Ten mid-cap companies from diverse sectors stood out on Monday, outperforming the lackluster performance of major indices, thanks to a flurry of corporate developments that sparked investor appetite.
While the firms boasted between 5 and 14 percent gains, the Dow Jones rose by only 0.32 percent, while the S&P 500 and the tech-heavy Nasdaq each inched up by 0.09 percent and 0.02 percent, respectively.
In this article, we list the names of the top-performing stocks and detail the reasons behind their gains.
To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million in trading volume.
10. Oklo Inc. (NYSE:OKLO)
Shares of Oklo rallied for a seventh consecutive day on Monday, adding 5.33 percent to close at $39.73 apiece as investors continued to load up on shares following its strong earnings performance in the first quarter.
Last week, Oklo Inc. (NYSE:OKLO) reported trimming its net loss by 59.16 percent to $9.8 million from the $24.02 million registered in the same period last year, despite incurring a 142-percent jump in operating expenses, worth $17.9 million versus $7.37 million year-on-year.
Further adding to the sentiment was the appointment of new chief technology officer, Pat Schweiger, who boasts decades of experience and expertise in power engineering.
Prior to joining Oklo Inc. (NYSE:OKLO), Schweiger also served as chief engineer at SPARC at Commonwealth Fusion Systems and senior vice president and vice president for TerraPower.
“Pat’s decades of experience and expertise in power engineering will be a tremendous asset to Oklo as we move toward the commercialization of our advanced nuclear technologies,” said Oklo Inc. (NYSE:OKLO) co-founder and CEO Jacob DeWitte.
9. ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)
ZIM Integrated grew its share prices by 5.67 percent on Monday to end at $19.37 apiece following an impressive earnings performance in the past quarter of the year.
In its earnings release, ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) said that net income attributable to shareholders soared by 227 percent to $295.3 million from $90.3 million in the same period last year, as revenues increased by 28 percent to $2 billion from $1.56 billion year-on-year.
ZIM Integrated Shipping Services Ltd. (NYSE:ZIM), however, posted a cautiously optimistic outlook for the rest of the year, reaffirming its target adjusted EBITDA of $1.6 billion to $2.2 billion, and adjusted EBIT worth $350 million to $950 million.
“The operating environment is highly uncertain, driven by a range of factors impacting global trade and economic expectations,” said President and CEO Eli Glickman.
But “we are confident that we have built a resilient business and will continue to benefit from the strategic investment in our fleet with larger, more modern, cost-effective capacity, approximately 40 percent of which is LNG-fueled. Supported by our lower cost base, we believe ZIM is well positioned to drive profitable growth over the long term,” he added.
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