Ten stocks soared higher on Monday, mimicking a rally in the broader market, as investors took heart from Iran’s willingness to end the war in the Middle East.
Wall Street’s major indices all finished in the green, led by the Nasdaq jumping 1.22 percent, followed by the S&P 500, rising 1.01 percent, and the Dow Jones, up 0.83 percent.
In this article, we spotlight the 10 of the top-performing companies on Monday and detail the reasons behind their gains.
To come up with the list, we only considered the stocks with a $2 billion market capitalization.
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10. Micron Technology (NASDAQ:MU)
Micron Technology rallied for a second day on Monday, jumping 3.68 percent to close at $441.80 apiece, as investors loaded portfolios ahead of the results of its earnings performance.
In a notice to its investors, Micron Technology (NASDAQ:MU) said that it would release its financial and operating highlights for the second quarter of fiscal year 2026 after market close on Wednesday, March 18. A conference call will be held to discuss the results.
For the said period, the company is targeting to report GAAP revenues of $18.70 billion, plus or minus $400 million. Gross margin is also expected at 7 percent, plus or minus 1 percent, while diluted earnings per share are pegged at $8.19, plus or minus $0.20.
Earnings aside, Micron Technology (NASDAQ:MU) over the weekend announced the completion of its acquisition of Powerchip Semiconductor Manufacturing Corporation’s P5 site in Miaoli County, Taiwan.
The new site will complement its existing operations in Taichung. The site includes approximately 300,000 square feet of existing 300mm cleanroom space and will support increased production of DRAM products, including HBM.
Micron Technology (NASDAQ:MU) began preparations for the new Tongluo site following the deal announcement in January 2026 and will now kick off with the retrofitting of the existing cleanroom.
The Tongluo site is expected to support product shipments from the existing fab beginning in fiscal 2028.
It is also planning the next phase of expansion at the site, with construction set to begin by the end of fiscal 2026 on a second facility of comparable scale, adding approximately 270,000 square feet of cleanroom space.
9. Sandisk Corp. (NASDAQ:SNDK)
Sandisk saw its share prices increase by 6.35 percent on Monday to close at $703.63 apiece, as investors resumed buying positions on hopes for the looming end of war in the Middle East.
Sandisk Corp. (NASDAQ:SNDK) mimicked the rally in the wider market, primarily buoyed by news that Iran has already expressed intentions to end the ongoing war, albeit underscoring that it never sought a ceasefire with the US and Israel.
“We don’t ask for a ceasefire, but this war must end in a way that our enemies never again think about repeating such attacks,” Iranian Foreign Minister Abbas Araghchi said.
“They now understand what kind of nation they are dealing with,” he noted, adding that the country was ready to “take the war wherever necessary.”
The comment sparked optimism for the broader market, but was negative for the crude oil industry, with benchmark indices WTI and Brent both shedding more than 4 percent and 2 percent, respectively, at $94 and $100 per barrel.
Meanwhile, Sandisk Corp.’s (NASDAQ:SNDK) rally was supported by more funds shifting to the technology sector as investors flee industries that are seen to be more vulnerable to the ongoing tensions.
Last year, Sandisk Corp. (NASDAQ:SNDK) expanded its net income in the second quarter of fiscal year 2026 by 672 percent to $803 million from only $104 million in the same period a year earlier. Revenues, on the other hand, rose by 61 percent to $3.025 billion from $1.876 billion.
8. Tencent Music Entertainment Group (NYSE:TME)
Tencent Music Entertainment Group (NYSE:TME) extended its winning streak to a third consecutive day on Monday, jumping 6.48 percent to close at $15.11 apiece, as investors loaded portfolios ahead of the results of its earnings performance last year.
In a notice on its website, Tencent Music Entertainment Group (NYSE:TME) said that it would release its financial and operating highlights for the fourth quarter and full-year periods before market open on Tuesday, March 17 EDT. A conference call will be held to elaborate on the results.
Analysts are expecting Tencent Music Entertainment Group (NYSE:TME) to report $0.23 in earnings per share and revenues of $1.22 billion. The company has beaten revenue estimates 75 percent of the time.
Earnings aside, the rally can also be partly attributed to the overall market optimism, as investors cheered Iran’s openness to end the ongoing tensions in the Middle East.
“We don’t ask for ceasefire, but this war must end, in a way that our enemies never again think about repeating such attacks,” Iranian Foreign Minister Abbas Araghchi was quoted as saying.
“They now understand what kind of nation they are dealing with,” he noted, adding that the country was ready to “take the war wherever necessary.”
7. Circle Internet Group (NYSE:CRCL)
Circle Internet extended its winning streak to a third consecutive day on Monday, soaring 9.06 percent to close at $125.83 apiece, after ClearStreet turned bullish for its stock and raised its price target by 48 percent.
In a market note, the investment firm upgraded Circle Internet Group (NYSE:CRCL) to “buy” from “hold” previously, while raising its price target to $136 from $92.
It said the coverage reflected its optimism for the further adoption of its USDC stablecoins, having surged last month, suggesting that more financial institutions and consumers continue to embrace the digital asset.
Additionally, Clear Street said that the ongoing tensions in the Middle East may have propped up the use of USDCs, with a huge number of people using the latter for remittances and cross-border transactions.
“Through this uncertain period, USDC market capitalization continued to trend higher, even as broader equity and crypto markets declined, suggesting demand was driven by transactional utility rather than speculative positioning,” Clear Street said.
Circle Internet Group (NYSE:CRCL) rakes in a huge chunk of its revenues from its USDC stablecoins, which means that the latter’s growth is crucial to its success.
6. Coupang Inc. (NYSE:CPNG)
Coupang snapped a three-day losing streak on Monday, jumping 10.84 percent to finish at $20.45 apiece, as investors mirrored a key executive’s acquisition of a $136.5 million stake in its shares.
In a regulatory filing, Coupang Inc. (NYSE:CPNG) said that its director, Neil Mehta, purchased more than 2.01 million of its shares from March 11 to 13, at prices ranging from $18.3994 to $18.6787 apiece.
Following the transactions, Mehta now owns more than 55.3 million indirect shares of Coupang Inc. (NYSE:CPNG), with 78,773 shares directly owned.
Coupang Inc. (NYSE:CPNG) is a China-based technology company with businesses across retail, restaurant delivery, video streaming, and fintech services, among others.
Last year, it grew its net income attributable to shareholders by 35 percent to $208 million from $154 million in 2024. Revenues increased by 14 percent to $34.5 billion from $30.27 billion year-on-year.
In the fourth quarter alone, Coupang Inc. (NYSE:CPNG) swung to a net loss attributable to shareholders of $26 million from a $156 million net income attributable to shareholders in the same period a year earlier.
Revenues soared by 11 percent to $8.8 billion from $7.96 billion.
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