on-year as a result of lower industry demand.
Earnings per share stood at 10 cents, beating analyst estimates of 9 cents per share.
Looking ahead, CNH Industrial N.V. (NYSE:CNH) expects global industry retail sales to remain lower in both the agriculture and construction equipment industries as compared with 2024. To mitigate risks, the company said it would focus on driving down excess channel inventory primarily by producing fewer units than the retail demand level.
“Therefore, 2025 net sales will be lower than in 2024,” it underscored.
5. Microsoft Corporation (NASDAQ:MSFT)
Technology giant Microsoft Corporation extended its rally for a third consecutive day on Thursday, adding 7.63 percent to end at $425.4 apiece as investors gobbled up shares following better-than-expected earnings coupled with a higher capital allocation for the next year.
On Thursday, Microsoft Corporation (NASDAQ:MSFT) reported an 18-percent jump in its net income for the third quarter of fiscal year 2025, at $25.8 billion versus the $21.9 billion registered in the same period last year.
Revenues, on the other hand, rose by 2.4 percent to $70.07 billion from $68.42 billion year-on-year.
For the next fiscal year, Microsoft Corporation (NASDAQ:MSFT) CEO Satya Nadella said that the company will gun for a higher capital spending, albeit at a slower rate than the $80 billion budget for the current fiscal year.
Nadella said the 2025 total budget would be allocated for the construction of data centers that can handle artificial intelligence workloads.
4. Newell Brands Inc. (NASDAQ:NWL)
Newell Brands grew its share prices by 8.16 percent on Thursday to close at $5.17 apiece as investor sentiment was buoyed by the company’s maintained business outlook for the rest of the year despite posting dismal earnings performance during the past quarter.
In the company’s latest earnings release, Newell Brands Inc. (NASDAQ:NWL) Chief Finance Officer Mark Erceg said that the company’s “series of swift interventions,” including targeted pricing actions, incremental cost reduction efforts, and rapid sourcing decisions, brings confidence that it can fully offset the US tariffs and foreign retaliatory tariffs currently in place, other than the 125-percent US tariffs on China, and maintain its original 2025 full year net sales, operating margin and EPS guidance ranges.
In the first three months, Newell Brands Inc. (NASDAQ:NWL) widened its net loss by 311 percent to $37 million from $9 million in the same period last year, while net sales dropped by 5.3 percent to $1.566 billion from $1.653 billion year-on-year.
3. Vertiv Holdings Co. (NYSE:VRT)
Vertiv Holdings surged by 8.4 percent on Thursday to end at $92.55 apiece as investors cheered the company’s impressive earnings performance in the first three months of the year, coupled with an optimistic business outlook.
In its earnings release, Vertiv Holdings Co. (NYSE:VRT) said it swung to a net income of $164.5 million in the period from a $5.9-million net loss in the same quarter last year.
Revenues jumped by 24 percent to $2.036 billion from $1.639 billion year-on-year.
“Vertiv’s strong first quarter results demonstrate our continued momentum and reinforce our position for long-term sustainable growth,” said Vertiv Holdings Co. (NYSE:VRT) CEO Giordano Albertazzi.
“We continue to see accelerated scaling of AI deployments across the data center market, with strong demand signals reinforcing both our near- and long-term growth outlook,” he added.
Assuming tariff rates remain constant throughout the year, the company believed that its diverse manufacturing footprint, operational flexibility, and commercial strategies “will progressively lessen the tariff impact as the year progresses.”
“Although the tariff environment remains fluid, our goal is to significantly mitigate the effect of tariffs as we enter 2026,” Albertazzi said.
2. Hims & Hers Health, Inc. (NYSE:HIMS)
Hims & Hers saw its share prices jump by 9.24 percent on Thursday to end at $36.16 apiece as investors repositioned portfolios ahead of the release of its earnings performance next week.
According to a statement, Hims & Hers Health, Inc. (NYSE:HIMS) will announce its earnings results after the market closes on Monday, May 5, 2025, where investors will be closely watching out for the company’s updated outlook guidance for the rest of the year.
In recent news, Hims & Hers Health, Inc. (NYSE:HIMS) clinched a long-term deal with Novo Nordisk to jointly market the latter’s blockbuster weight loss drug, Wegovy.
Hims & Hers Health, Inc. (NYSE:HIMS) said that Americans can now access NovoCare Pharmacy directly through its platform, with a bundled offering of all dose strengths of Wegovy and a Hims & Hers membership, including access to 24/7 care, ongoing clinical support, and nutrition guidance, among others.
It can be learned that HIMS used to make a compounded knock-off version of the treatment that helped propel its sales over the past few years. It was later discontinued after the Food and Drug Administration announced that Novo Nordisk had already produced a sufficient supply of the treatment.
1. Carrier Global Corporation (NYSE:CARR)
Carrier Global rose for a fourth straight day on Thursday, adding 11.61 percent to end at $69.80 apiece as investors cheered its strong earnings performance in the first quarter of the year.
In a statement, Carrier Global Corporation (NYSE:CARR) said that net income attributable to shareholders surged by 53 percent to $412 million from $269 million reported in the same period last year, despite net sales dipping by 3.7 percent to $5.218 billion from $5.420 billion year-on-year.
Additionally, Carrier Global Corporation (NYSE:CARR) raised its full-year guidance amid an expected strong demand for its heating, ventilating, and air conditioning (HVAC) products and aftermarket repair services.
According to the company, it now expects full-year sales to settle at $23 billion, as compared with the range of $22.5 billion to $23 billion previously.
Adjusted earnings per share were also pegged at $3 to $3.10, or an expected growth range of 17 to 21 percent, as compared with the $2.95 to $3.05 or 15 to 20 percent growth targeted earlier.
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