Ten stocks stood firmer on Thursday, with four hitting record highs, as investors loaded portfolios amid the earnings season.
In contrast, Wall Street’s three major indices all ended in the red, with the Nasdaq leading the drop by 0.89 percent, followed by the S&P 500 decreasing 0.41 percent, and the Dow Jones declining 0.36 percent.
In this article, we focus on the 10 top-performing stocks on Thursday and detail the reasons behind their gains.
To come up with the list, we focused on the stocks with a $2 billion market capitalization and 5 million shares in trading volume.
Stock market charts. Photo by Kaboompics.com on Pexels
10. ON Semiconductor Corp. (NASDAQ:ON)
ON Semiconductor climbed to an over two-year high on Thursday, extending a rally for 14 straight days, as investors resumed buying positions following an investment firm’s high double-digit price target upgrade, while loading portfolios ahead of its earnings outcome.
In intra-day trading, the stock climbed to a record high of $99.18 before paring gains to end the day just up by 9.88 percent at $7.78 apiece.
This followed B. Riley’s 80-percent price target upgrade for its stock to $115 from $64, while upgrading its recommendation to “buy” from “neutral” previously.
B. Riley said that the upgrade was based on expectations that ON Semiconductor Corp. (NASDAQ:ON) will report first-quarter earnings in line with consensus, citing emerging growth factors and progress on its exit from non-core revenue streams.
The chipmaker is set to announce its financial and operating highlights after market close on May 4, 2026.
For the period, ON Semiconductor Corp. is targeted to report total revenues of $1.435 billion to $1.535 billion, or an implied 0.7 percent decline to a 6 percent growth from the $1.446 billion in the same period last year.
Investors are also expected to watch for ON Semiconductor Corp.’s outlook for the second quarter of the year.
9. Microchip Technology Inc. (NASDAQ:MCHP)
Microchip jumped to a nearly two-year high on Thursday, as investors resumed buying positions ahead of the results of its earnings performance for the fourth quarter of fiscal year 2026.
In intra-day trading, the stock surged to a record high of $92.24 before trimming gains to finish the session just up by 9.89 percent at $90.64 apiece. The rally was supported by a flurry of strong earnings performance from the firm’s counterparts, which bolstered growth expectations for the company in the same period.
Microchip Technology Inc. (NASDAQ:MCHP) is set to announce its financial and operating highlights for the fiscal year 2026 ending March after market close on May 7, 2026. A conference call will be organized to discuss the results.
For the period, Microchip Technology Inc. is targeting to report net sales of $1.24 billion to $1.28 billion, or an implied growth of 28 percent to 32 percent from the $970 million in the same period last year.
It also expects to swing to a GAAP net income of $72.4 million to $95.5 million, from a GAAP net loss of $154.6 million in the same quarter a year earlier.
Microchip Technology Inc. is a broadline supplier of semiconductors. On Wednesday, it unveiled a new family of plug-in timing modules called MD-990-0011-B, which it developed along with Intel Corp. The new module was designed to serve current AI workloads and deliver turnkey, high-precision synchronization for data center servers and 5G virtualized Radio Access Networks.
8. Liberty Energy Inc. (NYSE:LBRT)
Liberty Energy extended its winning streak to a 4th consecutive day on Thursday, to end just a few cents shy of its all-time high, as investors took heart from its strong earnings performance helped by the recent tensions between the US and Iran.
At market close, the stock finished 9.86 percent higher at $32.32, or just 8-cents shy of its all-time high of $32.40.
In an updated report, Liberty Energy Inc. (NYSE:LBRT) said that it grew its net income for the period by 12 percent to $22.5 million from $20.1 million in the same quarter a year earlier, while revenues broke past the $1 billion mark, ending at $1.02 billion or 4 percent higher than the $977 million year-on-year.
Liberty Energy Inc. CEO Ron Gusek pointed to the “unprecedented oil and gas supply disruptions” as among the factors that sparked a strong earnings performance, with crude oil and natural gas prices seen hitting historic highs over the past few weeks amid the tensions in the Middle East.
In other news, Liberty Energy Inc. announced the distribution of dividends amounting to $0.09 per Class A common share held by its shareholders on record as of June 4, 2026, payable on June 18.
7. Mobileye Global Inc. (NASDAQ:MBLY)
Mobileye soared by 10.13 percent on Thursday to end at $8.70 apiece, as investor sentiment was bolstered by its higher growth outlook for 2026, which overshadowed a mixed earnings performance for the first quarter.
In an updated report, Mobileye Global Inc. (NASDAQ:MBLY) raised its revenue growth outlook for full-year 2026 to a range of $1.935 billion to $2.015 billion, from the $1.9 billion to $1.98 billion as expected previously.
Adjusted operating income was also pegged at a range of $185 million to $235 million, higher than the $170 million to $220 million prior, to reflect operating leverage on the higher revenue outlook.
In the first quarter of the year, Mobileye Global Inc. grew its GAAP revenues by 27 percent to $558 million from $438 million in the same period a year earlier, thanks to a 28-percent expansion in EyeQ SoC volumes attributable to higher demand. However, it widened its net loss by 3,643 percent to $3.818 billion from only $102 million in the same comparable period.
Commenting on the results, Mobileye Global Inc. President and CEO Amnon Shashua said that the first quarter results reflected a stronger-than-expected start to 2026.
“Continued favorable demand trends enable us to modestly increase our 2026 outlook,” he said, noting that it secured an important design win with Mahindra, which adds a third Surround ADAS customer and a second customer for its next-generation SuperVision product.
6. STMicroelectronics NV (NYSE:STM)
STMicroelectronics climbed to a new two-year high on Thursday, as investors took heart from its upbeat outlook for the second quarter, alongside a strong revenue performance for the first three months of the year.
In intra-day trading, the stock soared to a record high of $51.40 before trimming gains to end the session just up by 10.81 percent at $49.71 apiece.
In a statement, STMicroelectronics NV (NYSE:STM) reported a 23-percent expansion in its revenues for the first quarter of the year, at $3.095 billion versus $2.517 billion in the same period last year.
Gross margin was at 33.8 percent, or a 40-basis point increase from the 33.4 percent a year earlier.
“Q1 net revenues, excluding the contribution of our acquisition of NXP’s MEMS sensor business, came above the mid-point of our business outlook range, driven mainly by higher revenues in our engaged customer programs in Personal electronics and CECP,” said President and CEO Jean-Marc Chery.
“Gross margin was above the mid-point of our business outlook range mainly due to better product mix,” he added.
Net income, however, declined by 33.7 percent year-on-year to $37 million from $56 million, but marked a significant improvement from the $30 million net loss posted in the fourth quarter of 2025.
Despite the mixed results, STMicroelectronics NV posted an upbeat outlook for the second quarter of the year, with revenues targeted to grow by 24.5 percent to $3.45 billion from $2.77 billion in the same quarter last year.
5. SolarEdge Technologies Inc. (NASDAQ:SEDG)
SolarEdge extended its winning streak to a 4th consecutive day on Thursday, climbing 11.17 percent to close at $47.36 apiece, as investors resumed buying positions ahead of the results of its earnings performance for the first quarter of the year.
Based on its historical earnings reporting dates, SolarEdge Technologies Inc. (NASDAQ:SEDG) is slated to announce its financial and operating highlights between May 4 and 8, 2026.
For the period, SolarEdge Technologies Inc. is projected to report revenues of $290 million to $320 million, or an implied growth of 32 percent to 46 percent from the $219.5 million in the same period a year earlier.
Non-GAAP gross margin is also expected to be in the range of 20 to 24 percent.
In other news, SolarEdge Technologies Inc. earlier this week announced the launch of a new high-capacity, commercial storage system for its medium- to large-scale customers in Europe and Asia.
Called the CSS-OD, the new storage system is capable of powering 197 kWh and features a battery cabinet paired with one or two 50 kW battery inverters, and is scalable up to 1 MW and 4 MWh per site.
Apart from multiple applications and storage optimization modes, the new storage system also boasts safety and cybersecurity protections, simplified installation, and accelerated commissioning.
4. Applied Digital Corp. (NASDAQ:APLD)
Applied Digital soared by 12.09 percent to close at $36.35 apiece after clinching another $7.5 billion lease agreement with a new hyperscaler for its 430 MW AI factory campus in the southern part of the US.
In a statement, Applied Digital Corp. (NASDAQ:APLD) said that it formally inked a 15-year lease agreement with the tenant for its Delta Forge 1 AI factory campus, which bolstered its total contracted revenues to more than $23 billion.
It refused to identify the name of the company, but said that it is a high investment-grade hyperscaler based in the US.
“With this agreement, we now have two US-based investment-grade hyperscalers across our portfolio, marking an important step in the continued diversification of our customer base and strengthening the overall quality and visibility of our contracted revenue. Our priority remains execution–bringing capacity online on schedule and operating it with discipline over the long term,” Applied Digital Corp. Chairman and CEO Wes Cummins said.
Delta Forge 1 will sit on a 500-acre plot of land in the south. It is expected for commercial operations in the middle of 2027.
Built on the company’s repeatable AI Factory model, Delta Forge 1 is engineered to support both training and inference workloads in high-density environments.
In other news, Applied Digital Corp. is looking to raise $300 million in fresh funds from a senior secured bridge facility to support the development of its third building at its Polaris Forge 1 campus. The said building alone will be capable of powering 150 MW of critical IT load.
The balance from the funds will be used for general working capital purposes and transaction expenses.
3. EquipmentShare.com Inc. (NASDAQ:EQPT)
EquipmentShare saw its share prices climb by 14.20 percent on Thursday to close at $24.53 apiece, as investors appeared to have hunted for bargains, having slashed its prices by 25 percent since its market debut, with optimism helped by the resumption of business activities amid the easing tensions between the US and Iran.
A report by Reuters, citing a study by the S&P Global, said that business activities picked up in April after nearly stalling last month.
S&P Global said that the US Composite PMI Output Index, which tracks the manufacturing and services sectors, increased to 52.0 this month from a record low of 50.3 in March. A reading above 50 indicates expansion in the private sector.
For EquipmentShare.com Inc. (NASDAQ:EQPT), news of business expansion could mean more projects and business activities from its clients, thus more equipment rentals.
In other news, EquipmentShare.com Inc. announced a robust earnings performance in full-year 2025, with net income soaring by 1,233 percent to $40 million from only $3 million in 2024. Total revenues increased by 16 percent to $4.379 billion from $3.764 billion year-on-year.
In the fourth quarter alone, net income surged by 30 percent to $65 million from $50 million in the same period a year earlier, while total revenues stood at $1.572 billion, or just 1 percent higher than the $1.553 billion year-on-year.
Earnings aside, EquipmentShare.com Inc. earlier received a “buy” recommendation from Mad Money host and former hedge fund manager, Jim Cramer, underscoring that it is a “profitable company” and that its price is “too low.”
2. PENN Entertainment Inc. (NASDAQ:PENN)
PENN Entertainment snapped a four-day losing streak on Thursday, climbing 16.86 percent to close at $17.26 apiece, as investors took heart from its strong revenues in the first quarter and the looming launch of its online and sports betting platforms.
In an updated report, PENN Entertainment Inc. (NASDAQ:PENN) said that it is underway with its preparations for the launch of its iCasino and online sports betting in Alberta, Canada, on July 13, as the company aims to tap into the rapidly growing market.
For this year alone, the industry is expected to reach $179.7 billion in revenues by 2034, at a compounded annual growth rate of 6.80 percent, a study by ResearchAndMarkets.com said.
The outlook came on the heels of technological advancements, coupled with a more favorable regulatory environment, leading to increased user trust and participation.
“In the United States, the legal environment for online gambling is progressively favorable, with more states legalizing the activity. High smartphone and internet usage make gambling more accessible, while technological advancements in secure payment gateways and immersive experiences build trust. Sports betting has been notably boosted by collaborations between gambling operators and major sports organizations,” the report said.
“Companies like PENN Entertainment are setting examples with apps like the Hollywood Casino, offering extensive gaming options,” it noted.
Meanwhile, PENN Entertainment Inc. announced on Thursday that its revenues surged by 6.37 percent in the first quarter of the year to $1.779 billion from $1.672 billion in the same period last year.
However, it swung to a net loss of $2.8 million from a $111.5 million net income year-on-year.
1. Texas Instruments Inc. (NASDAQ:TXN)
Texas Instruments soared to a new all-time high on Thursday, as investors digested a flurry of positive developments, including strong earnings that propelled an upbeat outlook, a 26-percent price target upgrade, and an upcoming dividend.
In intra-day trading, the stock climbed to its highest price of $284.09 before trimming gains to finish the session just up by 19.43 percent to close at $282.23 apiece. This followed news on Wednesday that it grew its net income by 31 percent to $1.545 billion from $1.179 billion in the first quarter of 2025, as revenues increased by 19 percent to $4.825 billion from $4.069 billion year-on-year.
Texas Instruments Inc. (NASDAQ:TXN) said that revenue growth was primarily driven by strong demand from industrial and data center.
For the second quarter of the year, the company is targeting to grow its revenues by 12 to 21 percent to a range of $5 billion to $5.4 billion, from $4.448 billion in the same period a year earlier. Earnings per share are pegged at $1.77 to $2.05, or an implied growth of 25.5 percent to 45 percent year-on-year.
In line with the results, Texas Instruments Inc. announced the distribution of $1.42 in dividends for each common share held by its shareholders on record as of May 5, 2026, to be paid on May 19.
Meanwhile, investment firm Benchmark raised its price target for Texas Instruments Inc. to $315 from $250, while maintaining a “buy” recommendation following the results.
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