U.S. stocks finished Friday with mixed results as the Nasdaq Composite managed to add around 100 points, providing some momentum heading into the weekend.
Friday Movers: Worthington Steel Jumps on Acquisition Deal While Tech Stocks Rally
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Worthington Steel Makes European Acquisition Play
Worthington Steel Inc (WS) grabbed attention with a sharp rally after announcing it's taking a serious swing at European expansion. The company signed a Business Combination Agreement with Kloeckner & Co, planning a voluntary public offer to scoop up all outstanding shares of the German steel distributor at 11 euros per share, which translates to about $12.8 per share.
The deal comes with management's blessing, and the existing leadership team is expected to stick around after the transaction closes. Investors clearly liked what they saw, pushing Worthington Steel shares up 6.9% to $41.43.
Double-Digit Gainers Light Up Trading Screens
Several stocks posted impressive double-digit percentage gains throughout Friday's session, driven by a mix of clinical trial updates, government contracts, and strategic business moves.
Kopin Corp (KOPN) shares rocketed 17.1% to $3.46, leading the pack in percentage terms.
Immunitybio Inc (IBRX) climbed 17% to $4.62 after delivering what looks like genuinely good news on the clinical trial front. The company announced that QUILT-2.005 enrollment has blown past internal expectations and is now more than 85% complete. On top of that, Immunitybio shared updated efficacy and safety results from its ongoing QUILT-106 clinical study, giving investors concrete reasons for optimism.
Zura Bio Ltd (ZURA) rose 17% to $5.49, while Wheels Up Experience Inc (UP) shares jumped 13.4% to $1.06.
AST SpaceMobile Inc (ASTS) gained 11.8% to $113.20 after landing a prime contract position on the U.S. Missile Defense Agency's SHIELD program. That's the kind of government contract win that tends to move the needle for smaller defense and aerospace companies.
Crypto Miner Expands Data Center Footprint
Riot Platforms Inc (RIOT) gained 11.2% to $18.42 after announcing it acquired 200 acres of land at Rockdale and signed a Data Center Lease and Services Agreement with Advanced Micro Devices (AMD). The move signals Riot's continued expansion beyond pure cryptocurrency mining into broader data center operations.
Firefly Aerospace Inc (FLY) surged 10.2% to $32.78, while DBV Technologies SA – ADR (DBVT) gained 10.1% to $20.70.
Figure Technology Solutions Inc (FIGR) gained 9% to $70.80, and Loandepot Inc (LDI) also added 9% to reach $2.91.
Tech Stocks and Insider Activity
Micron Technology Inc (MU) gained 7.9% to $363.35 after Director Teyin Liu bought 23,200 shares at an average price of $337.14 per share. That's roughly $7.8 million worth of stock, and when directors put that kind of money to work, the market tends to pay attention. Insider buying at that scale often signals confidence in the company's near-term prospects.
GE Vernova Inc (GEV) gained 6.7% to $685.56, continuing its strong performance in the energy infrastructure space.
Maxlinear Inc (MXL) gained 6.2% to $20.38 after catching an analyst upgrade. Benchmark analyst David Williams maintained MaxLinear with a Buy rating and raised the price target from $25 to $28, giving the stock some upward momentum.
Ambarella Inc (AMBA) rose 6% to $68.50, rounding out the day's notable gainers.
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