Ten stocks capped off the week with whopping double-digit gains, outperforming Wall Street’s three major indices, as investors took heart from a flurry of corporate earnings and company-specific developments.

Meanwhile, all three major indices finished in the green, with the Nasdaq leading the gains, up 0.91 percent. The S&P 500 followed with a 0.22 percent jump, Nasdaq increased by 0.20 percent.

Indices aside, this article spotlights the 10 top-performing companies on Friday and breaks down the reasons behind their gains.

To come up with the list, we considered the stocks with a market capitalization of $2 billion and 5 million shares in trading volume.

10. Hewlett Packard Enterprise Co. (NYSE:HPE)

Hewlett-Packard finished the trading week soaring to a new all-time high, as investors repositioned portfolios ahead of the results of its earnings performance in the second quarter of the fiscal year.

In intra-day trading, the stock surged to its highest price of $44.57 before trimming gains to end the session just up by 12.64 percent at $43.04 apiece.

Hewlett Packard Enterprise Co. (NYSE:HPE) is scheduled to release its financial and operating highlights after market close on Monday, June 1. A conference call will be held to elaborate on the results.

For the period, the company is targeted to report revenues between $9.6 billion and $10 billion, or a 26 percent to 31.6 percent increase versus the $7.6 billion posted in the same period last year.

GAAP diluted net earnings per share are also pegged at $0.09 to 0.13, a reversal of the $0.82 loss year-on-year.

Investors are also expected to watch for Hewlett Packard Enterprise Co.’s (NYSE:HPE) outlook for the fiscal year 2026, which was earlier targeted to grow by 17 to 22 percent as previously guided in its last analyst meeting. GAAP diluted net EPS is expected to be $1.02 to $1.22.

Aside from earnings, Hewlett Packard Enterprise Co. (NYSE:HPE) is also set to participate in the Evercore TMT Global Conference on Tuesday, June 2, as well as the Bank of America Global Technology Conference on Wednesday, June 3.

9. International Business Machines Corporation (NYSE:IBM)

International Business Machines extended its winning streak to a third consecutive day on Friday, climbing 12.71 percent to close at $297.80 apiece, after unveiling plans to invest $15 billion in quantum computers and open source software for the AI era.

In separate disclosures, International Business Machines Corporation (NYSE:IBM) told the Securities and Exchange Commission that it plans to invest $10 billion in quantum computing over the next five years, in line with its plan to build the first large-scale fault-tolerant quantum computer by 2029.

The total amount will be allocated for research and development, capital expenditures, ecosystem partnerships, manufacturing scaling, and mergers and acquisitions, among others.

To date, International Business Machines Corporation (NYSE:IBM) has successfully deployed over 90 quantum systems, including more quantum computers than reported by all other industry players combined.

The investment forms part of the company’s promise with the Department of Commerce last week for the development of an American quantum chip foundry (Anderon) to accelerate quantum innovation.

In other news, International Business Machines Corporation (NYSE:IBM) also joined forces with Red Hat for the launch of Project Lightwell—a $5 billion program which aims to establish a trusted enterprise clearinghouse combined with a global force of engineers to identify and fix vulnerabilities at scale.

The clearinghouse is said to serve as a security coordination layer, using advanced AI capabilities to validate and test fixes across an unprecedented volume of open source code.

8. Zeta Global Holdings Corp. (NYSE:ZETA)

Zeta Global saw its share prices increase by 24.90 percent on Friday to finish at $22.89 apiece, as investor sentiment was boosted by its chief executive’s highly optimistic outlook about the company.

In a television interview on the same day, Zeta Global Holdings Corp. (NYSE:ZETA) CEO David Steinberg said that its AI platform called Athena “is winning in the marketplace.”

“The truth is, there are very few companies that have implemented AI, and if you look at data, we started working on artificial intelligence in 2017. We put our AI platform live in 2020, and if you look at our business, we’re now [in our] 4th year of 30+ percent compounded growth on an average basis. That’s because our AI is winning in the marketplace,” he noted.

“Clients that are adopting Athena are seeing an even higher return on marketing spend than 600 percent. Our goal is to get clients to 1000 percent return on investment for every marketing dollar they spend through our platform, and I think that turbulence is causing clients to adopt Athena faster, which is one of the reasons I think why our business is growing faster than we originally expected it to.”

7. ServiceNow Inc. (NYSE:NOW)

ServiceNow extended its winning streak to a third straight session on Friday, climbing 14.38 percent to close at $124.37 apiece, as investors continued to load up portfolios ahead of business announcements next week.

In a notice to investors, ServiceNow Inc. (NYSE:NOW) said that it would participate in three conferences on Wednesday, June 3, namely the Evercore TMT Global Conference, the William Blair 4t6h Annual Growth Stock Conference, and BofA Securities’ Global Technology Conference.

Investors are expected to watch out for the company’s business updates and outlook for the rest of the year.

Investor optimism was further supported by the strong adoption of its platform on Amazon Web Services, having surpassed $1 billion in transactions.

“ServiceNow’s $1 billion milestone reflects something larger than a commercial threshold. Enterprises are consolidating their AI infrastructure around platforms they trust, and increasingly, that means combining cloud and foundation model services with orchestration, governance, and workflow execution. ServiceNow’s platform expansion with AWS is a direct response to that demand: customers who have already committed to both platforms now have a single, connected architecture to deploy and scale AI,” ServiceNow Inc. (NYSE:NOW) said.

6. Forgent Power Solutions Inc. (NYSE:FPS)

Forgent Power climbed to a fresh all-time high on Friday, as investors took heart from an investment firm’s 27-percent price target upgrade for its stock.

In intra-day trading, the stock climbed to its highest price of $55.19 before trimming gains to end the session just up by 14.93 percent at $54.66 apiece.

In a market note, Jefferies raised its price target for Forgent Power Solutions Inc. (NYSE:FPS) to $56 from $44 previously, while maintaining a buy recommendation, following the latter’s strong earnings performance and evidently increasing market share, with orders surging by 308 percent, as compared with the 100 percent growth across its peers.

Meanwhile, Forgent Power Solutions Inc. (NYSE:FPS) announced that it more-than-doubled its attributable net income in the third quarter of fiscal year 2026 to $18.3 million from only $6.88 million in the same period last year. Revenues increased by 103.6 percent to $378.7 million from $186.2 million year-on-year.

Following the results, Jefferies raised its sales and EBITDA growth forecast for the power solutions provider to 15 and 16 percent, respectively.

Forgent Power Solutions Inc. (NYSE:FPS) is a designer and manufacturer of electrical distribution equipment for data centers and power grids. It was listed on the New York Stock Exchange only last February.

Click to continue reading and see the other 5 Stocks With Explosive Returns.

Disclosure: None. Follow Insider Monkey on Google News.