Ten companies kicked off the trading week outperforming the broader market amid a flurry of company-specific developments, including acquisition plans, that bolstered buying appetite. One company was notable for its rally to a new high.
Meanwhile, Wall Street’s three major indices all finished in the red. The Dow Jones fell by 0.45 percent, the tech-heavy Nasdaq dropped by 0.30 percent, and the S&P 500 declined by 0.25 percent.
In this article, let us explore the 10 strong performers on Monday alongside the reasons behind their gains.
To compile the list, we focused exclusively on stocks with $2 billion in market capitalization and at least 5 million shares in trading volume.
A trader cheering his market gains. Photo by Tima Miroshnichenko on Pexels
10. XPeng Inc. (NYSE:XPEV)
XPeng Inc. rallied for a third consecutive day on Monday, adding 5.97 percent to close at $21.41 apiece, as investors turned optimistic about sales prospects over the looming launch of its first hybrid vehicle.
This followed the release of China’s Ministry of Industry and Information Technology’s catalog of expected vehicle launches, which included XPeng Inc.’s (NYSE:XPEV) hybrid version of the X9 variant, X9 EREV.
Shortly after the catalog release, the company’s CEO, He Xiaopeng, confirmed that the new vehicle is scheduled to be launched in the fourth quarter of the year, and that it is a global model that was tested in 20 countries and 330 cities.
The X9 EREV is slightly longer than the all-electric X9, which is equipped with a 1.5-liter engine as an extender.
According to He, XPeng Inc. (NYSE:XPEV) was looking to make X9 EREV a reliable seven-seater family car.
In other news, XPeng Inc. (NYSE:XPEV) is set to announce the results of its second quarter earnings performance before market open next Tuesday, August 19.
9. Albemarle Corp. (NYSE:ALB)
Albemarle Corp. (NYSE:ALB) extended its winning streak to a third straight day on Monday, jumping 7 percent to close at $80.76, as investors turned optimistic about a surge in lithium prices following a huge player’s suspension of one of its mining operations in China.
According to a report by Bloomberg, Chinese firm Contemporary Amperex Technology Co. Ltd. (CATL) suspended its mining operations at the Jianxiawo lithium mine in Jiangxi province amid an expired mining permit that it does not expect to get renewed soon.
While CATL has begun negotiations with the Chinese government for the renewal, it was expecting a prolonged halt amid China’s intensified regulatory oversight of mining companies to curb overcapacity.
Based on data from the Australian government, CATL’s suspended site alone can produce over 46,000 metric tons of lithium carbonate equivalent a year, or roughly 3 percent of the global supply forecast for 2025.
Albemarle Corp. (NYSE:ALB) also rallied alongside its lithium counterparts.
In other news, Albemarle Corp. (NYSE:ALB) announced that its chief operating officer, Netha Johnson, has stepped down from his post. No reason for the departure was divulged. He was replaced by Mark Mummert, effective immediately.
8. IonQ, Inc. (NYSE:IONQ)
IonQ grew its share prices by 7.38 percent on Monday to close at $44.94 apiece as investor sentiment was bolstered by news that a huge public pension fund in the US increased its exposure to quantum computing stocks as part of its portfolio rebalancing.
According to reports over the weekend, the New Jersey State Pension Fund divested its stake in Alibaba Group Holding Ltd. (BABA) and gobbled up shares in quantum computing stocks, namely IonQ, Inc. (NYSE:IONQ), D-Wave Quantum Inc. (NYSE:QBTS), and Rigetti Computing Inc. (NASDAQ:RGTI).
The move sparked buying appetite across the quantum computing sector, given the fund’s reputation as one of the largest fund management agencies in the US.
In other news, IonQ, Inc. (NYSE:IONQ) filed for a prospectus on behalf of several existing shareholders for the sale of more than 13 million IONQ common shares.
IonQ, Inc. (NYSE:IONQ) said it will not receive any proceeds from the proposed sale.
7. CoreWeave Inc. (NASDAQ:CRWV)
CoreWeave extended its winning streak to a third day on Monday, jumping 7.9 percent to finish at $139.78 apiece as investors continued to snap up shares ahead of the release of its second quarter earnings performance on Tuesday, August 12.
Based on information on its website, CoreWeave Inc. (NASDAQ:CRWV) is scheduled to announce its financial and operating highlights after market close. An investor call will be organized to elaborate on the results.
In May this year, the company said it was gunning for its first billion-dollar revenue in the second quarter of the year, specifically at a range of $1.06 billion to $1.1 billion. Adjusted operating income was also pegged at $140 million to $170 million.
For the full-year period, CoreWeave Inc. (NASDAQ:CRWV) previously guided a revenue target of $4.9 billion to $5.1 billion, as well as adjusted operating income of $800 million to $830 million.
In recent news, CoreWeave Inc. (NASDAQ:CRWV) acquired Core Scientific for $9 billion in an all-stock deal. According to both parties, the acquisition will help CoreWeave verticalize its data center footprint to future-proof revenue growth and enhance profitability.
6. e.l.f. Beauty, Inc. (NYSE:ELF)
e.l.f Beauty saw its share prices jump by 9.73 percent on Monday to finish at $111.67 apiece as investors took heart from an investment firm’s bullish rating and price target upgrade for its stock.
In a market note, Morgan Stanley upgraded e.l.f. Beauty, Inc. (NYSE:ELF) to “overweight” from “equal weight” previously, alongside a higher price target of $134 versus $114 prior. The new price suggested a 20-percent upside potential from its latest closing price.
Last August 1, e.l.f. Beauty, Inc. (NYSE:ELF) slapped a 14-percent price hike on its products, saying that it would assess how consumers would respond.
“It will take a couple of weeks for that to fully roll out within retail. And so that is something that we’re watching for,” e.l.f. Beauty, Inc. (NYSE:ELF) CFO Mandy Fields has said.
However, Morgan Stanley posted a more optimistic outlook, saying that consumers typically do not tend to be especially sensitive to price increases “given the relative importance of beauty products to consumers.”
Additionally, it underscored that e.l.f. Beauty, Inc.’s (NYSE:ELF) products are relatively cheaper compared with those from its counterparts, and there is less opportunity for consumers to find more affordable substitutes.
5. Bitmine Immersion Technologies Inc. (NYSEAmerican:BMNR)
Bitmine Immersion extended its winning streak to a fifth consecutive day on Monday, jumping 14.68 percent to close at $58.98 apiece following news that it boosted its Ethereum treasury to nearly $5 billion.
This followed the acquisition of another 317,126 units, from the 833,137 previously, boosting its total ownership to more than 1.15 million, making Bitmine Immersion Technologies Inc. (NYSEAmerican:BMNR) the largest ETH treasury in the world. The treasury carries an average price of $4,311 apiece.
“In just a week, BitMine increased its ETH holdings by $2.0 billion to $4.96 billion… lightning speed in the company’s pursuit of the ‘alchemy of 5 percent’ of ETH,” said Bitmine Immersion Technologies Inc. (NYSEAmerican:BMNR) Chairman Thomas Lee. “We are leading crypto treasury peers by both the velocity of raising crypto NAV (net asset value) per share and by the high trading liquidity of our stock.”
The new round of acquisition followed the company’s $2.9 billion purchase of ETH earlier this month, as part of an ETH Treasury strategy announced on June 30.
4. ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)
ZIM Integrated grew its share prices by 14.9 percent on Monday to close at $17.81 apiece as investors snapped up shares amid news reports that it was set to go private through a $2.4 billion acquisition plan.
According to Israel-based business publication Calcalist, ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) and magnate Rami Unger were mulling over the acquisition of all of the company’s outstanding shares to merge the former with the tycoon’s own shipping company.
The reported offer marks a significant premium to ZIM Integrated Shipping Services Ltd.’s (NYSE:ZIM) market capitalization of $1.87 billion.
If proven, the acquisition would remove ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) from the roster of publicly listed companies on the New York Stock Exchange.
Based on information on its website, ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) is scheduled to announce the results of its financial and operating highlights for the second quarter of the year before market open next Wednesday, August 20. Investors will also be closely watching out for cues and confirmation about the reported privatization.
For full-year 2025, ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) is targeting to generate between $1.6 billion and $2.2 billion in adjusted EBITDA, and $350 million to $950 million in adjusted EBIT.
3. Bausch Health Companies Inc. (NYSE:BHC)
Bausch Health bounced back by 15.83 percent on Monday to close at $6.66 apiece as investors appeared to have hunted for bargains, having traded below the $6 level for seven days in a row.
Monday’s share price marked Bausch Health Companies Inc. (NYSE:BHC) first official claw back to the green territory since the start of the month after hovering for most of the trading days below the $5.89 closing price on July 31.
It picked up to $5.94 on August 5, but only by a slight 0.85-percent gain from July 31’s closing price.
Year-to-date, the company’s shares were down by 17.4 percent.
In recent news, Bausch Health Companies Inc. (NYSE:BHC) expanded its attributable net income by 1,380 percent in the second quarter of the year to $148 million from only $10 million in the same period last year. Revenues also grew by 5 percent to $2.53 billion from $2.4 billion.
For the full-year period, Bausch Health Companies Inc. (NYSE:BHC) raised its revenue guidance to $10 billion to $10.25 billion, as compared with the $9.95 billion to $10.2 billion previously.
2. SoundHound AI Inc. (NASDAQ:SOUN)
SoundHound AI soared by 17.34 percent on Monday to end at $15.9 apiece as investors took path from an investment firm’s upgraded rating for its stock.
In a market note, Ladenburg Thalmann raised SoundHound AI Inc. (NASDAQ:SOUN) to “buy” from “neutral” previously, alongside a higher price target of $16, as compared with the $9 prior.
According to Ladenburg, the upgrade was based on SoundHound AI Inc.’s (NASDAQ:SOUN) increasing deals in the automotive sector that “can give potential upside opportunity.”
“The penetration in Autos is growing as the company recently announced three major automotive brands in the US have rolled out with SOUN Chat AI embedded. This product drives user engagement and helps establish tech leadership in an increasingly competitive space … Management has pegged in-car commerce opportunity for OEMs at $35 billion annually,” it said.
In an updated report, SoundHound AI, Inc. (NASDAQ:SOUN) said it narrowed its non-GAAP net loss in the second quarter of the year by 20 percent to $11.86 million from $14.89 million in the same period last year, but widened its GAAP net loss by 100 percent to $78 million from $37 million year-on-year.
Revenues, on the other hand, soared by 217 percent to $42.68 million from only $13.46 million in the same period last year.
SoundHound AI, Inc. (NASDAQ:SOUN) raised its full-year revenue growth outlook to a range of $160 million to $178 million, from the previous forecast of $156 million to $177 million.
1. TEGNA Inc. (NYSE:TGNA)
TEGNA Inc. soared to a new record high on Monday, as investor sentiment was fueled by reports that it was set to be acquired by Nexstar Media.
At intra-day trading, the company rallied by as high as 30.89 percent to touch $20.04, before paring gains to end the day just up by 29.78 percent at $19.87 apiece.
According to a report by Reuters on Friday, citing people privy to the matter, Nexstar was in advanced talks with TEGNA Inc. (NYSE:TGNA) to acquire the latter’s outstanding shares and that a deal is expected to finalize soon.
A potential deal would market a significant step in the ongoing consolidation in the US industry amid the shifting consumer habits driven by the increasing adoption of streaming.
In an earnings call also on Friday, TEGNA Inc. (NYSE:TGNA) CEO Mike Steib underscored a recent court ruling striking down the “Top Four” rule of the Federal Communications Commission, which prohibits ownership of two top-rated stations in the same industry.
“We believe deregulation is coming and will create significant opportunities. We are open to being a buyer or seller, depending on the opportunities, and are disciplined in our approach,” Steib was quoted as saying.
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