Ten stocks stood their ground on Thursday, boasting double-digit gains amid a pessimistic broader market, thanks to strong earnings performance and a series of merger news that boosted buying appetite. Of the 10 firms, nine notably touched new all-time highs.
Meanwhile, Wall Street’s major indices all finished in the red, led by the Nasdaq, which fell 1.57 percent, followed by the S&P 500, which declined 0.99 percent, and the Dow Jones, which dropped 0.23 percent.
In this article, we spotlight the 10 companies that led the charge on Thursday and explore the reasons behind their gains.
To compile the list, we focused on stocks with a market capitalization of more than $2 billion and a trading volume of 5 million shares.
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10. Immunovant Inc. (NASDAQ:IMVT)
Immunovant grew by 14.64 percent on Thursday to close at $24.82 apiece as investors gobbled up its shares ahead of the results of its third quarter earnings performance in the next few days.
According to Immunovant Inc. (NASDAQ:IMVT), it is set to announce the results of its financial and operating highlights before market open on November 10, 2025. A conference call will be held to elaborate on the results.
In the second quarter of the year, the company widened its net loss by 38 percent to $120.6 million from $87.15 million in the same period last year, as total operating expenses grew by 35 percent to $127 million from $94 million year-on-year.
In other developments, traders also may have positioned their portfolios following unconfirmed buzz that Immunovant Inc. (NASDAQ:IMVT) is set to be acquired by one of its largest shareholders, Roivant Sciences Ltd.
9. Indivior PLC (NASDAQ:INDV)
Indivior climbed for a third straight day on Thursday to reach a new all-time high, as investors cheered a stellar earnings performance and a highly optimistic business outlook for the rest of the year.
At intra-day trade, the stock soared to its highest 52-week price of $30.55 before paring gains to end the day just up by 15.41 percent at $29.13 apiece.
In an updated report, Indivior PLC (NASDAQ:INDV) said it grew its net income by 91 percent to $42 million from $20 million in the same period last year, as net revenues inched up by 2.3 percent to $314 million from $307 million year-on-year.
The figures put the company at a $108 million net income in the first nine months of the year, reversing a $14 million net loss in the same period a year earlier. However, revenues dipped by nearly 1 percent to $881 million from $889 million year-on-year.
Following the results, Indivior PLC (NASDAQ:INDV) raised its full-year revenue growth guidance to a range of $1.18 billion to $1.22 billion from $1.03 billion to $1.08 billion previously.
Revenues from its Sublocade treatment alone are expected to rake in between $825 million and $845 million, higher than the $765 million to $785 million previously targeted.
Adjusted EBITDA outlook was also upgraded to $400 million to $420 million, versus $275 million to $300 million prior.
8. Cardinal Health Inc. (NYSE:CAH)
Cardinal Health propelled to a new 52-week high on Thursday, as investors snapped up shares after posting an impressive earnings performance and raising its growth outlook for fiscal year 2026.
At intra-day trade, Cardinal Health Inc. (NYSE:CAH) soared to its highest price of $195.15 before paring gains to finish the day just up by 15.43 percent at $189.84 apiece.
In an updated report, Cardinal Health Inc. (NYSE:CAH) said it was able to grow its attributable net income for the first quarter of the fiscal year by 8 percent to $450 million from $416 million in the same period last year, as revenues jumped by 22 percent to $64 billion from $52 billion year-on-year.
“We are pleased with our strong broad-based operational and financial performance to begin fiscal 2026. This outstanding first quarter reflects our focused execution across each of our operating segments and provides a solid foundation as we carry forward. As a result, we are raising our fiscal 2026 outlook,” said Cardinal Health Inc. (NYSE:CAH) CEO Jason Hollar.
For the full-year period, Cardinal Health Inc. (NYSE:CAH) said it now targets non-GAAP attributable diluted earnings per share to grow between 17 and 20 percent to a range of $9.65 to $9.85, or a $0.35 increase from the prior range of $9.30 to $9.50, taking into account the strong first quarter and expected contributions from the acquisition of Solaris Health, which it anticipates to complete in early November.
7. Insmed Inc. (NASDAQ:INSM)
Insmed rallied for a fourth straight day to reach a new all-time high, as investors took heart from a highly optimistic business outlook for the full-year period, despite widening its net loss in the third quarter.
At intra-day trading, the stock soared to its highest 52-week price of $194.70 before trimming a few cents to end the day just up by 16.33 percent at $194.22 apiece.
In an updated report, Insmed Inc. (NASDAQ:INSM) said it expects global revenues from Arikayce—its treatment for MAC bacteria infection and so far its largest revenue contributor—to grow between 15 and 18 percent to a range of $420 million to $430 million, versus the $405 million to $425 million projected previously.
In the third quarter alone, revenues from Arikayce grew by 22 percent to $114.3 million from $93.4 million in the same period last year, pushing the company’s total revenues higher by 52 percent to $142.3 million from $93.4 million in the same period last year.
Brinspuri, Insmed Inc.’s (NASDAQ:INSM) treatment for non-cystic fibrosis bronchiectasis (NCFB), also began generating revenues of $28.1 million during the quarter.
Insmed Inc. (NASDAQ:INSM), however, expanded its net loss by 68 percent to $370 million from $220 million in the same period last year, putting the nine-month tally at a 40 percent higher net loss of $948 million versus the $678 million a year earlier.
6. CH Robinson Worldwide, Inc. (NASDAQ:CHRW)
CH Robinson surged to a fresh record high on Thursday, as investor sentiment was bolstered by a double-digit surge in net profits and a higher growth outlook for full-year 2026.
At intra-day trading, the stock soared to its highest price of $158.70 before paring gains to end the day just up by 19.71 percent at $154.88 apiece.
In an updated report, CH Robinson Worldwide, Inc. (NASDAQ:CHRW) said that it was able to grow its net income by 68 percent to $163 million from $97 million in the same period last year, on the back of a higher operating income due to a decrease in operating expenses.
Revenues, on the other hand, dropped by 10.9 percent to $4.1 billion from $4.6 billion year-on-year, primarily due to lower pricing in both truckload and ocean services, coupled with a decline in the latter’s volume, as well as the divestment of its Europe Surface Transportation business.
Looking ahead, CH Robinson Worldwide, Inc. (NASDAQ:CHRW) said it is targeting a higher operating income of $965 million to $1.04 billion for full-year 2026, amid confidence about its business strategy and execution, as well as runway for improvement.
5. Metsera Inc. (NASDAQ:MTSR)
Metsera rallied to a fresh all-time high on Thursday, as investor optimism was bolstered by a billion-dollar bidding war between pharmaceutical giants Pfizer Inc. and Novo Nordisk.
In intra-day trading, Metsera Inc. (NASDAQ:MTSR) jumped to a new 52-week high of $66.10 before trimming gains to end the day just up by 22.06 percent at $63.73 apiece.
This followed confirmation from Novo Nordisk that it submitted an $8.5 billion offer to acquire Metsera Inc. (NASDAQ:MTSR), 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, a clinical-stage biopharmaceutical company accelerating the next generation of medicines for obesity and cardiometabolic diseases, as it races to establish a foothold in the booming weight-loss drug market.
4. Globalstar, Inc. (NASDAQ:GSAT)
Globalstar grew its share prices to a new all-time high as investors snapped up shares following news that it was in early negotiations with Elon Musk-led SpaceX for a potential merger.
During the session, Globalstar, Inc. (NASDAQ:GSAT) jumped to its highest 52-week price of $54.57 before trimming gains to end the day just up by 22.24 percent at $50.78 apiece.
Bloomberg reported on Thursday, citing people privy to the matter, that Globalstar, Inc. (NASDAQ:GSAT) has held early discussions with SpaceX for a potential sale, among other prospective companies.
Additionally, Globalstar, Inc. (NASDAQ:GSAT) was reportedly working with an investment bank to assist in the sale process, although it was not guaranteed, and it could still opt to remain independent.
Apple Inc., which earlier invested $1.5 billion in Globalstar, Inc. (NASDAQ:GSAT), will possibly have a say in the proposed deals, the report added.
The Information earlier quoted Globalstar, Inc. (NASDAQ:GSAT) Chairman James Monroe that he was open to selling the company for $10 billion.
3. Viavi Solutions Inc. (NASDAQ:VIAV)
Viavi Solutions rallied to a fresh record high on Thursday, as investors took heart from an investment firm’s higher price target for the company.
During the session, Viavi Solutions Inc. (NASDAQ:VIAV) soared to a new 52-week high of $17.43 before trimming gains to end the day just up by 22.32 percent at $17.10 apiece.
In a market note, investment firm Stifel raised its price target for the company to $18 from $15 previously, while maintaining a “buy” recommendation.
This followed results of Viavi Solutions Inc.’s (NASDAQ:VIAV) earnings performance in the first quarter of fiscal year 2026, with revenues jumping by 25 percent to $299.1 million from $238.2 million in the same period last year.
However, the company expanded its net loss 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.
2. FormFactor Inc. (NASDAQ:FORM)
FormFactor saw its share prices hit a new all-time high on Thursday, after beating its revenue guidance for the third quarter of the year.
At intra-day trade, the stock jumped to its highest price of $61.10 before trimming gains to end the day just up by 24.16 percent at $59.25 apiece.
In an updated report, FormFactor Inc. (NASDAQ:FORM) said revenues stood at $202.68 million, beating its $200 million outlook guidance, albeit the figure was 2.5 percent lower than the $207.9 million in the same period last year.
Net income also dropped by 16 percent to $15.66 million from $18.74 million year-on-year.
Looking ahead, FormFactor Inc. (NASDAQ:FORM) is targeting between $205 million and $215 million revenues for the fourth quarter of the year.
“Our outlook for the current fourth quarter builds on the third quarter, as our initiatives of profitability improvement actions continue, and we expect to again deliver sequentially higher revenue, earnings, and most importantly, gross margin,” said FormFactor Inc. (NASDAQ:FORM) CEO Mike Slessor.
1. Guardant Health Inc. (NASDAQ:GH)
Guardant Health soared to a fresh record high on Thursday, as investors took heart from an impressive earnings performance and a higher growth outlook for the full-year period.
During the trading session, Guardant Health Inc. (NASDAQ:GH) jumped to its highest level of $95.88 before paring gains to end the day just up by 27.87 percent at $92.41 apiece.
In an updated report, Guardant Health Inc. (NASDAQ:GH) narrowed its net loss by 13.9 percent to $92.7 million from $107.7 million in the same period last year, while revenues jumped by 38.7 percent to $265 million from $191 million year-on-year, on the back of strong revenues across all its businesses.
Following the results, Guardant Health Inc. (NASDAQ:GH) raised its revenue guidance for the full-year period to a new range of $965 million to $970 million, versus the $915 million to $925 million targeted previously. The said numbers would represent growth of approximately 31 percent from the full-year 2024.
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