Ten companies soared by whopping double digits on Thursday, defying a broader slump, thanks to a flurry of fresh catalysts, including corporate earnings, higher price targets, and optimistic outlooks.
Meanwhile, the Dow Jones finished flat during the day, while the S&P 500 dipped by 0.04 percent. In contrast, the tech-heavy Nasdaq grew by 0.28 percent.
In this article, let us take a look at the 10 companies that led the charge and explore the reasons behind their strong performance.
To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million in trading volume.
10. Snowflake Inc. (NYSE:SNOW)
Cloud-based data storage provider Snowflake jumped by 13.43 percent on Thursday to close at $203.18 apiece following news that it cracked past the $1-billion revenue mark in the first quarter of fiscal year 2026.
In its financial statement, Snowflake Inc. (NYSE:SNOW) said that revenues increased by 25.7 percent to $1.04 billion during the period from the $829 million registered in the same period last year, on the back of higher product revenues.
However, it remained at a 35-percent higher net loss of $430 million versus $318 million year-on-year.
For the second quarter, Snowflake Inc. (NYSE:SNOW) expects product revenues to grow by 25 percent to a range of $1.035 billion to $1.04 billion.
Following the results, Citi Group gave a Buy recommendation on the company’s stock, while also raising its price target to $245 from $235 previously. The new price target represented a 20.6-percent upside from its latest closing price.
9. Hertz Global Holdings, Inc. (NASDAQ:HTZ)
Hertz Global snapped a two-day losing streak on Thursday, finishing 16.16 percent higher to close at $7.26 apiece as investor sentiment was boosted by an investment firm’s higher price target for its stock.
Deutsche Bank raised its price target for Hertz Global Holdings, Inc. (NASDAQ:HTZ) to $4 from $3 previously, while maintaining a Hold rating.
This followed the car rental giant’s recent addition of a new high-end vehicle brand to its fleet in a bid to meet growing demand for premium services.
Before the official summer season, Hertz Global Holdings, Inc. (NASDAQ:HTZ) added to its fleet the 2025 Jeep Wrangler, said to be one of the best-selling plug-in hybrid vehicles in the US, as it sees a high demand for the variant during the summer.
The launch followed Hertz Global Holdings, Inc.’s (NASDAQ:HTZ) release of its first quarter performance earlier this week. Net loss widened by 138 percent to $443 million from $186 million in the same period last year, while revenues dropped by 13 percent to $1.8 billion from $2.08 billion year-on-year.
8. Hinge Health, Inc. (NYSE:HNGE)
Hinge Health soared by 17.38 percent on its first day as a publicly-listed company, a reflection of strong investor confidence.
During the intra-day trading, Hinge Health, Inc. (NYSE:HNGE) opened at $39.25, reached as high as $40.26 or a 25.8-percent upside from its initial public offering (IPO) price of $32, before traders took early profits to pull its stock price slightly lower towards the end.
Following the IPO, Hinge Health, Inc. (NYSE:HNGE) successfully raised $273 million from the sale of 8.52 million shares out of the aggregate 13 million shares.
According to the company, proceeds from the offer will be used to satisfy tax withholding and remittance obligations related to the net issuance of its Class A and B common shares, in connection with the vesting and settlement of certain restricted stock units and performance-based restricted stock units.
Founded in 2014, Hinge Health, Inc. (NYSE:HNGE) is a digital physical therapy startup based in San Francisco, California, which aims to help patients treat acute musculoskeletal injuries, chronic pain, and carry out post-surgery rehabilitation from anywhere.
7. Pony AI Inc. (NASDAQ:PONY)
Pony AI saw its share prices jump by 19.09 percent on Thursday to close at $20.59 apiece as investors resorted to bargain-hunting following the previous day’s drop, as investors continued to digest its recent earnings performance.
In its financial statement, Pony AI Inc. (NASDAQ:PONY) said net loss widened by 80 percent to $37.4 million from $20.8 million in the same period last year, primarily due to investments its Generation 7 vehicles, one-time expenses associated with its IPO that was only settled during the period, as well as increased employee compensation.
Revenues, on the other hand, grew by 12 percent to $14 million from $12.5 million registered in the same period last year, thanks to a 200-percent jump in its Robotaxi services.
In recent news, Pony AI Inc. (NASDAQ:PONY) partnered with ride-hailing giant Uber Technologies Inc. (NYSE: UBER) to expand and offer its robotaxis in the Middle East through the Uber app.
The two companies also committed to deepening their partnership through expansion into other global markets.
6. Urban Outfitters, Inc. (NASDAQ:URBN)
Urban Outfitters snapped a three-day losing streak on Thursday, jumping 22.84 percent to close at $73.21 as investors cheered the company’s strong earnings performance in the first quarter of the year.
In its financial statement, Urban Outfitters, Inc. (NASDAQ:URBN) said net income expanded by 75 percent to $108 million from the $61.8 million registered in the same period last year, as revenues grew 10.75 percent to $1.329 billion from $1.2 billion year-on-year, on the back of higher sales from both retail and subscription segments.
“Our success was driven by positive sales growth and improved profitability across all brands and segments. We believe these results demonstrate the strength of our brands and the effectiveness of our strategy, giving us confidence in URBN’s continued success,” said Urban Outfitters, Inc. (NASDAQ:URBN) Chief Executive Officer Richard Hayne.
5. D-Wave Quantum Inc. (NYSE:QBTS)
D-Wave Quantum surged by 23.96 percent on Thursday to finish at $19.04 apiece, as investors continued to gobble up shares following the launch of a new quantum computer, which is said to be capable of solving problems beyond the capabilities of a classical GPU-based supercomputer.
Called the Advantage2, it is said to be capable of addressing real-world use cases in areas such as optimization, materials simulation, and artificial intelligence (AI).
“[The launch] marks a significant milestone not just for D-Wave, but for the quantum computing industry as a whole, as we bring to market our sixth-generation quantum computer, a system so powerful that it can solve hard problems outside the reach of one of the world’s largest exascale GPU-based classical supercomputers,” said D-Wave Quantum Inc. (NYSE:QBTS) CEO Alan Baratz.
Customers are now able to access the Advantage2 system through the company’s LeapTM real-time quantum cloud service, which is available in more than 40 countries and offers 99.9 percent availability and uptime, sub-second response times, and SOC 2 Type 2 compliance to meet enterprise needs and security requirements.
4. Rigetti Computing, Inc. (NASDAQ:RGTI)
Rigetti Computing soared to a new 3-month high on Thursday, adding 26.46 percent to finish at $13.86 apiece, in line with the surge in its quantum computing peers.
During the session, Rigetti Computing, Inc. (NASDAQ:RGTI) traded higher alongside D-Wave Quantum Inc. (NYSE:QBTS), Quantum Computing Inc. (NASDAQ: QUBT), and IONQ Inc. (NYSE:IONQ), helped by developments in the quantum computing industry that spilled over into the company. This included a fellow quantum computing firm’s launch of a new computer that is said to be capable of solving problems beyond the capabilities of a classical GPU-based supercomputer.
Additionally, investors snapped up shares in Rigetti Computing, Inc.(NASDAQ:RGTI) following Craig-Hallum’s higher price target of $14. Based on its Thursday close, the company was just 1-percent shy of the said price target.
In recent news, Rigetti Computing, Inc. (NASDAQ:RGTI) said revenues fell by 52 percent to $1.47 million from $3.05 million in the same period last year, as loss from operations expanded by 30 percent to $21.6 million from $16.58 million year-on-year.
3. IonQ, Inc. (NYSE:IONQ)
IonQ saw its share prices jump by 36.52 percent on Thursday to end at $45.79 apiece as investor sentiment was buoyed by its chief executive’s comments bold claim that the company will become the next Nvidia Corp. of the quantum computing sector.
In an interview with Barron’s, IonQ, Inc. (NYSE:IONQ) Chief Executive Officer Niccolo de Masi was quoted as saying that he believes the company “will be the Nvidia player” of the quantum computing sector.
“We’re in the business of quantum just like Nvidia and Broadcom are in the business of classical GPUs,” de Masi told the news outlet. “I believe IonQ will be the Nvidia player. There will be other people that copy us and follow us; they have always copied and followed us,” he said.
De Masi’s comments also spilled over into shares of other quantum computing stocks such as RGTI, QBTS, and QUBT.
2. Advance Auto Parts, Inc. (NYSE:AAP)
Advance Auto Parts soared by 57.04 percent on Thursday to close at $49.17 apiece as investors cheered the company’s maintained full-year outlook despite the threats of higher tariffs.
In its financial statement, Advance Auto Parts, Inc. (NYSE:AAP) maintained its guidance for net sales from continuing operations, between $8.4 billion and $8.6 billion, with same-store sales growth between 0.5 percent and 1.5 percent.
“The recently implemented tariffs have created a highly dynamic economic environment. Despite this, the team is staying focused on the turnaround and our path ahead. We are reaffirming our annual guidance based on performance to date, expected progress on our strategic initiatives for the balance of the year, and our planned mitigation actions for the tariffs currently in effect,” said Advance Auto Parts, Inc. (NYSE:AAP) President and CEO Shane O’Kelly.
In the first quarter of the year, Advance Auto Parts, Inc. (NYSE:AAP) reported a 41-percent increase in net income from continuing operations, at $24 million versus the $17 million registered in the same period last year.
Net sales, however, decreased by 6.8 percent to $2.583 billion from $2.772 billion year-on-year.
1. MNTN, Inc. (NYSE:MNTN)
MNTN Inc. soared by 25.52 percent on its first day as a publicly-listed company, representing a vote of confidence among investors despite a lackluster performance in the broader market.
In its first trading day, MNTN, Inc. (NYSE:MNTN) opened at $21, rallied to as high as $26.88 apiece or a 68-percent jump from its initial public offering (IPO) price of $16, before early profit-taking pulled it back slightly toward the end.
MNTN, Inc. (NYSE:MNTN) successfully raised $187.2 million in fresh funds from the sale of 11.7 million shares consisting of 8.4 million Class A common shares and 3.3 million Class A shares being sold by existing shareholders.
The company said it will not receive any proceeds from the sale of shares of Class A common stock by the selling stockholders.
Founded in 2009, MNTN, Inc. (NYSE:MNTN) is an advertising platform for internet-connected televisions whose chief executive officer is Ryan Reynolds.
While we acknowledge the potential of MNTN, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MNTN and has 10,000% upside potential, check out our report about this cheapest AI stock.
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