Stocks closed at record highs Friday as investors looked beyond disappointing results from Apple (AAPL) - Get Apple Inc. Report and Amazon (AMZN) - Get Amazon.com, Inc. Report to focus on strong corporate earnings reports.
Here are some of the market's biggest gainers for Friday:
1. U.S. Steel | Increase 12.9%
U.S. Steel (X) - Get United States Steel Corporation Report shares powered higher after the company posted record third-quarter profits while boosting its dividend and unveiling a $300 million buyback program. Net sales more than doubled (up 155%) from the year earlier to just under $6 billion. The company raised its dividend to 5 cents a share.
2. Lululemon Athletica | Increase 5.1%
Shares of Lululemon Athletica (LULU) - Get Lululemon Athletica Inc Report rose after JPMorgan analyst Matthew Boss raised his price target on the apparel retailer to $570 from $500, while keeping an overweight rating on the shares. After meeting with management and conducting field work, the analyst said the stock's risk/reward balance remains favorable.
3. VeriSign | Increase 5.7%
VeriSign (VRSN) - Get VeriSign, Inc. Report shares jumped after the provider of domain-name-registry services beat Wall Street's earnings expectations. Revenue totaled $334 million. up 5.1% from a year earlier. Net income came to $157 million, or $1.40 a share, compared with $171 million, or $1.49 a share, in the year-earlier quarter.
4. AbbVie | Increase 4.6%
Shares of AbbVie (ABBV) - Get AbbVie, Inc. Report advanced after the pharmaceutical company reported third-quarter earnings beat analysts' forecasts. AbbVie raised its 2021 adjusted profit forecast for the third time this year and said it expected its newer drugs to recreate the success of its Humira over the next few years, Reuters reported.
5. Newell Brands | Increase 5.1%
Newell Brands (NWL) - Get Newell Brands Inc Report shares moved higher after the household-products company reported better-than-expected third-quarter earnings and raised its guidance. Adjusted earnings came to 54 cents a share, beating the FactSet consensus of 50 cents.