We recently compiled a list of the 10 Firms Post Impressive Gains on Monday. In this article, we are going to take a look at where FirstEnergy Corp. (NYSE:FE) stands against the other stocks.

Wall Street ended the first trading day of the week on a mixed note, with the Dow Jones the sole gainer, up 0.65 percent.

The S&P 500 and Nasdaq both fell by a whopping 1.46 percent and 3.07 percent, respectively, over fears that China is overtaking the US in innovations in the Artificial Intelligence industry, dampening confidence at a time when the world’s largest economy is bolstering investments in the sector.

Meanwhile, ten companies under mixed sectors ended the day stronger. In this article, we will take a look at which of the 10 companies posted impressive gains during a broader market pessimism and look at the reasons behind their rally.

Monday’s top advancers only considered the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

Solar panels in a large field, gleaming under the blazing sun.

FirstEnergy Corp. (NYSE:FE)

Ohio-based FirstEnergy Corp.’s share prices surged by 4.29 percent on Monday to end at $40.88 apiece as investors gobbled up shares in the company ahead of its earnings report next month.

For the fourth quarter alone, analysts expected the company to report a $0.71 earning per share, up by 14.5 percent from the $0.62 per share reported in the same period last year.

Meanwhile, full-year earnings are expected to jump by 4.3 percent to $2.67 from $2.56 year-on-year. Its EPS is expected to rise 8.6 percent year on year to $2.90 in fiscal 2025.

FirstEnergy is a company engaged in generating, transmitting, and distributing electricity to homes and businesses in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland, and New York. It also owns and operates renewable power generation facilities across coal, nuclear, hydroelectric, wind, and solar.

Overall FE ranks 7th on our list of Monday's top advancers. While we acknowledge the potential of FE as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than FE but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

READ NEXT: 20 Best AI Stock To Buy Now and Complete List of All AI Companies Under $2 Billion Market Cap.

 

Disclosure: None. This article is originally published at Insider Monkey.