Ten stocks kicked off Monday’s trading leading the charge, in line with the overall market optimism, as investors cheered the looming end of a government shutdown, while taking cues from more corporate earnings and upbeat outlooks. Of the 10 in the list, five surged to new record highs, with one notably soaring by more tha 100 percent.
Meanwhile, Wall Street’s major indices all finished in the green, led by the tech-heavy Nasdaq, up 2.27 percent, followed by the S&P 500, jumping 1.54 percent, and the Dow Jones, rising 0.81 percent.
This article focuses on the 10 big names that outperformed, alongside the reasons behind their gains.
To come up with the list, we considered only the stocks with a $2 billion market capitalization and more than 5 million shares in trading volume.
A man in black suit holding a tablet looks at stock market data on a monitor. Photo by Tima Miroshnichenko on Pexels
10. 10x Genomics Inc. (NASDAQ:TXG)
Shares of 10x Genomics propelled to a new 52-week high after narrowing its net loss and beating its revenue guidance for the third quarter of the year.
At intra-day trading, the stock jumped to its highest price of $17.28 before paring gains to end the day just up by 12 percent at $17.08 apiece.
In an updated report, 10x Genomics Inc. (NASDAQ:TXG) said it narrowed its net loss in the third quarter by 23 percent to $27.47 million from $35.75 million in the same period last year.
Revenues, on the other hand, declined by 1.7 percent to $149 million from $151.6 million in the same comparable period, primarily due to a decrease in instrument revenue. However, the figure beat the company’s earlier guidance of $140 million to $144 million.
Looking ahead, 10x Genomics Inc. (NASDAQ:TXG) expects the fourth quarter of the year to be in the range of $154 million to $158 million, or an expected decline of 6 percent year-on-year, but a growth of 5 percent at the midpoint on a quarter-on-quarter basis.
“This outlook reflects the continuation of the key positive drivers of performance that we’ve seen throughout this year. We do not anticipate a material change in customer purchasing behavior and do not anticipate the year-end budget acceleration we have previously experienced in the fourth quarter,” said 10x Genomics Inc. (NASDAQ:TXG) CEO Serge Saxonov.
9. Pagaya Technologies Ltd. (NASDAQ:PGY)
Pagaya Technologies rallied for a second day on Monday, jumping 12.80 percent to close at $27.58 after beating its earnings expectations in the past quarter and raising its growth guidance for the full-year 2025.
In an updated report, Pagaya Technologies Ltd. (NASDAQ:PGY) said it swung to a net income attributable to shareholders of $22.5 million from $67.48 million in the same period last year, beating its earlier guidance of $10 million to $20 million for the period, thanks to revenue growth, lower expenses, and normalized impairments.
Total revenues and other income ended at $350 million, hitting the higher end of its previous revenue guidance and marking a 36 percent growth from the $257 million year-on-year, driven by higher revenues from fees.
Following the results, Pagaya Technologies Ltd. (NASDAQ:PGY) raised its full-year guidance for net profit, revenues, and adjusted EBITDA, among others.
Net income is now targeted at a range of $72 million to $82 million, versus $55 million to $75 million previously.
Revenues are also expected to increase to a range of $1.3 billion to $1.325 billion, from its previous expectations of at least $1.25 billion.
For the fourth quarter alone, net income is projected to settle anywhere between $25 million and $35 million, while revenues are expected to be at $333 million to $358 million.
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