Stocks rebounded Friday from the previous session's broad losses to close at record highs as concerns about the spread of COVID-19 variants eased.
Here are some of the market's biggest gainers for Friday:
1. Stamps.com | Increase 64%
Shares of Stamps.com (STMP) - Get Stamps.com Inc. Report jumped after the shipping-solutions specialist agreed to be acquired by software-focused private-equity firm Thoma Bravo for $6.6 billion cash. The PE firm will pay $330 cash for each Stamps.com share, a 67% premium over Thursday's closing price of $197.72.
2. Galectin Therapeutics | Increase 25%
Galectin Therapeutics (GALT) - Get Galectin Therapeutics Inc. Report jumped after the biopharmaceutical company reported positive data from a clinical trial for its treatment for metastatic melanoma and head and neck cancer. The study enrolled nine melanoma patients and five head and neck squamous cell carcinoma cancer patients.
3. General Motors | Increase 4.9%
General Motors (GM) - Get General Motors Company (GM) Report rose after Wedbush analyst Dan Ives began coverage of the auto titan with an outperform rating and an $85 price target. CEO Mary Barra "has led the legacy auto company back to the top of the auto industry in the U.S., accounting for over 17% of the market share in 2020,” Ives wrote.
4. Far Peak Acquisition | Increase 2%
Shares of Far Peak Acquisition (FPAC) - Get Far Peak Acquisition Corporation Class A Report climbed after Bullish, a cryptocurrency exchange company, said it intended to go public through a merger with the special purpose acquisition company, in a deal valued at about $9 billion. Bullish is a unit of blockchain software company Block.one.
5. Carver Bancorp | Increase 21%
Carver Bancorp (CARV) - Get Carver Bancorp Inc. Report continued to rise as one of the country’s oldest and largest African-American-backed financial institutions caught the attention of retail traders. Retail investors were talking up the stock on a subreddit called r/carvstock.