The stock market capped off the trading week in the red territory, as investors sold off positions ahead of the long weekend, while digesting inflation data for July.
Among Wall Street’s main indices, the tech-heavy Nasdaq fell the hardest, down 1.15 percent, followed by the S&P 500 with a 0.64-percent gain. The Dow Jones dropped by 0.20 percent.
Indices aside, 10 stocks stood firmer, with five companies notably hitting new all-time highs on the back of a series of positive developments, including corporate earnings and higher outlooks. In this article, we focus on their performance and what bolstered their gains.
To come up with the list, we considered the stocks with at least $2 billion in market capitalization and 5 million shares in trading volume.
A man in long sleeves looking at stock market data. Photo by Tima Miroshnichenko on Pexels
10. Hecla Mining Company (NYSE:HL)
Hecla Mining Company (NYSE:HL) extended its winning streak to a fourth straight day on Friday to touch a new all-time high, as investors loaded positions following the higher spot prices in silver and gold.
At intra-day trading, Hecla Mining Company (NYSE:HL) rallied to a record high of $8.54, before trimming gains to end the day just up by 5.45 percent at $8.51 apiece.
The stock mirrored the rally in both silver and gold prices, following July inflation data that solidified expectations for an interest rate cut.
As of writing, silver spot prices were up by 1.66 percent at $39.70 per troy ounce, while gold spot increased by 0.97 percent to $3,450.29 per troy ounce.
Typically, prices of precious metals such as silver and gold rise when the central bank lowers interest rates, as it makes yields from bonds and savings less attractive, thus shifting funds to non-yielding and safer assets.
Additionally, lower interest rates weaken the US dollar, making it easier for foreign investors to acquire the precious metals at a cheaper price.
9. Equinox Gold Corp. (NYSEAmerican:EQX)
Equinox Gold rallied for a second day on Friday, hitting a new all-time high, as investors cheered the official start of its ore processing at one of its largest gold mining sites in Canada.
During the session, Equinox Gold Corp. (NYSEAmerican:EQX) jumped to its highest price of $8.76, also marking a second straight day of rally.
This followed announcements on Thursday that it began processing of ore at its Valentine Gold Mine in Newfoundland and Labrador—a new site with the capability of producing 2.5 million tons of gold annually.
Equinox Gold Corp. (NYSEAmerican:EQX) said it expects to pour the first batch of gold by next month.
Upon full operations, the Valentine Gold Mine is targeted to produce between 175,000 and 200,000 ounces of gold annually over the first 12 years of its 14-year reserve life.
Additionally, the company announced targets of reaching the maximum production capacity of its Greenstone Gold Mine in northern Ontario by the second quarter of the year.
“Equinox Gold is entering a pivotal phase of growth, with production and cash flow expected to increase meaningfully as Valentine ramps up and Greenstone approaches nameplate capacity,” said CEO Darren Hall.
8. Denison Mines Corp. (NYSEAmerican:DNN)
Denison Mines saw its share prices grow by 5.45 percent on Friday to close at $2.32 apiece, as investors continued to digest optimism over an expected production cut from the world’s largest uranium producer.
Last week, Kazakhstan-based Kazatomprom said that it would scale back production by 10 percent next year to 29,697 tU from 32,777 tU, as it aims to make good on its promise of prioritizing market balance and profitability.
The company said the majority of the decrease will come from its Budenovskoye operations.
In the broader front, Kazatomprom’s production cutback could benefit small players such as Denison Mines Corp. (NYSEAmerican:DNN), as the move would significantly tighten supply and raise uranium prices, and potentially increase profit margins.
In other news, Denison Mines Corp. (NYSEAmerican:DNN) announced that it successfully raised $345 million in fresh funds through the issuance of convertible senior unsecured notes. The notes have a tenor of six years and will mature on September 15, 2031, unless converted, repurchased, or redeemed.
7. SentinelOne, Inc. (NYSE:S)
SentinelOne rallied for a third day on Friday, jumping 7.10 percent to close at $18.86 apiece as investors cheered the company’s higher growth outlook and impressive earnings performance, which fell within expectations.
In its updated report, SentinelOne, Inc. (NYSE:S) said it is now targeting full-year revenues between $998 million and $1.002 billion, higher than the $996 million to $1.001 billion expected previously.
The outlook was supported by a strong earnings performance in the second quarter, with revenues jumping by 22 percent to $242 million from $198.9 million registered in the same period last year.
Annual recurring revenues, on the other hand, broke past the $1 billion mark, ending 24 percent higher year-on-year.
However, the said figures failed to prop up earnings, having widened its net loss by 4 percent to $72 million from $69 million year-on-year.
“Our second-quarter results highlight the momentum of our AI-powered platform, strengthening competitive position, and growing product differentiation. With relentless focus on innovations unifying AI, data, and security, SentinelOne is at the forefront of AI-powered cybersecurity—delivering high growth, driving operating leverage, and expanding our leadership in the industry,” said SentinelOne, Inc. (NYSE:S) CEO Tomer Weingarten.
6. Harmony Gold Mining Company Ltd. (NYSE:HMY)
Harmony Gold snapped a four-day losing streak on Friday, jumping 5.31 percent to end at $13.28 apiece as investors loaded positions following the surge in prices of gold.
As of writing, spot prices of gold were up by 0.97 percent to $3,450.29 per troy ounce, buoyed by a higher probability of an interest rate cut next month.
Gold typically benefits from lower interest rates, as the latter makes yields from bonds and savings less attractive. Additionally, lower interest rates tend to weaken the US dollar, making gold more affordable and appealing to foreign investors.
In other news, Harmony Gold Mining Company Ltd. (NYSE:HMY) reported a stellar earnings performance in the full fiscal year of 2025, with net income jumping by 75 percent to $802 million from $459 million in the same period last year.
Revenues grew 24 percent to $4.07 billion from $3.28 billion year-on-year, primarily driven by a 27-percent increase in the average gold price of $2,620/oz from $1,999/oz year-on-year.
Following the results, Harmony Gold Mining Company Ltd. (NYSE:HMY) declared $8.88 worth of cash dividends to shareholders as of October 10 record. The dividends are payable on October 13, 2025.
5. NexGen Energy Ltd. (NYSE:NXE)
NexGen Energy rallied for a second day on Friday, adding 5.91 percent to close at $7.88 apiece as investors gobbled up shares following positive results from its ongoing drilling program at the Patterson Corridor East (PCE) discovery area.
In a statement on Thursday, NexGen Energy Ltd. (NYSE:NXE) said it found “exciting results” from the summer drill program at the exploration zone, where two drill holes discovered high-grade levels of uranium.
Additionally, the depth of the intense high-grade uranium was discovered at a shallow zone, found 454.4 meters, ranking among the shallowest depths of massive uranium ever drilled by NexGen Energy Ltd. (NYSE:NXE). This means that the deposit could be easier and cheaper to mine.
Since the start of the year, NexGen Energy Ltd. (NYSE:NXE) has successfully drilled more than half of its 43,000-meter program. So far, the company has drilled 79 drill holes, 48 of which have found uranium deposits.
“This program is delivering exactly what we look for in a generational uranium discovery, basement-hosted significant mineralized system, continuity of high-grade mineralization, and growth potential. PCE is evolving in real time into a world-class system in its own right,” said CEO Leigh Curyer.
“NexGen’s highly prospective land package continues to demonstrate exciting results and unmatched opportunity for Canada to take its place as the number one source of uranium in the world,” he underscored.
4. Cipher Mining Inc. (NASDAQ:CIFR)
Cipher Mining soared to a new all-time high on Friday, as investor sentiment was bolstered by the growing interest in Bitcoin.
At intra-day trading, Cipher Mining Inc. (NASDAQ:CIFR) surged to a new high of $8.10 before paring gains to end the day just up by 8.83 percent at $7.64 apiece.
This followed a flurry of positive developments across the sector, including increased Bitcoin adoption as evidenced by a growing number of cryptocurrency treasuries, as well as market clarity backed by regulatory frameworks from none other than the US government.
The latest development, while not directly related to Cipher Mining Inc. (NASDAQ:CIFR), was the establishment of a new Bitcoin mining company by the two sons of President Donald Trump.
In other news, Cipher Mining Inc. (NASDAQ:CIFR) announced that investment firm V3 Holding Ltd.—one of its largest shareholders—disposed of shares worth $8.3 million in its stock between August 26 and 27, at average prices of $6.81 and $7.07, respectively.
Despite the sale, V3 Holding Ltd.’s ownership in Cipher Mining Inc. (NASDAQ:CIFR) remained at 89.7 million.
Cipher Mining Inc. (NASDAQ:CIFR) tripled its net loss in the second quarter of the year to $45.78 million from only $15.29 million in the same period last year. Revenues grew by 18.37 percent to $43.56 million from $36.8 million year-on-year.
Looking ahead, Cipher Mining Inc. (NASDAQ:CIFR) appeared more optimistic about its growth outlook following the commencement of hashing at its Black Pearl Phase 1 ahead of schedule. It said it expects the site to be fully leased by high-performance computing tenants.
3. Affirm Holdings, Inc. (NASDAQ:AFRM)
Affirm Holdings soared to a new high on Friday, as investors cheered the company’s stellar earnings performance in the fourth quarter of fiscal year 2025.
In intra-day trading, Affirm Holdings, Inc. (NASDAQ:AFRM) climbed to its highest 52-week price of $100, before trimming gains to end the day just up by 10.59 percent at $88.46 apiece.
This followed earnings results during the fourth quarter of the year, where it swung to a net income of $69.2 million from a $45 million net loss in the same period last year.
Total revenues grew by 33 percent to $876.4 million from $659 million registered year-on-year, on the back of a 24-percent growth in interest income, a 37 percent increase in network revenues, a 23 percent jump in servicing income, and a 67-percent gain on sales of loans.
For the full-year period, Affirm Holdings, Inc. (NASDAQ:AFRM) hit a net profit of $52 million, reversing a $518-million net loss a year earlier. Revenues increased by 39 percent to $3.2 billion from $2.3 billion year-on-year.
For the full fiscal year of 2026, Affirm Holdings, Inc. (NASDAQ:AFRM) is targeting revenues of around 8.4 percent of the expected $46 billion gross merchandise value, or equivalent to $3.864 billion.
For the first quarter alone, revenues were pegged at $855 million to $885 million, while GMV was targeted at $10.10 billion to $10.40 billion.
2. Alibaba Group Holding Limited (NYSE:BABA)
Alibaba snapped a three-day losing streak on Friday, jumping 12.95 percent to end at $135.05 apiece after posting a stellar earnings performance in the first quarter of fiscal year 2026.
In its updated report, Alibaba Group Holding Limited (NYSE:BABA) said net income attributable to shareholders surged by 67 percent to 40.65 billion yuan from 24.39 billion yuan registered in the same period last year, primarily driven by mark-to-market changes from equity investments and gain from the disposal of local consumer service business of Trendyol, partly offset by the decrease in income from operations.
Revenues grew by 1.89 percent to 247.6 billion yuan from 243 billion yuan year-on-year. Excluding revenue from the disposed businesses of Sun Art and Intime, revenue on a like-for-like basis would have grown by 10 percent year-on-year.
“Our strategic focus on consumption and AI + Cloud delivered strong growth.
Our decisive investment in the quick commerce business achieved key milestones as we won consumer mindshare,” said Alibaba Group Holding Limited (NYSE:BABA) CEO Eddie Wu.
“Looking ahead, we remain committed to investing in our two strategic pillars of consumption and AI + Cloud to capture historic opportunities and drive long-term growth,” he added.
1. IREN Limited (NASDAQ:IREN)
IREN Limited (NASDAQ:IREN) surged to a new record high on Friday, as investors cheered its stellar earnings performance and addition to Nvidia Corp.’s list of preferred partners.
During the session, IREN Limited (NASDAQ:IREN) soared to a new 52-week high of $29.5, or 28 percent higher than its previous close, before trimming gains to end the day just up by 14.93 percent at $26.48 apiece.
This followed the company’s announcement that it swung to a net income of $86.9 million in the full fiscal period of 2025, a reversal from the $28.9 million net loss a year earlier.
Total revenues expanded by 167.6 percent to $501 million from $187.2 million year-on-year, with Bitcoin mining contributing the largest chunk, at $484.6 million, or 163 percent higher than the $184.1 million a year ago.
Revenues from AI cloud services, on the other hand, surged by 429 percent to $16.4 million from $3.1 million in the same comparable period.
In another development, IREN Limited (NASDAQ:IREN) said it secured a Preferred Partner status from Nvidia Corp. following the procurement of 1,200 air-cooled B300 chips and 1,200 GB300s for approximately $168 million. This effectively expanded its GPU fleet to 10,900 NVIDIA GPUs.
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