The stock market fell into the red territory on Friday, with all major indices recording losses over renewed fears of growing trade tensions coupled with expectations of a higher inflation rate in the US.
The Dow Jones lost 0.99 percent, the S&P 500 declined 0.95 percent, while the tech-heavy Nasdaq dived by 1.36 percent.
Despite the overall pessimistic sentiment, 10 companies managed to defy losses, posting double-digit gains in their valuations amid a flurry of impressive earnings performance.
To come up with Friday’s top winners, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
A man in long sleeves looking at stock market data. Photo by Tima Miroshnichenko on Pexels
10. Nuscale Power Corp. (NYSE:SMR)
Shares of Nuscale Power (SMR) traded higher in line with its peers on Friday, jumping 11.14 percent to close at $25.84 apiece as investor sentiment was fueled by announcements that the US will prioritize energy expansion in the country.
Following his confirmation to lead the US power sector, Energy Secretary Chris Wright issued a department order stating that the agency would prioritize expanding energy production over achieving net-zero greenhouse gas emissions.
“The Department’s goal will be to unleash the great abundance of American energy required to power modern life and to achieve a durable state of American energy dominance,” the order was quoted as saying in a report by Reuters.
It also underscored that net zero policies pushed up the prices of energy for homes and businesses, threatened the reliability of energy systems, and undermined energy security.
SMR, a company specializing in small modular reactors, stands to benefit from the government’s energy expansion plan, further fueled by an expected boom in the Artificial Intelligence industry.
9. Take-Two Interactive Software Inc. (NASDAQ:TTWO)
Shares of Take-Two Interactive (TTWO) jumped by 14 percent on Friday after achieving an improvement in its earnings performance in full-year 2024 coupled with an upgraded rating from an investment research company.
In a regulatory filing, TTWO said it was able to slash its net loss in nine months ending December 2024 by 10.5 percent to $757.2 million from the $841.2 million registered in the same period a year earlier.
However, the past quarter saw a 36.7-percent net loss expansion at $125.2 million versus the $91.6 million year-on-year.
Net revenues in the nine-month period increased by 7 percent to $3.69 billion from $3.43 billion and inched up by 2 percent to $1.24 billion from $1.21 billion in the fourth quarter.
Meanwhile, TTWO maintained a positive outlook from TD Cowen, with the latter reiterating its “buy” rating and a price target of $211.
Hedge Fund Resource Center