Ten stocks posted impressive double-digit gains week-on-week, as investors continued to digest a wave of strong earnings performance, bullish outlooks, and merger deals, among others.
In this article, we identify the names of last week’s top performers and identify the reasons behind their rallies.
To come up with the list, we focused on the stocks with more than $2 billion in market capitalization and 5 million shares in trading volume.
The New York Stock Exchange building. Photo by Дмитрий Трепольский on Pexels
10. Bloom Energy Corp. (NYSE:BE)
Shares of Bloom Energy jumped by 19.7 percent week-on-week, with investor sentiment generally bolstered by a strong revenue performance in the third quarter of the year.
In an updated report earlier in the week, Bloom Energy Corp. (NYSE:BE) said it grew its third-quarter revenues by 57 percent to $519 million from $330 million in the same period last year, on the back of a 55.7 percent jump in product and service revenues during the same period.
Net loss attributable to shareholders, however, widened by 56 percent to $23 million from $14.7 million year-on-year, but was lower by 46 percent than the $42.6 million net loss in the last quarter.
On Friday, the company upsized its planned convertible senior notes offering to $2.2 billion from $1.75 billion previously, as it seeks to raise more funds to finance research and development, manufacturing activities, and other general corporate purposes.
Under the terms of the issuance, noteholders would be able to convert their holdings to cash, shares, or a combination of both beginning August 15, 2030, until before the notes mature on November 30, 2030.
Every $1,000 note would be converted to 5.1290 Class A common shares, representing a 52.50 percent premium over its $127.85 closing price on October 30, 2025.
9. Twilio Inc. (NYSE:TWLO)
Twilio shares jumped by 19.8 percent week-on-week, as investor sentiment was primarily fueled by an impressive earnings performance and a more bullish growth outlook for full-year 2025.
In an updated report, Twilio Inc. (NYSE:TWLO) said it swung to a net income attributable to shareholders of $37.2 million from a $9.7 million net loss in the same period last year after incurring a $40.95 million operating income, reversing a $4.89 million operating loss year-on-year. Revenues also grew by 15 percent to $1.30 billion from $1.13 billion.
Among its key growth metrics, Twilio Inc. (NYSE:TWLO) raised its revenue outlook to a range of 12.4 to 12.6 percent from the 10 to 11 percent previously.
Organic revenue growth was pegged at 11.3 to 11.5 percent, higher than the 9 to 10 percent targeted prior.
For the fourth quarter alone, revenues were targeted at $1.31 billion to $1.32 billion, or an expected jump of 9.5 percent to 10.5 percent year-on-year.
On Thursday, Twilio Inc. (NYSE:TWLO) also entered into a definitive agreement to acquire Stytch, Inc., an identity platform for AI agents built for developers. The transaction is expected to close in the middle of November, subject to closing conditions.
8. Metsera Inc. (NASDAQ:MTSR)
Metsera saw its share prices jump by 20 percent week-on-week as investors gobbled up shares amid a billion-dollar bidding war between two pharmaceutical giants racing to gain a larger foothold in the booming weight-loss industry.
This followed Novo Nordisk’s confirmation late last week that it submitted a new $8.5 billion offer to acquire Metsera Inc. (NASDAQ:MTSR), which was 16 percent higher than Pfizer’s $7.3 billion offer, despite the latter already securing Metsera’s approval for the merger last month.
Meanwhile, Pfizer said that it was preparing to sue Metsera Inc. (NASDAQ:MTSR) and Novo Nordisk for breaching the agreement.
“It is an attempt by a company with a dominant market position to suppress competition in violation of law by taking over an emerging American challenger. It is also structured in a way to circumvent antitrust laws and carries substantial regulatory and executional risk,” Pfizer said.
“The proposal is illusory and cannot qualify as a superior proposal under Pfizer’s agreement with Metsera, and Pfizer is prepared to pursue all legal avenues to enforce its rights under its agreement,” it noted.
It can be learned that Pfizer earlier this year discontinued the clinical trial for its potential weight loss treatment, danuglipron, due to a case of potential drug-induced liver failure.
Last month, it announced plans to acquire Metsera Inc. (NASDAQ:MTSR), a clinical-stage biopharmaceutical company accelerating the next generation of medicines for obesity and cardiometabolic diseases to establish a foothold in the said industry.
7. Credo Technology Group Holding Ltd (NASDAQ:CRDO)
Credo Technology soared by 20.6 percent week-on-week to touch a new all-time high, as investors cheered the addition of a former Nvidia Corp. executive to its board of directors.
Late last week, Credo Technology Group Holding Ltd (NASDAQ:CRDO) announced the addition of Brian Kelleher as an independent director effective October 27. He replaced Lip-bu Tan, who resigned from his post on October 23 and now serves as chief executive officer of Intel Corp.
“Brian brings deep expertise in designing and developing highly complex semiconductors and AI systems. His distinguished contributions to the field have helped shape the rise of general-purpose GPU computing, which continues to have a profound impact on data infrastructure for AI-driven networks,” Credo Technology Group Holding Ltd (NASDAQ:CRDO) President and CEO Bill Brennan said.
“His vast experience in engineering for accelerated computing applications and AI will prove invaluable as we continue our mission to advance the next generation of high-speed connectivity solutions,” he added.
Prior to joining Credo Technology Group Holding Ltd (NASDAQ:CRDO), Kelleher served as senior vice president of GPU Engineering at Nvidia Corp., during which he led the GPU product development organization and helped usher in the era of general-purpose GPU computing.
6. ASE Technology Holding Co., Ltd. (NYSE:ASX)
ASE Technology surged by 23.3 percent week-on-week, as investors welcomed an improvement in its earnings performance for the third quarter of the year.
In an updated report earlier in the week, ASE Technology Holding Co., Ltd. (NYSE:ASX) said it incurred an 11.7 percent jump in net income attributable to shareholders, at NT$10.87 billion versus NT$9.73 billion in the same period last year.
Net revenues grew by 5.2 percent to NT$168.5 billion from NT$160.1 billion year-on-year, with the bulk of the revenues, or equivalent to 47 percent, contributed by packaging operations, followed by EMS operations at 41 percent, testing operations at 11 percent, and other business segments at 1 percent.
On a quarter-and-quarter basis, ASE Technology Holding Co., Ltd. (NYSE:ASX)
expects fourth quarter revenues to grow by 1 to 2 percent, with gross margin increasing by 70 to 100 basis points.
For the full-year period, ASE Technology Holding Co., Ltd. (NYSE:ASX) said it was set to exceed its target revenues of $1.6 billion from assembly and testing services alone, or an expected growth of 20 percent year-on-year.
“As for machinery CAPEX (capital expenditures), we expect to further increase our full-year CAPEX by another few hundred million US dollars to meet customers’ requests and to support continuing business momentum into 2026. The increase is largely for wafer probing for both AI and non-AI chips, as well as for general capacity ramp and some new initiatives for year 2026,” said ASE Technology Holding Co., Ltd. (NYSE:ASX) Chief Finance Officer Joseph Tung.
5. Illumina, Inc. (NASDAQ:ILMN)
Illumina rallied by 23.4 percent week-on-week after beating its earnings guidance in the third quarter of the year and projecting a lower revenue decline in the full fiscal 2025 period.
In an updated report, Illumina, Inc. (NASDAQ:ILMN) saw net income fall by 79 percent to $150 million from $705 million previously, as revenues ended flat at $1.08 billion.
“Illumina team delivered Q325 results that exceeded the high-end of our guidance range for revenue and earnings, driven by revenue acceleration in clinical, our largest market segment,” said CEO Jacob Thaysen.
“During the quarter, we returned to growth ex-China and are executing on our strategic pillars that support our long-range financial targets,” he added.
For fiscal year 2025, Illumina, Inc. (NASDAQ:ILMN) now expects revenues to decline by only 0.5 percent to 1.5 percent year-on-year, a revision of the upper end range of 2.5 percent previously.
Illumina, Inc. (NASDAQ:ILMN) is one of the leading genomics companies that engages in providing DNA sequencing and array-based technologies for life sciences, oncology, and reproductive health, among others.
4. Travere Therapeutics, Inc. (NASDAQ:TVTX)
Travere Therapeutics soared by 25.3 percent week-on-week as investors took heart from a stellar earnings performance and cues that the company would kick off the last month of the year on a strong note.
Based on its financial statement on Thursday, Travere Therapeutics, Inc. (NASDAQ:TVTX) swung to a net income of $25.7 million in the third quarter of the year from a $54.8 million net loss in the same period last year.
Total revenues expanded by 162 percent to $164.8 million from $62.9 million year-on-year, helped by strong sales from its kidney disease treatment, Filspari.
According to Travere Therapeutics, Inc. (NASDAQ:TVTX), the drug incurred $90.9 million in sales in the US alone, representing a 155 percent growth year-on-year.
“We delivered outstanding commercial performance in the third quarter, reflecting the growing role of FILSPARI as a foundational therapy in IgAN. This success underscores the strength of our commercial execution and the expanding confidence in FILSPARI among physicians and patients,” Travere Therapeutics, Inc. (NASDAQ:TVTX) President and CEO Eric Dube said.
“We continue to be pleased with the progress of our sNDA review in FSGS and are actively preparing for a potential FDA approval early next year. We are also making meaningful progress toward restarting the pivotal HARMONY Study of pegtibatinase and have positioned the company to support long-term growth. We are entering the final months of 2025 in a position of strength as we remain focused on execution and on expanding our impact for people living with rare diseases,” he noted.
3. Lumen Technologies, Inc. (NYSE:LUMN)
Lumen Technologies managed to eke out a strong 27.07 percent gain last week despite ending the last two trading days in the red following a disappointing earnings performance in the third quarter.
Prior to the release of its earnings performance on Wednesday, Lumen Technologies, Inc. (NYSE:LUMN) was notably trading in the green, but later finished the last two trading days lower, after incurring a 319 percent net loss expansion.
In an updated report, Lumen Technologies, Inc. (NYSE:LUMN) said net loss stood at $621 million in the third quarter of the year, markedly higher than the $148 million in the same period last year on the back of higher expenses.
Meanwhile, adjusted EBITDA fell by 32 percent to $571 million from $843 million, while total revenues dipped by 4.16 percent to $3.087 billion from $3.221 billion year-on-year.
Despite the figures, the company reaffirmed its growth outlook for full-year 2025, with total adjusted EBITDA expected to hit $3.2 billion to $3.4 billion.
Capital expenditures were on track to hit $4.1 billion to $4.3 billion, as the company ramps up developments aimed at supporting the artificial intelligence industry.
Earlier this month, Lumen Technologies Inc. (NYSE:LUMN) said that it would join forces with Palantir to integrate Lumen Connectivity Fabric—a next-generation digital networking solution—into the latter’s Foundry and Artificial Intelligence Platform (AIP).
The partnership was aimed at supporting enterprises with their AI adoption by allowing them to move and manage data securely and quickly across multi-cloud and hybrid environments, and enhancing AI applications with reduced latency and cost, while simplifying IT complexity, among others.
2. Viavi Solutions Inc. (NASDAQ:VIAV)
Viavi Solutions soared by 28.7 percent week-on-week, with investor sentiment bolstered by its bullish outlook for its businesses.
In an updated report earlier in the week, Viavi Solutions Inc. (NASDAQ:VIAV) said it expects strong demand to continue for its data center ecosystem as well as aerospace and defense technologies.
“Additionally, the acquisition of highly complementary Spirent product lines from Keysight is expected to further strengthen our position in the data center ecosystem and significantly increase our business footprint in this high-growth market segment,” said Viavi Solutions Inc. (NASDAQ:VIAV) President and CEO Oleg Khaykin.
In the first quarter of fiscal year 2026, the company saw revenues jump by 25 percent to $299.1 million from $238.2 million in the same period last year.
However, net loss expanded by 1,089 percent to $21.4 million from $1.8 million year-on-year.
For the second quarter of the fiscal period, Viavi Solutions Inc. (NASDAQ:VIAV) targets revenues to settle between $360 million and $370 million.
In a market note, investment firm Stifel raised its price target for the company to $18 from $15 previously, while maintaining a “buy” recommendation.
1. Avidity Biosciences Inc. (NASDAQ:RNA)
Avidity Biosciences climbed by 42.1 percent week-on-week, as investors gobbled up shares after confirming a $12 billion merger plan with Novartis AG.
Earlier in the week, Novartis said it entered into an agreement with Avidity Biosciences, Inc. (NASDAQ:RNA) to acquire the latter through its newly formed subsidiary at a price of $72 apiece, as it seeks to strengthen its neuroscience franchise.
Prior to the closing of the merger, Avidity Biosciences, Inc. (NASDAQ:RNA) will transfer all early-stage precision cardiology programs and existing collaborations to its wholly owned subsidiary SpinCo.
The transfer will also include certain Avidity assets. One of its existing partners will get the first chance to negotiate the said assets before other potential bidders.
Meanwhile, shareholders will receive one share of SpinCo for every 10 RNA shares they own, or receive cash if Avidity chooses to sell SpinCo to another company.
Novartis and Avidity Biosciences, Inc. (NASDAQ:RNA) expect the merger to close in the first half of 2026. Until closing, they will continue to operate as separate and independent companies.
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