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5 Top Stock Gainers for Friday: Snap, Twitter, Veoneer, Skechers

TheStreet logo TheStreet 7/23/2021 Rob Lenihan
a hand holding a cellphone: 5 Top Stock Gainers for Friday: Snap, Twitter, Veoneer, Skechers © TheStreet 5 Top Stock Gainers for Friday: Snap, Twitter, Veoneer, Skechers

Stocks closed at record highs Friday as earnings optimism lifted Wall Street to all-time highs.

Here are some of the big movers in the stock market on Friday:

1. Snap | Increase 23.9%

Snap shares jumped after the social media company said user growth during its second quarter jumped the most in four years.

Revenue at the parent of mobile app Snapchat more than doubled to $982.1 million, easily beating analysts' estimates of $846 million.

2. Twitter | Increase 3%

Shares of Twitter rose after the social media company's second-quarter results and sales easily beat analysts' expectations and its third-quarter outlook topped forecasts.


Video: Snap beats on top and bottom, stock soars (CNBC)

Revenue rose 74% from a year ago to $1.19 billion, while analysts called for $1.07 billion in the latest quarter.

3. Veoneer | Increase 56.6%

Veoneer skyrocketed after Canadian auto parts maker Magna International agreed to buy its Swedish rival for about $3.8 billion in cash.

Magna said that the acquisition will build in the company's advanced driver assistance systems business.

4. Skechers USA | Increase 5.9%

Shares of Skechers USA jumped after the footwear company beat Wall Street's second-quarter earnings expectations.

Revenue surged 127.3% from a year ago to $1.66 billion. Analysts from B. Riley and Deutsche raised their price targets for the company's shares fallowing the earnings report.

5. Trade Desk | Increase 9.5%

Trade Desk surged after Stephens analyst Nicholas Zangler upgraded the ad technology company to overweight from equal weight with an $85 price target as he took over coverage of the stock.

While noting that valuation is his "biggest hangup," Zangler said he believes Trade Desk's dominant positioning as the independent demand side platform of choice makes the stock a compelling pick and views the proliferation of Connected TV as "a worthwhile catalyst."

This article was originally published by TheStreet.
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