Ten companies boasted strong gains last week, thanks to a flurry of positive developments, including impressive earnings and upbeat outlooks, among others.
Meanwhile, on Friday alone, Wall Street’s three major indices finished in the red, led by Nasdaq dropping 0.94 percent, followed by the S&P 500 declining 0.43 percent, and the Dow Jones shedding 0.36 percent.
In this article, we identify the 10 top-performing stocks last week and detail the reasons behind their gains.
To come up with the list, we focused exclusively on stocks with more than $2 billion in market capitalization.
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10. Fluence Energy Inc. (NASDAQ:FLNC)
Fluence Energy jumped by 14.22 percent week-on-week as investors positioned their portfolios ahead of the results of its earnings performance in the first quarter of fiscal year 2026.
Next Wednesday, February 4, Fluence Energy Inc. (NASDAQ:FLNC) is scheduled to release its financial and operating highlights for the first quarter ending December 2025, to be followed by a conference call before market open on Thursday, February 5, to elaborate on the results.
Previously, the company outlined its outlook for the full fiscal year 2026, with revenues targeted between $3.2 billion and $3.6 billion, and adjusted EBITDA of $40 million to $60 million.
Earlier this month, Fluence Energy Inc. (NASDAQ:FLNC) received higher price targets from analysts at Morgan Stanley and RBC.
Morgan Stanley, for its part, raised its price target for the stock to $16 from $14 previously, while maintaining its “equal weight” rating.
Meanwhile, RBC gave a $12 fair value assessment, higher by 20 percent than the $10 it gave prior, while keeping its “sector perform” rating.
In other news, Fluence Energy Inc. (NASDAQ:FLNC) inked a long-term agreement with BrightNight and Cordelio Power for the supply of its Gridstack Pro energy storage solutions for their Pioneer Clean Energy Center joint venture project in Yuma County, Arizona.
The development features a 300 MW AC solar facility with a 300 MW/1,200 MWh battery energy storage system and is expected to provide firm, on-demand capacity for Arizona’s electricity needs.
9. Lumentum Holdings Inc. (NASDAQ:LITE)
Lumentum Holdings saw its share prices jump by 15.52 percent week-on-week as investors loaded portfolios ahead of the results of its earnings performance, while cheering an investment firm’s higher price target for its stock.
According to the company, it is scheduled to announce its financial and operating highlights for the second quarter of 2026 after market close on Tuesday, February 3, 2026. A conference call will be held to discuss the results.
On Friday, Lumentum Holdings Inc. (NASDAQ:LITE) received a $350 price target from Morgan Stanley, a marked upgrade from the $304 previously. However, it maintained an “equal weight” rating for its stock.
“With LITE up ~100 percent since FQ1 results in early November, it is of little surprise that the name was the highest volume for incremental investors as we closed out the year,” Morgan Stanley said in its coverage, adding that the stock move was primarily driven by a more bullish sentiment on earnings power given price hikes leading to better-than-expected margins, optical circuit switching (OCS) opportunities, and exposure to Google through transceivers and OCS.
Morgan Stanley said that investors are now turning more neutral ahead of the upcoming results on concerns about how much higher expectations can still go, particularly as it sees the company will remain “capacity constrained” in many categories.
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