Stocks finished higher Thursday as the results of the recent elections suggested the possibility of tax increases for corporations and tighter regulations had lessened.
Here are some of the market's biggest gainers for Thursday:
1. Altus Midstream | Percentage Increase Over 204%
Altus Midstream (ALTM) - Get Report tripled after the oil and gas company said it planned to recommend a quarterly dividend of $1.50 a share beginning in March 2021. The company reported second-quarter adjusted income of $43.6 million and that it remained "well-positioned to meet the headwinds facing our industry due to COVID-19 and the associated market shocks."
2. Upwork | Percentage Increase Over 43%
Upwork (UPWK) - Get Report shares leaped as several analysts raised their price targets. The online staffing platform reported stronger-than-expected earnings. Stifel upgraded the company to buy from hold and sent its share-price target to $31 from $17. JMP Securities raised its share-price target to $28 from $20, keeping its rating at market outperform.
3. Resideo Technologies | Percentage Increase Over 35%
Resideo Technologies (REZI) - Get Report climbed after the smart-home technology maker beat Wall Street's third-quarter earnings and revenue expectations. Revenue totaled $1.4 billion, up 11% from a year ago, while net income came to $75 million, compared with $8 million a year ago.
4. Qualcomm | Percentage Increase Over 12%
Qualcomm (QCOM) - Get Report rose after the semiconductor company reported 2020 fiscal fourth-quarter earnings that beat analysts' estimates. Revenue rose 35% while earnings jumped 86% from a year ago. The move to 5G telecom equipment and products by the industry is expected to continue driving gains by Qualcomm in its upcoming fiscal year.
5. Meredith | Percentage Increase Over 23%
Meredith (MDP) - Get Report advanced after the company, which owns People, Better Homes & Gardens, and other publications, beat Wall Street's first-quarter earnings expectations. Earnings from continuing operations more than tripled from a year ago to $42 million, while adjusted Ebitda grew 17% to $143 million due primarily to digital advertising and political revenue growth.