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May 29, 2023
Marvell Technology Group Ltd, RingCentral, Inc., C3.ai, Inc. made Friday's list of top gainers.
Markets closed higher Friday; Nasdaq closed the day at 12,976, having gained 2.19%. S&P 500 ended the session at 4,205.45 after a 1.3% gain.
Have a look at Friday's biggest gainers:
+32.42%: Marvell is up to $67.34 (+2.79%) in pre-market trading after closing Friday's session at $65.51
After closing Friday at $65.51, the integrated circuits developer peaked at $65.75 before giving up early gains and closing at $65.51. Currently, the integrated circuits design company has a market capitalization of $56.28 billion so far this year, it has been outperforming the Nasdaq by 127.58%.
Marvell released its quarterly earnings report Thursday, beating analysts estimates. The company reported earnings of 0.37 per share on revenue of $1.32 billion, topping estimates of 0.29 per share on revenue of $1.30 billion. Since the release of its earnings report, Marvell gained 42.47%.
+17.9%: RingCentral gains 17.9% within $30.14 to $35.58 daily range
RingCentral rallied 17.9% and ended the session at $34.78. The cloud-based comms company's market cap currently stands at $3.40 billion with an average daily volume of 2.79 million shares. So far this year, it has been under-performing the Nasdaq by 19.71%.
+14%: Friday Coherent increased by 14%, ended the session at $36.93
The lasers and photonics technology developer topped out at $37.34 having ended Friday at $36.93. However, despite early momentum, the stock gave up its gains to now trade at $36.93. Coherent is currently trading with a market cap of $4.96 billion with an average daily trading volume of 2.39 million shares.
C3.ai | Up 15.95% to $32.94 Friday
This year has been a bright one for the enterprise-scale AI application developer after trading as low as $10.26 and going on to appreciate by 334.4% year to date. C3.ai's market cap currently stands at $3.70 billion with an average daily trading volume of 19.97 million shares.
The company trades at $32.94 ahead of quarterly performance report which is scheduled to be released Wednesday.
