U.S. stocks experienced a surge on Friday, with the Nasdaq Composite index gaining around 150 points. The positive sentiment was fueled by a string of strong earnings reports from various companies.
Marvell Technology, Inc. (MRVL) saw its shares rise after reporting better-than-expected quarterly sales results. The company posted GAAP earnings of 30 cents per share, aligning with analyst expectations, and revenue reached $1.27 billion, exceeding estimates by 1.65%. This robust performance contributed to a 6.1% jump in Marvell Technology shares, closing at $74.09.
Several other notable companies recorded significant gains during the session. Leslie’s, Inc. (LESL) shares soared by 18.2% to $2.9552. MongoDB, Inc. (MDB) followed suit, gaining 15.8% to $284.62, driven by strong second-quarter financial results and a robust outlook for the future.
Intuitive Machines, Inc. (LUNR) experienced a remarkable 15.3% jump to $5.56 after securing a substantial $116.9 million NASA contract for delivering scientific and technological payloads to the Moon.
Polestar Automotive Holding UK PLC (PSNY) saw its shares increase by 10.7% to $1.1850, further bolstered by Cantor Fitzgerald analyst Andres Sheppard reiterating an Overweight rating and maintaining a $3 price target.
BridgeBio Pharma, Inc. (BBIO) witnessed a 10.1% gain to $27.09, influenced by positive data released by Alnylam Pharmaceuticals concerning its HELIOS-B Phase 3 study of vutrisiran. BridgeBio Pharma’s ATTR-CM therapy, acoramidis, is currently under FDA priority review, with an action date scheduled for November 29.
Cool Company Ltd. (CLCO) rose 9.6% to $12.06, driven by the company’s recent report of better-than-expected quarterly sales. ZEEKR Intelligent Technology Holding Limited (ZK) gained 8.3% to $17.54.
Other notable gainers included Highest Performances Holdings Inc. (HPH), rising 7.9% to $1.9638, Titan Machinery Inc. (TITN) at 7.9% to $15.36, Intel Corporation (INTC) at 7.8% to $21.70 following reports of potential business restructuring, Banco Macro S.A. (BMA) at 7.8% to $60.07 after JP Morgan upgraded its rating, and MINISO Group Holding Limited (MNSO) at 5.5% to $17.23 following strong fourth-quarter results and a share repurchase program announcement.
Frontline pl c (FRO) saw a 4.6% rise to $24.41 due to strong quarterly sales. Autodesk, Inc. (ADSK) climbed 4% to $268.33 after exceeding second-quarter EPS and revenue expectations. CrowdStrike Holdings, Inc. (CRWD) also gained 4% to $282.45, boosted by HSBC analyst Stephen Bersey upgrading the company’s rating and increasing the price target.
