The Dow ended up over 100 points this past week in a shortened week of trading due to Good Friday.
TheStreet is partnering with CME Group to share the latest trends in the economy. CME Group shares how a weakened U.S. dollar, zero interest rates and pent-up demand may be contributing to the second supercycle this century.
Here are some of the best stocks in the past week by their performance in percentage change at the close of trading Apr. 1. These include stocks over a $10 share price at the time of publishing.
1. ChargePoint | Increased 47.65%
ChargePoint operates as an open electric vehicle charging network. The company provides cloud-based service plans as annual subscriptions for providing tools, data, payment processing, and driver support. ChargePoint serves corporations, utilities, municipalities, shopping centers, and parking services providers worldwide.
The stock jumped Thursday after President Joe Biden presented the details of his $2.25 trillion infrastructure spending plan. Biden's proposal includes a plan to build as many as 500,000 electric-vehicle-charging stations.
As automakers start ramping up their EV offerings to compete with Tesla (TSLA) - Get Tesla Inc Report, electric vehicle charging companies will turn into global giants of the future. ChargePoint stands a good chance to be a global player in this electric vehicle charging industry.
2. Marathon Digital | Increased 42.84%
Marathon Digital (MARA) - Get Marathon Digital Holdings Inc Report is among the leading Bitcoin mining stocks this year along with Cipher Mining and Riot Blockchain. The stock has been rising due to strength in Bitcoin.
Shares rose this week after Marathon Digital announced it was launching a Bitcoin mining pool in a bid to earn bigger and more consistent Bitcoin paydays.
Marathon Digital mines cryptocurrencies, with a focus on the blockchain ecosystem and the generation of digital assets.
3. Futu Holdings | Increased 37.43%
Futu Holdings (FUTU) has cooled off in March as its dramatic rise through February had the stock on the best stocks of the week almost every week to begin the year.
TheStreet Quant Ratings rates Futu Holdings as a Sell with a rating score of a D-.
Two weeks ago Chinese online broker Futu Holdings said it was setting up a base in Singapore to tap a retail investor trading boom in Southeast Asia.
The Tencent Holdings backed company, through its subsidiaries, offers an online brokerage platform that enables individual investors to trade in listed stocks. FUTU Holdings serves customers in the United States, China, and Hong Kong.
4. Cleveland-Cliffs | Increased 28.02%
Cleveland-Cliffs expects adjusted earnings before interest, taxes, depreciation and amortization of $3.5 billion, higher than the Bloomberg analyst consensus of $2.9 billion.
Cleveland-Cliffs projected the U.S. price for hot-rolled coil steel will average $975 a net ton for the rest of the year. Cleveland-Cliffs is scheduled to report its first-quarter results on Apr. 22.
The biggest beneficiaries of President Joe Biden's plan to spend $620 billion on highways, roads and bridges are the steelmakers, but not so much the American ones because American steel is too expensive.
5. United States Steel Corp | Increased 22.73%
The Pittsburgh company said earnings before interest, tax, depreciation and amortization probably will be about $540 million, higher than the $522.1 million average estimates among analysts.
The announcement was followed by a second statement that changed the forecast adjusted earnings per share to $1.02 from 61 cents.
United States Steel operates as an integrated steel producer. The company manufactures flat-rolled and tubular products with production operations in North America and Europe. United States Steel serves the automotive, appliance, container, industrial machinery, construction, and oil and gas industries.
6. Applied Materials | Increased 18.21%
Jim Cramer said he expects strong results from all the semiconductor equipment makers including Applied Materials (AMAT) - Get Applied Materials, Inc. Report. The company will hold its analyst day on Tuesday next week.
Semiconductor-related companies were prominently in the green within the Nasdaq on Thursday.
Applied Materials announced earlier this week that it terminated a plan to acquire Kokusai Electric Corp. as it couldn’t get regulatory approval in a timely fashion.
Among chipmakers in the first quarter, Applied Materials soared more than 50% in its biggest quarterly advance since 1999. The maker of chip production equipment soared amid a supply crunch of semiconductors.
7. Lam Research Corp | Increased 16.65%
Semiconductor-related companies were prominently in the green within the Nasdaq on Thursday including Lam Research (LRCX) - Get Lam Research Corporation Report. Shares of Lam Research rose after the world’s biggest semiconductor maker, Taiwan Semiconductor Manufacturing (TSM) - Get Taiwan Semiconductor Manufacturing Co. Ltd. Report said it plans to address the global chip supply crunch that has been plaguing automakers on Thursday.
The stock was rising after a Bernstein analyst initiated coverage of the chipmaker with an outperform rating.
8. K L A-Tencor Corp | Increased 15.99%
9. Pinterest | Increased 13.96%
Shares of Pinterest (PINS) - Get Pinterest, Inc. Class A Report are up over 14% year-to-date. The stock of the social media platform has doubled in the last six months, but the future direction of the shares is a concern, wrote Real Money columnist Ed Ponsi.
10. Xpeng | Increased 13.59%
American depositary receipts of Xpeng (XPEV) - Get n.a. Report advanced after the Chinese EV maker said March deliveries were 5,102 and first-quarter deliveries jumped by nearly a factor of six to 13,340.
"This morning the EV sector got another shot of good news with Chinese EV stalwarts Nio and Xpeng both exceeding Street estimates for deliveries in March, which we view as a very positive indicator of the China EV market growth trajectory for the rest of the year," Wedbush analyst Daniel Ives said in a research note on Thursday.
11. Taiwan Semiconductor | Increased 12.99%
Taiwan Semiconductor Manufacturing (TSM) - Get Taiwan Semiconductor Manufacturing Co. Ltd. Report plans to spend $100 billion over the next three years to expand its chip fabrication capacity. Shares are up over 11.7% year-to-date.
12. Datadog | Increased 11.42%
Shares of Datadog (DDOG) - Get Datadog Inc Class A Report have slipped 4.41% year-to-date and Cramer did not pick this stock, a few weeks ago, on his Mad Money lightning round. The cloud monitoring company gave disappointing guidance in February.
"FY21 guidance is calling for meaningful growth deceleration, which we believe reflects management conservatism given the continued macro uncertainty," Barclays analyst Raimo Lenschow said in an investors' note.
13. Marvell Tech Group | Increased 10.97%
Cramer said Marvell Tech (MRVL) - Get Marvell Technology, Inc. Report is still the ultimate 5G wireless play and gave the stock a buy rating last week. Marvell's plan to acquire Inphi (IPHI) - Get Inphi Corporation Report was approved by China’s State Administration for Market Regulation and would help Marvell establish itself as a formidable data infrastructure powerhouse.
14. MicroVision | Increased 10.92%
Shares of MicroVision (MVIS) - Get MicroVision, Inc. Report skyrocketed in February after the scanning technology company said it has made significant progress on its patented Lidar, or Light Detection and Ranging, technology for autonomous vehicles.
The stock was up over 198% year-to-date.
15. Nvidia Corp | Increased 10.18%
Shares of Nvidia (NVDA) - Get NVIDIA Corporation Report are up 5.12% year-to-date while the chipmaker deals with the supply shortage. Nvidia's price target was raised by analysts from Wedbush and J.P. Morgan after earnings topped estimates in late February.
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