This week, which stocks led the S&P 500 higher? The Weekly Winners column tracks market-moving trends, highlighting the strongest sector momentum, top-performing stocks, and key thematic drivers behind price action.
Below are the top 10 S&P 500 gainers for the week ended August 7:
Multiple Positive Factors Spurred a Surge in COHR's Stock Price, Exceeding 44% This Week.
The powerful move was fueled by a trio of positive developments. First, the Roundhill Optical Communications ETF officially began trading, rallying nearly 3% after its debut and drawing significant capital flows into key names like Coherent.
Second, the U.S. Federal Communications Commission's proposed ban on imports of new Chinese-made optical transceiver modules continued to bolster the domestic substitution thesis, positioning Coherent as a primary beneficiary given its role as a core supplier of optical interconnects for AI data centers.
Third, the company is scheduled to report its fourth fiscal quarter earnings in the coming days, with consensus estimates projecting revenue of approximately $1.986 billion — up 31.65% year-over-year — and adjusted earnings per share of approximately $1.62, representing 76.71% year-over-year growth.
Palantir Stages a Comeback, Notching Its Best Weekly Performance Since 2024
Palantir Technologies Inc. has staged a powerful comeback this week, surging nearly 40% following a blockbuster quarterly earnings report that exceeded expectations. The rally marks the company’s strongest weekly performance since November 2024, completely reversing the narrative that had previously labeled the company an “AI loser.”
Boosted by Positive Earnings, Zebra Shares Surged over 28% This Week
On the news front, the company recently reported Q2 adjusted EPS of $6.35, far exceeding the consensus estimate of $4.36, while revenue of $1.557 billion also surpassed the expected $1.497 billion. The company raised its full-year adjusted EPS guidance to $20.75-$21.25, significantly above the prior market estimate of $18.57.
Additionally, Morgan Stanley raised its price target on Zebra to $360 from $323, maintaining its rating. The average analyst target price stands at $390.93 with an overweight consensus rating. This marks the second consecutive quarter of substantial earnings beats, reflecting robust growth momentum in automatic identification and data capture solutions, with multiple institutional upgrades continuing to support the stock higher.
LITE Surged Due to Optimistic Industry Prospects
Lumentum rose more than 24% this week, fueled by optimism over the AI-driven optical component shortage and robust expectations ahead of the company's quarterly earnings report.
Market analysts note that the AI computing supply chain has entered a deep expansion phase, with downstream demand accelerating upstream capacity expansion. Lumentum's core optical component capacity may be sold out through 2028, significantly reinforcing expectations of a prolonged supply crunch and driving multi-year order visibility.
Gartner Surged Nearly 23% This Week
Gartner (IT) beat across the board in Q2, while the selling environment improved sequentially, with artificial intelligence remaining the key demand driver for clients, Morgan Stanley said in a note emailed Wednesday.
Mid-size enterprises drove mid-single-digit contract value growth, with downsell beginning to stabilize, the firm noted. Client engagement increased by 140 basis points, with digital engagement and human interactions rising 110 basis points and 150 basis points, respectively, as wallet retention improved on quarter and traction grew within new and existing clients, according to the note.
Rising Gold Prices Spurred Newmont Mining to Rise over 20% This Week
On the news front, spot gold prices continued their rally and approached a one-month high, triggering a broad-based surge across the precious metals mining sector.
As the world's largest gold producer, Newmont Mining's stock price is highly sensitive to gold price fluctuations. The company recently reported Q2 adjusted EPS of $2.10, representing a 46.85% year-over-year increase, while reaffirming full-year production guidance. Most investment banks currently maintain buy or outperform ratings, with a consensus target price of approximately $132.48, implying meaningful upside from current levels.
Corning Shares Surged Nearly 20% This Week
Truist Securities upgraded Corning from Hold to Buy, setting a target price of $175. Analysts noted that following approximately 45% of sharp correction in July, Corning's valuation has returned to reasonable levels, with earnings per share expected to grow at a 30% compound annual growth rate through 2029, suggesting meaningful upside from the current price. Institutional forecasts maintain that the global optical communications industry is poised to sustain high growth over the next five years, further reinforcing sector confidence.
Leidos surged over 19% this week
Leidos reported Q2 adjusted earnings of $3.26 per diluted share, beating the analyst consensus estimate of $2.91 by approximately 12%, while revenue of $4.56 billion exceeded the $4.437 billion estimate and grew 7% year-over-year.
Based on strong business execution, the company raised its full-year revenue guidance to $18.2 billion-$18.4 billion and non-GAAP diluted EPS to $12.20-$12.50, both above Wall Street consensus expectations. This marks the second consecutive quarter of beats, following Q1 adjusted EPS of $3.13 versus the $2.90 estimate.
First Solar Rose More Than 18% This Week
On the news front, the company reported Q2 earnings on July 30 after market close, posting EPS of $3.92, significantly exceeding the consensus estimate of $2.86 by 37% and representing a 23% year-over-year increase. Revenue came in at $1.056 billion, largely in line with expectations. The company maintained its full-year revenue guidance of $4.9 billion to $5.2 billion. First-half net income attributable to the parent reached $769 million, up 39.5% year-over-year.
Airbnb Rose More Than 17% This Week
The rally was driven by a comprehensive Q2 earnings beat and robust forward guidance. Q2 revenue reached $3.61 billion, surpassing the consensus estimate of $3.58 billion and growing 17% year-over-year. Adjusted EPS came in at $1.37, beating the $1.25 estimate by 9.6% and rising 33% from the prior year. Nights and experiences booked grew 10% to 148.3 million, while gross booking value increased 16% to $27.2 billion.
More critically, Q3 revenue guidance of $4.69-$4.77 billion significantly exceeded the Street's $4.61 billion consensus by approximately 2-4%, serving as the primary catalyst for the share price jump. The company also raised full-year guidance to at least mid-teens revenue growth and lifted adjusted EBITDA margin expectations to at least 35.5%.
Wedbush upgraded the stock from Neutral to Outperform with a price target increase from $152 to $200. Global travel demand and the FIFA World Cup co-hosted by the U.S., Canada, and Mexico drove North American bookings to their highest growth in nearly three years.
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