The stock market may have registered losses on Friday, but remained firmer on a week-on-week basis, with the bellwether indices continuing to track further developments from the growing trade tensions globally.
On a weekly basis, the Dow Jones was up 0.5 percent, the S&P 500 grew 1.47 percent, while the tech-heavy Nasdaq increased 2.57 percent.
Meanwhile, ten companies mirrored broader market optimism, booking as much as double-digit gains in just the last five trading days. In this article, we have identified 10 of last week’s top performers and detailed the reasons behind their performances.
To come up with the list, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
A person holding a cup of coffee while reading stock market data on the phone. Photo by Anna Nekrashevich on Pexels
10. DraftKings Inc. (NASDAQ:DKNG)
Shares of DraftKings surged by 26.5 percent week-on-week, ending Friday’s trading at $53.49 apiece versus the $42.28 reported a week earlier as investors took heart from the company’s bullish outlook for the year, with the company raising its low-end revenue guidance.
In its latest earnings release, DKNG said it now expects revenues for fiscal year 2025 to settle anywhere between $6.3 billion and $6.6 billion, as compared with the $6.2 billion to $6.6 billion targeted previously.
The new range would represent a 35-percent growth from actual revenues posted in 2024.
In the fourth quarter of the year, DKNG widened its net loss by 200 percent to $134 million from $44.6 million registered in the same period last year, as revenues dropped by 13 percent to $1.39 billion from $1.23 billion.
Despite the decline, net losses in full year 2024 narrowed by 36.8 percent to $507 million from $802 million in 2023, as revenues grew 30 percent to $4.77 billion from $3.66 billion year-on-year.
9. VNET Group Inc. (NASDAQ:VNET)
VNET Group saw its share prices jump by 28 percent last week, touching a new all-time high, as investors bought up on hopes that it would be one of the Chinese data companies to benefit from the booming artificial intelligence industry in China.
Since the emergence of DeepSeek, VNET shares, alongside its Chinese peers listed on the US stock exchange, have been earning a boost from advancements in the AI platform, particularly as the latter announced that it was able to train its models using cheap models.
Last year, VNET signaled plans to invest heavily in AI in a bid to enhance its service offerings to streamline operations and improve customer experience, among others.
In its last earnings call, VNET Group said it would earmark higher capital spending this year to support the robust demand for its wholesale services. It underscored that it would work closely with its strategic suppliers and maximize the synergies in order to ensure that its capital spending would grow at a steady pace.
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