Ten stocks boasted strong gains on Monday, three of which notched new record highs, as investors took heart from a flurry of positive industry and corporate developments.
The stocks bucked a mixed performance in the broader market, with the Dow Jones the sole gainer, up 0.32 percent during the day. The S&P 500 and the Nasdaq both declined, by 0.07 percent and 0.51 percent, respectively.
Indices aside, this article focuses on the performance of the 10 top gainers on Monday and breaks 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.
The New York Stock Exchange building. Photo by Дмитрий Трепольский on Pexels
10. Oscar Health Inc. (NYSE:OSCR)
Oscar Health climbed to a new five-year high on Monday, as investors resumed buying positions in its stock after the Centers for Medicare & Medicaid Services (CMS) formally lowered user fees for the Affordable Care Act (ACA) marketplaces.
In intra-day trading, the stock surged to its highest price of $25.58 before trimming a few cents to finish the session up by 8.49 percent at $25.30 apiece.
In a statement on Friday, the CMS said that ACA user fees for federally facilitated exchanges will be lowered to 1.9 percent from 2.5 percent, while fees for state-based exchanges will be cut to 1.5 percent from 2 percent.
These reductions are expected to help put downward pressure on premiums in 2027, paving the way for a potential jump in profit margins for health insurance companies, including Oscar Health Inc. (NYSE:OSCR).
“American taxpayers deserve to know their dollars are going only to people who truly qualify,” said CMS Administrator Mehmet Oz.
“This rule strengthens eligibility checks, cracks down on abuse, and gives insurers more flexibility to offer affordable, consumer-focused coverage options,” he added.
In other news, Oscar Health Inc. (NYSE:OSCR) posted a stellar earnings performance in the first quarter of the year, having boosted its net income by 147 percent to $679 million from $275 million in the same period last year.
Revenues increased by 52 percent to $4.6 billion from $3.05 billion in the same period last year, thanks to higher rates and membership.
Following the results, Oscar Health Inc. (NYSE:OSCR) reaffirmed its outlook of $18.7 billion to $19 billion in revenues for full-year 2026, or an implied growth of 60 percent to 62 percent from the $11.7 billion posted in 2025.
9. Firefly Aerospace Inc. (NASDAQ:FLY)
Firefly Aerospace climbed by 8.71 percent on Monday to close at $43.95 apiece, as sentiment was bolstered by the growing optimism for space stocks, thanks to new updates on SpaceX’s looming initial public offering (IPO).
SpaceX, one of the largest players in the space sector, is looking to raise $75 billion in fresh funds from a public offering, aiming for a valuation close to $2 trillion.
It is targeting to officially list on the Nasdaq exchange on June 12, and investors are now keeping an eye on the release of the official prospectus anytime this week.
For investors, SpaceX’s IPO, also touted as the largest public offering in history, shows a huge vote of confidence for the sector, with optimism spilling over to key players, including Firefly Aerospace Inc. (NASDAQ:FLY).
In other news, a subsidiary of Firefly Aerospace Inc. (NASDAQ:FLY) recently bagged a new contract from the Air Force Research Laboratory (AFRL) to help advance state-of-the-art sensor system research and development, in a bid to enhance the US government’s future capabilities in global persistent awareness.
Firefly Aerospace Inc. (NASDAQ:FLY) said that under the agreement, AFRL will implement deep learning and other advanced algorithms on small Size, Weight, and Power (SWaP) processors to support enhanced target detection, tracking, and custody, and ultimately heighten mission performance, among others.
8. YPF Sociedad Anónima (NYSE:YPF)
Oil and gas producer YPF Sociedad saw its share prices increase by 8.75 percent on Monday to finish at $47.48 apiece, after unveiling a $25-billion expansion plan to boost large-scale oil exports from its Vaca Muerta shale.
Potentially generating $6 billion in annual exports by 2032, the plan was officially submitted last week under Argentina’s Large Investment Incentive Regime (RIGI). It is by far the program’s largest investment submission to date.
Under the program, YPF Sociedad Anonima (NYSE:YPF) will fully operate the development and drill 1,152 wells over the next 15 years. It aims to reach a peak production of 240,000 barrels of oil per day beginning in 2032.
YPF Sociedad Anonima (NYSE:YPF) said that all crude oil produced from the site will be directed to export markets and transported through the VMOS export system, while associated natural gas volumes will be supplied to Argentina’s domestic market.
The project is expected to generate approximately 6,000 new jobs during the development phase.
In other news, YPF Sociedad Anonima (NYSE:YPF) announced last week that it swung to a $409 million net income in the first quarter of the year from a $10 million net loss in the same period last year.
Revenues surged by 7.3 percent to $4.946 billion from $4.608 billion year-on-year.
7. ServiceNow Inc. (NYSE:NOW)
ServiceNow extended its winning streak to a 3rd straight session on Monday, climbing 8.78 percent to close at $103.42 apiece, as investor sentiment was boosted by the Bank of America’s (BofA) highly optimistic coverage for its stock.
In a market note during the day, BofA issued a “buy” recommendation for shares of ServiceNow Inc. (NYSE:NOW), alongside a price target of $130. The figure marked a 25.7 percent upside potential from its latest closing price, and was 36.7 percent higher than the $95.07 close prior to the coverage.
“While AI is disrupting the software landscape, we think NOW stands to benefit from, rather than be replaced by, new AI solutions,” BofA said, noting that its workflow entrenchment “uniquely [positions] it to benefit” from autonomous agents deployed across IT, employee, and customer workflows.
Assuming ServiceNow Inc. (NYSE:NOW) can avoid disruption, BofA projects the company to grow its revenues by 18 to 22 percent through 2022, while maintaining a free cash flow margin of 35 to 37 percent.
ServiceNow Inc. (NYSE:NOW) currently holds a strong buy consensus from 39 Wall Street analysts, 35 of whom recommend buying its shares, while four suggest holding shares.
6. Cognizant Technology Solutions Corp. (NASDAQ:CTSH)
Cognizant rallied for a third straight day on Monday, jumping 9.05 percent to close at $51.40 apiece, as investor sentiment was bolstered by twin initiatives to boost shareholder value through a combination of dividends and a $2 billion increase in its existing share buyback program.
On the same day, investors scrambled to load up on shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH), being the last day to qualify for $0.33 per share in dividends. Payments will be made on May 27, 2026.
Meanwhile, Cognizant Technology Solutions Corp. (NASDAQ:CTSH) also said that its board of directors has given the green light for a $2 billion increase in its authorized share repurchase program, which will bring the total to $3.45 billion.
Some $1 billion of the total amount is expected to be completed by the end of the second quarter.
“Our plan to increase the amount of share repurchases reflects our strong conviction in the long-term opportunity AI creates and our critical role in it as an AI builder,” Cognizant Technology Solutions Corp. (NASDAQ:CTSH) CEO Ravi Kumar said.
“We believe a fundamental shift in the IT services is underway, one that strengthens Cognizant’s position for future growth. We believe our current share price significantly undervalues those prospects. I am confident that our early investments will position us to emerge as a leader in AI-led enterprise transformation in the years ahead,” he noted.
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