Ten stocks climbed by huge double-digit gains on Thursday, leaving Wall Street’s three major indices in the dust, thanks to a flurry of strong corporate earnings and upbeat outlooks for their businesses.

On Wall Street, the Dow Jones fell by 0.63 percent, the S&P 500 decreased by 0.38 percent, while the Nasdaq dipped by 0.13 percent.

In this article, we focus on the 10 top-performing companies on Thursday and break down the reasons behind their gains.

To come up with the list, we considered the stocks with a $2 billion market capitalization and 5 million shares in trading volume.

10. Americold Realty Trust Inc. (NYSE:COLD)

Americold Realty Trust extended its winning streak to a third straight session on Thursday, soaring 17.87 percent to finish at $14.97 apiece, after clinching a $1.3 billion joint venture with global investment firm EQT Group for the development of new cold storage facilities in the US.

Under the agreement, Americold Realty Trust Inc. (NYSE:COLD) will build 12 new storage facilities, comprising of approximately 124 million cubic feet of temperature-controlled area, with more than 400,000 combined pallet positions.

EQT will own a 70 percent stake in the joint venture, while Americold Realty Trust Inc. (NYSE:COLD) will take the remaining 30 percent and manage the platform to ensure continuity of service. It will also receive $1.1 billion in payments for the development, proceeds of which will be used to repay outstanding debt.

The transaction is expected to close in the third quarter of the year, subject to customary closing conditions and regulatory approvals.

In other news, Americold Realty Trust Inc. (NYSE:COLD) narrowed its attributable net loss in the first quarter of the year by 17.6 percent to $13.5 million from $16.38 million in the same period last year. Total revenues finished flat at $629 million versus the same comparable quarter.

9. Fortinet Inc. (NASDAQ:FTNT)

Fortinet soared to a new 52-week high on Thursday, as investors resumed buying positions after a strong earnings performance in the first three months of the year and an upbeat outlook for the second quarter and the full-year period.

At intra-day trading, the stock climbed to a record high of $112.39 before trimming gains to finish the session just up by 20.03 percent at $107.97 apiece.

In an updated report, Fortinet Inc. (NASDAQ:FTNT) said that it was able to grow its net income by 23 percent to $534.5 million from $433.4 million in the same quarter last year. Total revenues exceeded its earlier guidance of $1.7 billion to $1.76 billion, marking an increase of 20 percent to $1.85 billion, versus the $1.54 billion posted in the same comparable period.

Encouraged by the strong start to the year, Fortinet Inc. (NASDAQ:FTNT) raised its revenue growth forecast for the full-year period to a range of $7.71 billion to $7.87 billion, versus $7.5 billion to $7.7 billion previously.

Diluted non-GAAP earnings per share are also projected at $3.10 to $3.16, higher than the $2.94 to $3 as expected prior.

For the second quarter alone, Fortinet Inc. (NASDAQ:FTNT) is targeting revenues in the range of $1.83 billion to $1.93 billion, or an implied growth of 12 percent to 18.4 percent versus the $1.63 billion year-on-year.

8. LifeStance Health Group Inc. (NASDAQ:LFST)

LifeStance Health climbed to a new two-year high on Thursday, as investors gobbled up shares following a stellar earnings performance in the first quarter of the year, with profits soaring by over 1,900 percent.

At intra-day trading, the stock climbed to its highest price of $8.89 before trimming a few cents to end the session up by 20.24 percent at $8.85 apiece.

In an updated report, LifeStance Health Group Inc. (NASDAQ:LFST) said that its net income skyrocketed by 1,908 percent to $14.2 million from only $709,000 in the same period last year, while revenues increased by 21 percent to $403.5 million from $333 million year-on-year.

LifeStance Health Group Inc. (NASDAQ:LFST) CEO Dave Bourdon pointed to the growing demand for mental healthcare as having buoyed the company’s strong results during the period.

Looking ahead, the company raised its revenue growth forecast for the full year period to a range of $1.64 billion to $1.68 billion from the $1.615 billion to $1.655 billion previously.

It also targets revenues at $405 million to $425 million for the second quarter, or an implied growth of 17 percent to 23 percent from the $345.3 million in the same period a year earlier.

7. Warby Parker Inc. (NYSE:WRBY)

Warby Parker soared by 23.47 percent on Thursday to end at $27.20 apiece, after beating its revenue expectations in the first quarter of the year and posting an upbeat outlook for the second quarter and full-year period.

In an updated report, Warby Parker Inc. (NYSE:WRBY) said that it was able to achieve $242 million in revenues in the first three months of the year, jumping by 8 percent from the $223.78 million in the same period last year, and beating its earlier target of $238 million to $240 million.

Net income, on the other hand, ended at $3.18 million, lower by 8 percent than the $3.47 million year-on-year.

Looking ahead, Warby Parker Inc. (NYSE:WRBY) is targeting revenues of $235 million to $238 million in the second quarter of the year, or an implied growth of 9.5 percent to 10.9 percent from the $214.5 million posted in the same period a year earlier.

Adjusted EBITDA is projected at $27 million to $29 million, or growth of 8 percent to 16 percent from the $25 million year-on-year.

For the full-year period, revenues are expected to grow by 10 to 12 percent to a range of $959 million to $976 million, versus the $871.9 million a year earlier.

6. H&R Block Inc. (NYSE:HRB)

H&R Block snapped a four-day losing streak on Thursday, jumping 23.77 percent to close at $36.29 apiece, as investors took heart from a strong earnings performance in the third quarter of fiscal year 2026, coupled with a higher growth outlook for the full fiscal period.

In an updated report, H&R Block Inc. (NYSE:HRB) said that its net income for the three months ending March 2026 climbed by 17 percent to $847.9 million from $722.3 million in the same period last year, on the back of a one-time tax benefit and fewer shares outstanding from buybacks, among others.

Revenues also grew by 5 percent to $2.4 billion from $2.28 billion year-on-year, on the back of higher net average charge and volume in the US assisted tax preparation category, growth in international revenue, and an increase in refund transfer volume.

Following the results, H&R Block Inc. (NYSE:HRB) raised its revenue growth outlook for the full fiscal year 2026 to a range of $3.91 billion to $3.92 billion, or an implied growth of 3 percent from the $3.8 billion posted in the last fiscal year.

The lower range of its EBITDA target was also raised to $1.025 billion from $1.015 billion, while the upper range was maintained at $1.035 billion. This would imply growth of 5 to 6 percent versus the $976 million year-on-year.

In other news, H&R Block Inc. (NYSE:HRB) announced the distribution of $0.42 in cash dividends to all shareholders on record as of June 3, 2026, payable on July 7.

Click to continue reading and see the other 5 Stocks Boasting High Double-Digit Gains.

Disclosure: None. Follow Insider Monkey on Google News.