The stock market saw some significant gains last week, with several large-cap stocks experiencing impressive surges. Here are the top ten performers that caught the attention of investors:
1. Tesla, Inc. (TSLA)
Tesla shares skyrocketed by 21.97% following a strong earnings report, exceeding analysts’ expectations and riding the wave of broader market optimism.
2. Li Auto Inc. (LI)
Li Auto, a prominent Chinese electric vehicle manufacturer, saw its stock increase by 14.02% last week. This surge coincides with the People’s Bank of China injecting 700 billion yuan ($98.36 billion) into the banking system to support economic growth, a move that could positively impact the Chinese automotive industry.
3. Molina Healthcare Inc. (MOH)
Molina Healthcare stock climbed 12.36% after the company reported strong third-quarter results, signaling robust performance in the healthcare sector.
4. Tapestry, Inc. (TPR)
Tapestry, a leading luxury goods company, saw its shares gain 11.83% despite facing a setback in its proposed acquisition of Capri Holdings Limited (CPRI). A judge blocked the deal, but Tapestry has vowed to appeal the decision, indicating their commitment to the acquisition.
5. Applovin Corporation (APP)
Applovin, a mobile advertising platform, enjoyed a 11.30% increase in its stock value last week. This surge was fueled by several analysts raising their price forecasts on the stock, indicating bullish sentiment for the company’s future prospects.
6. Booz Allen Hamilton Holding (BAH)
Booz Allen Hamilton, a global management consulting firm, saw its stock gain 10.99% after reporting better-than-expected Q2 financial results and strong FY25 guidance, demonstrating the company’s solid financial performance and growth potential.
7. Digital Realty Trust, Inc. (DLR)
Digital Realty Trust, a leading data center REIT, saw its shares jump 9.45% after reporting better-than-expected Q3 FFO results and raising FY24 FFO guidance. Several analysts have also raised their price forecasts on the stock, indicating a positive outlook for the company’s growth trajectory.
8. Grab Holdings Ltd. (GRAB)
Grab Holdings, a Southeast Asian ride-hailing and food delivery company, experienced a 9.12% increase in its stock value last week. This surge came after Daiwa Capital initiated coverage on the stock with an Outperform rating and a $4.60 price target, suggesting optimism about the company’s growth prospects.
9. MicroStrategy Incorporated (MSTR)
MicroStrategy, a business intelligence company, saw its shares rise 8.56% amidst a rise in Bitcoin, highlighting the growing correlation between the company’s fortunes and the cryptocurrency market.
10. Philip Morris International Inc. (PM)
Philip Morris International, a multinational tobacco company, enjoyed an 8.03% increase in its stock value after reporting better-than-expected third-quarter results. Several analysts also raised their price targets on the stock, indicating a positive outlook for the company’s performance in the coming quarters.
This list of top-performing large-cap stocks offers valuable insights into the market trends that drove investment activity last week. Whether you’re looking for growth opportunities or just curious about the market’s direction, these stocks provide a compelling starting point for further research and analysis.