Ten stocks kicked off the trading week with double-digit gains, with five notably reaching fresh record highs, thanks to a broader market optimism and positive corporate developments.
In this article, we name the 10 said firms and detail the reasons behind their gains.
To come up with the list, we focused on the companies with a $2 billion market capitalization and 5 million shares in trading volume.
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10. Sandisk Corp. (NASDAQ:SNDK)
Sandisk soared to a fresh all-time high on Monday, propelling its share price month-to-date by already 50 percent, as investors loaded portfolios ahead of its inclusion in the Nasdaq 100.
Nasdaq announced late Friday that Sandisk Corp. (NASDAQ:SNDK) is set to replace Atlassian Corp. in the index of top 100 non-financial companies listed on the Nasdaq exchange beginning Monday, April 20.
Following the news, the stock climbed to its highest price of $953.41 before trimming gains to finish the session just up by 11.83 percent at $952.50.
Newly-included stocks in benchmark indices typically see a boost in their share prices prior to the effective date of their inclusion, as funds would have to reposition their portfolios to mirror the composition of the index.
Sandisk Corp.’s (NASDAQ:SNDK) inclusion came ahead of the results of its earnings performance for the third quarter of fiscal year 2026.
According to the company, it is scheduled to release the financial and operating highlights after market close on Thursday, April 30. A conference call will be held to discuss the results.
For the said period, Sandisk Corp. (NASDAQ:SNDK) is expected to report $4.4 billion to $4.8 billion in revenues, or an implied growth of 159 percent to 182 percent from the $1.7 billion reported in the same quarter a year earlier.
Non-GAAP diluted net income per share is expected to be $12 to $14, or a reversal of the $0.30 loss per share a year earlier.
Gross margin, on the other hand, is projected at 64.9 percent to 66.9 percent.
9. Astera Labs Inc. (NASDAQ:ALAB)
Astera Labs extended its winning streak to a 7th consecutive day on Monday, surging 11.91 percent to finish at $166.80 apiece, with investor optimism bolstered by its high double-digit growth outlook for the first quarter of the year.
In a notice to investors, Astera Labs Inc. (NASDAQ:ALAB) said that it would report its financial and operating highlights after market close on May 5, 2026, to be accompanied by a conference call to elaborate on the results.
For the period, the company earlier targeted to grow its revenues by 78 percent to 86 percent year-on-year to a range of $286 million to $297 million, versus only $159.4 million in the same period a year earlier.
GAAP diluted earnings per share are also expected to at least double to a range of $0.36 to $0.38, as compared with the $0.18 in the same comparable quarter.
Also on Monday Astera Labs Inc. (NASDAQ:ALAB) received an optimistic outlook from Alger Capital, saying that it is likely to grow 4x over the next four years.
In an interview with the Closing Bell show on CNBC, EVP Ankur Crawford said that the opportunity for Astera Labs Inc. (NASDAQ:ALAB) is dislocated from its fundamentals
“This company that’s gonna grow by 4x over four years. There’s relatively few companies with this kind of profile, with this kind of quality of management team. It’s dislocated, and in part because people think that there are copper plays and they’ll get left out in the optical transition. I think that’s a complete misnomer because they actually own kind of like what I think of is the central train station for data on-trip and regardless of whether you have optical or you have copper, all the bits have to actually go through an Astera chip,” she said.
8. Circle Internet Group (NYSE:CRCL)
Circle Internet soared by 12.09 percent on Monday to close at $98.68 apiece, as investors loaded portfolios ahead of the results of its earnings performance for the first quarter of the year.
In a statement, Circle Internet Group (NYSE:CRCL) said that it would release its financial and operating highlights for the period before market close on May 11, 2026. A conference call will be organized to discuss the highlights.
The rally came despite an investment firm’s pessimistic coverage for the company last week. In its market note, Compass Point downgraded Circle Internet Group (NYSE:CRCL) to “sell” from “neutral” previously, and cut its price target for the stock to just $2 from $77 prior.
“USDC is more resilient this cycle; however, we believe supply is shifting into lower margin areas,” Compass Point said, adding that they expect gross margins to contract in the first half of the year.
It believes that Circle Internet Group’s (NYSE:CRCL) outperformance since the fourth quarter was driven by the resilience in USDC adoption, alongside growing expectations for margin expansion.
The stock currently trades at 40x optimistic 2027E EBITDA, bolstered by expectations that USDC would reaccelerate during the second quarter.
“As USDC supply remains stagnant and CRCL’s [first half margins] decline, we expect consensus to reduce 2026-27E expectations, where our 2027E EBITDA is 20 percent below the Street,” it noted.
7. Credo Technology Group Holding Ltd. (NASDAQ:CRDO)
Credo Technology climbed by 12.35 percent on Monday to close at $134.36 apiece, following news that it would expand into silicon photonics and optical connectivity in line with its goal to strengthen its foothold in the $6-billion market.
In a statement, Credo Technology Group Holding Ltd. (NASDAQ:CRDO) said that it is set to acquire DustPhotonics—a leading developer of Silicon Photonics Photonic Integrated Circuit (SiPho PIC) technology for optical transceivers, which boasts of a portfolio of on-demand SiPho PIC portfolios including 400G, 800, and 1.6T.
The acquisition alone is expected to boost its optical revenues for the fiscal year 2027 to more than $500 million.
According to Credo Technology Group Holding Ltd. (NASDAQ:CRDO), the acquisition would position itself as a key player in a vertically integrated connectivity stack for scale out and scale up networks, and address both electrical and optical interconnects across the full AI infrastructure buildout.
“This combination positions us at an inflection point in optical. As adoption accelerates across hyperscale AI infrastructure, we expect our optical business to scale into a meaningful and rapidly growing contributor by fiscal 2027,” Chairman, President, and CEO William Brennan said.
Acquisition aside, Jefferies issued a bullish outlook in its first coverage for the stock, assigning a “buy” recommendation and a price target of $175. The figure marked a 30-percent upside potential from its latest closing price.
Jefferies said that its coverage was based on the belief that its current stock price has yet to fully reflect its growth prospects from the booming artificial intelligence industry with the listed firm’s active electrical cables expected to continue benefitting from data center buildouts.
The investment firm also noted its optimism for Credo’s move into optical transceivers through ZeroFlap optics, which it said could help bolster its revenues.
6. Oracle Corp. (NYSE:ORCL)
Oracle rallied for a second day on Monday, soaring 12.69 percent to finish at $155.62 apiece, as investor sentiment was bolstered by the progress of its ongoing cloud computing expansion.
This followed news during the day that it expanded its partnership with Bloom Energy Corp. for the procurement of up to 2.8 gigawatts of fuel cell systems to support its AI cloud computing infrastructure in the US.
Under the agreement, some 1.2 GW of capacity has already been contracted, with deployment underway and would continue until next year.
“By rapidly deploying Bloom’s reliable, efficient fuel cell energy, we are quickly meeting the demands of our customers across the United States,” said Mahesh Thiagarajan, executive vice president for Oracle Corp.’s (NYSE:ORCL) Cloud Infrastructure unit.
“Together, Bloom and Oracle Cloud Infrastructure are building the power foundation and AI infrastructure to accelerate American AI leadership,” he added.
The expanded partnership followed the first deal inked in July last year, under which Bloom Energy delivered a 90-day onsite power for a data center owned by Oracle Corp. (NYSE:ORCL).
In related developments, Bloom Energy said that it officially issued warrants to Oracle Corp. (NYSE:ORCL) in relation to its $2.2 billion convertible senior notes offering announced in October last year. Under the terms of the agreement, each $1,000 note is convertible to 5.1290 Class A common shares.
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