Trending stocks amid week of new highs for Wall Street

Multiple key indices had a strong week in the first week of December, with the benchmark S&P 500 hitting a record high and rising 0.8% over the five days of trading.

The index was buoyed by sentiment of a December rate cut following a U.S. jobs report for November that showed a slowing yet solid labor market.

Nasdaq Composite (COMP:IND) also reached a new closing high, boosted by November nonfarm payroll data. The tech-focused Nasdaq Composite (COMP:IND) jumped 2.6%, while the Dow (DJI) dropped 0.3%.

This week also saw bitcoin (BTC-USD) cross $100,000 for the first time after several days near the milestone. The major cryptocurrency has jumped over 125% so far this year.

As the market prepares to wind down the year on a strong note, these were among the trending stocks:

Marvell Technology (MRVL) shares jumped on Wednesday to hit an all-time high after the chipmaker reported fiscal third-quarter results and guidance that topped expectations, due in part to artificial intelligence.

SentinelOne (S) shares tumbled 15% on Thursday in its biggest drop since May after the cybersecurity software firm reported third quarter adj. EPS that missed the average analyst estimate.

Salesforce (CRM US) shares advanced 9% after the software company reported fiscal third-quarter results. Despite somewhat mixed results and guidance, Salesforce demonstrated consistent growth in revenue and subscriptions, up 8% and 9% year over year, respectively.

U.S. listed shares of Korea-based companies fell sharply after South Korea’s President Yoon imposed a martial law in a sudden late-night address to the country that was later lifted. KB Financial Group (KB) fell 12%, Coupang (CPNG) -6% and Posco Holdings (PKX) dropped 7.4%.

Airline stocks registered gains this week after American Airlines (AAL) +20% and Southwest Airlines (LUV) +5% provided upbeat forecasts, a positive for the sector indicating an uptick in air travel for the ongoing holiday season. JetBlue (JBLU) shares also jumped 9% as the airline boosted its revenue forecast for the fourth quarter.

Intel (INTC) dropped 16% as investors continued to wonder about the fate of the semiconductor giant following CEO Pat Gelsinger’s departure. Earlier in the week, Intel (INTC) made the surprising announcement that Pat Gelsinger is retiring and will be replaced by co-CEOs David Zinsner and Michelle Johnston Holthaus.

Super Micro Computer (SMCI) added 16% this week after an independent special committee found no evidence of misconduct by the board of directors or audit committee. The company also received an extension from Nasdaq to file its pending annual and quarterly reports.

UnitedHealth Group (UNH) shares tumbled 9% in the aftermath of the shooting death of the head of its UnitedHealthcare division. UnitedHealthcare CEO Brian Thompson was shot and killed earlier Wednesday morning outside a midtown Manhattan hotel where he was scheduled to speak at the company’s annual investor conference. The news has shaken the healthcare industry, with shares of many health insurers down on Friday.

AT&T (T) was in focus after the telecom giant gave a stronger-than-expected outlook for the coming years and set a $20B stock buyback plan. The wireless carrier expects a double-digit percentage growth in adjusted EPS and free cash flow of more than $18B in 2027 as it embarked on a multi-year strategic plan.

Microchip Technology (MCHP) fell 13% after the chipmaker said it planned to shut down a plant in Arizona and said it expects third-quarter revenue being close to the low end of its original guidance. The company is also reportedly pausing its application for U.S. chip subsidies. It was in line for $162M in grants to support facilities in Oregon and Colorado.

Palantir Technologies (PLTR) rose 13% in the week and was among the most traded stocks in the U.S. market this week, alongside SoundHound (SOUN) +63%. SoundHound (SOUN) gained after the company presented its artificial intelligence-powered, conversational voice products at a conference.

Toast (TOST) fell 10% after the company’s chief financial officer unexpectedly lowered expectations for 2025 adjusted EBITDA margins at an investment conference. CFO Elena Gomez indicated 100-200 basis points of expansion for adjusted EBITDA as a percentage of fintech and subscription gross profit, compared with consensus embedding 360 bps of expansion.

Zscaler (ZS) was in focus after the security software company gave a forecast for adjusted second-quarter earnings that fell short of Wall Street estimates.