These 10 Firms Are On Fire Today

Wall Street’s main indices were a mixed bag anew on Thursday, with the tech-heavy Nasdaq the sole loser, as investors continued to digest results of more corporate earnings and key economic data.

The Nasdaq was down by 0.18 percent. In contrast, the Dow Jones grew by 0.65 percent while the S&P 500 rose by 0.41 percent.

Beyond the major indices, 10 companies finished stronger on the back of impressive corporate earnings and planned mergers and acquisitions. In this article, we explore the specific reasons behind their surge.

To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million in trading volume.

10. NuScale Power Corporation (NYSE:SMR)

Shares of NuScale Power grew for a sixth straight day on Thursday, adding 4.62 percent to close at $24 each as investors cheered the announcement of huge future projects during the company’s release of its first quarter performance.

At a shareholders’ meeting, NuScale Power Corporation (NYSE:SMR) said that it is in advanced discussions with several potential customers for its small modular reactors that could deliver an operating power plant by 2030. The potential customers include the energy-hungry data centers, government agencies, utilities, coal plant operators transitioning to nuclear, and petrochemical and energy companies.

Additionally, it is also on track to secure the approval of the US Nuclear Regulatory Commission for the uprated 77-megawatt electric design over the next two months.

In the first quarter of the year, NuScale Power Corporation (NYSE:SMR) expanded by 857 percent to $13.4 million from $12 million in the same period last year.

9. On Holding AG (NYSE:ONON)

On Holding saw its share prices grow by 4.62 percent on Thursday to finish at $60.25 apiece following a bullish outlook for the rest of the year.

In a statement earlier, On Holding AG (NYSE:ONON) said it expects full-year net sales to grow by 28 percent from the same period a year earlier.

“[On Holding] continues to experience strong demand across channels, regions, and product categories. The company looks to further build on this global brand momentum with an exciting product pipeline for the rest of the year,” the company said.

In the first quarter of the year, On Holding AG (NYSE:ONON) achieved a 43-percent increase in net sales, at CHF726.6 million versus the CHF508.2 million in the same period last year.

The figure, however, failed to push its net income higher, having ended 38 percent lower at $56.7 million versus $91.4 million year-on-year.

Following the results, investment firm Goldman Sachs maintained its “hold” recommendation on its stock, while giving the company a $64 price target.

On the same day, investment firm Needham raised its price target for On Holding AG (NYSE:ONON), to $62 from $55 previously, while also recommending to buy the stock.