The stock market kicked off the trading week in a bloodbath, erasing last week’s gains, with all major indices posting heavy losses following President Donald Trump’s confirmation that tariffs on goods from Mexico and Canada are set to take effect on Tuesday.
The tech-heavy Nasdaq posted the biggest loss, down 2.64 percent, followed by S&P at 1.76 percent, and Dow Jones at 1.48 percent.
According to Trump, there was no room left for Mexico and Canada, and his 25-percent tariff for the two countries “will start.” He also signed an additional 10-percent tariff on goods from China.
Despite the market decline, ten companies bucked an overall pessimistic sentiment, making it to the top gainers list mainly due to bullish ratings and earnings performance, among others. In this article, we have detailed the reasons behind their gains.
To come up with Monday’s top gainers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.
Stock market charts. Photo by Kaboompics.com on Pexels
10. Life Time Group Holdings Inc. (NYSE:LTH)
Life Time Group kicked off the week stronger, adding 3.18 percent to its valuation to close at $31.43 apiece as investors cheered news of its strong earnings performance last year.
LTH, which owns and manages fitness and recreational sports centers, saw net income in the fourth quarter of 2024 grow by 57 percent to $37.2 million from $23.7 million in the same period last year due to improved business performance. Revenues rose by 18.7 percent to $663.3 million from $558.8 million due to continued strong growth in membership dues and in-center revenue, driven by an increase in average dues, membership growth in new and ramping centers, and higher member utilization of in-center offerings.
Net income for full year 2024 alone more than doubled to $156.2 million from $76.1 million in 2023 as revenues increased 18.2 percent to $2.621 billion from $2.216 billion.
9. AppLovin Corporation (NASDAQ:APP)
AppLovin recovered for the second day on Monday following eight consecutive days of battering, adding 3.56 percent to close at $337.34 apiece as investors cheered an investment bank backing APP against two short-sellers which claimed that APP force-fed other mobile application downloads onto a user’s device.
In its report, Benchmark believed that the allegations from Fuzzy Panda and Culper Research were based on speculation, mischaracterization, and misinformation. It said that APP followed regulations, created real advertising value, and delivered financial transparency to its customers.
It also accused Fuzzy Panda and Culper Research of being interested in profiting on downturns in APP stock, and that APP does not seek to obtain fraudulent clicks.
Benchmark gave a “buy” rating and a $525 price target on APP.
Hedge Fund Resource Center