Stocks finished highe rFriday despite concern about inflation rates.
Here are some of the market’s biggest gainers for Friday:
1. Salesforce | Increase 5.4%
Salesforce advanced after several analysts reiterated their optimism about the stock following the customer-relationship-management-software provider’s first-quarter print. The company reported adjusted earnings of $1.21 a share on revenue of $5.96 billion.
2. Advanced Micro Devices | Increase 2.1%
Advanced Micro Devices was higher after Benchmark initiated coverage of the chipmaker with a buy rating and $100 price target. Analyst Cody Acree said he expected “the firm’s leadership to continue to drive share gains for at least the next few years.”
3. Nvidia | Increase 4.9%
Nvidia rose after the semiconductor maker reported fiscal-first-quarter earnings and revenue that topped analyst expectations. The company reported quarterly earnings of $3.66 a share on revenue of $5.66 billion. Analysts were expecting earnings of $3.29 a share on revenue of $5.4 billion.
4. Welbilt | Increase 24%
Welbilt surged after Reuters reported that Italian foodservice equipment maker Ali Group made a $3.3 billion cash offer for the producer of kitchen and restaurant equipment. Last month, Welbilt agreed to be acquired by peer Middleby for $2.9 billion of stock. A source told Reuters that Ali Group is offering $23 for each Welbilt share.
5. Hexo | Increase 10%
Hexo jumped after the Canadian cannabis company said it would acquire Canada’s largest privately owned licensed producer, Redecan, for C$925 million, or US$765 million, of cash and stock. Following the transaction, Hexo would be a Canadian volume leader in dried flower across premium, mainstream and value price points.