10 Stocks Defying Tech Market Turmoil

Page 1 of 3

US markets finished mixed Friday, with investors continuing to sell technology stocks amid uncertainty about Nvidia Corp.’s future. The Dow Jones was the sole gainer, up 0.10 percent. The Nasdaq fell 0.91 percent, while the S&P 500 declined 0.41 percent.

In contrast, 10 stocks stood firm during the session, boasting gains between 7 and 31 percent. In this article, we identify their names and break down the reasons behind their gains.

To come up with the list, we considered only the stocks with more than $1 billion in market capitalization and 5 million shares in trading volume.

The New York Stock Exchange building. Photo by Дмитрий Трепольский on Pexels

10. Almonty Industries Inc. (NASDAQ:ALM)

Almonty Industries grew its share price by 7.73 percent on Friday to finish at $8.22 apiece, after reporting a strong earnings performance in the third quarter of the year, helped by higher tungsten prices.

During the period, net income increased by 51.2 percent to CA$50.23 million from CA$33.19 million in the same period last year.

Revenues soared 381 percent to CA$41.89 million from CA$8.7 million year-on-year, primarily driven by a significant appreciation in the prices of tungsten APT, with the European APT average price climbing 355 percent to $2,800 per MTU from $615 per MTU in the same period last year.

Income from mining operations amounted to CA$26 million, marking a 1,900 percent surge from CA$1.3 million year-on-year.

The third quarter also marked the same period that the Sangdong mine returned to full operations after 33 years, raising rosy growth prospects for the company in the long-term period.

In September this year, Almonty Industries Inc. (NASDAQ:ALM) received the final certificates required to commercially operate the processing plant and produced the first tungsten, leading to a Phase 2 expansion that is expected to nearly double throughput capacity to 1.2 million tons per year.

“With more than 90 percent of Phase I production already contracted, our focus now is on ramping the plant safely and steadily, and we have support on site working alongside our operators to do exactly that. The same partner is supplying Phase II equipment, including new mills,” Almonty Industries Inc. President and CEO Lewis Black said.

9. Klarna Group PLC (NYSE:KLAR)

Klarna Group climbed by 8.58 percent on Friday to finish at $13.80 apiece, as investors positioned their portfolios ahead of its upcoming earnings while digesting the appointment of a new Finance chief.

In an updated report on the same day, the financial technology firm said that it would release the results of its earnings performance for the third quarter of the year on Tuesday, November 17. A conference call will be held to elaborate on the results.

For the period, the company is expected to report gross merchandise volume of $35 billion to $36 billion, or a 7 to 10 percent growth from the $32.7 billion in the same period last year.

Revenues are targeted at $940 million to $980 million, or 4 to 8.5 percent higher than the $903 million in the same comparable period.

In other news, Klarna Group PLC (NYSE:KLAR) announced the appointment of Chris Koegel as its new chief finance officer beginning January 1, 2027, replacing Niclas Neglen.

Koegel will join the company from Robinhood Markets, where he currently serves as vice president and head of corporate finance and investor relations.

He joined Robinhood in 2022 and has helped the company’s valuation grow from less than $10 billion to $100 billion.

Prior to Robinhood, he served as investor relations head at LPL Financial LLC from 2015 to 2022, after spending 13 years at Bain & Company. Koegel holds a BA in Mathematics from Williams College and an MBA from Dartmouth College.

8. Cerebras Systems Inc. (NASDAQ:CBRS)

Cerebras Systems saw its share prices jump by 11.22 percent on Friday to finish at $108.72 apiece, as investor sentiment was bolstered by its higher growth outlook for full-year 2026 and a record-breaking revenue from cloud and other services.

In an updated report on the same day, Cerebras Systems Inc. (NASDAQ:CBRS) said that it raked in $141.9 million in revenues from cloud and other services, marking a 265 percent jump from the $38.9 million in the same period last year, on the back of strong demand from AI.

This pushed total revenues higher by 55 percent to $210.8 million from $135.7 million year-on-year.

Meanwhile, hardware revenues declined by 28.8 percent to $68.88 million from $96.79 million in the same comparable period.

“We exceeded our guidance across the board for the third quarter in a row and delivered sequential improvements on all core financial metrics,” Cerebras Systems Inc. CFO Bob Komin said.

“We won new marquee customers, including hyperscalers, neoclouds and large enterprises. And we saw our pipeline for high-speed AI inference increase by more than 10x in the quarter,” he noted.

Following the results, the company raised its revenue growth guidance for the full-year 2026 to a range of $940 million to $960 million, versus the $880 million to $890 million in the same period last year.

Gross margin is now expected at 42 to 44 percent, versus 41 to 43 percent earlier.

Page 1 of 3