We recently compiled a list of the Wall Street Optimism Spills Over to These 10 Stocks on Friday. In this article, we are going to take a look at where The AES Corporation (NYSE:AES) stands against the other stocks.

Wall Street finished the trading week stronger, posting gains by more than 1 percent after slipping into the negative territory at intra-day trading following a clash between US President Donald Trump and Ukrainian leader Volodymyr Zelensky at the White House.

Following the televised meeting, the two leaders concluded the encounter without a deal for joint development of mineral resources.

The Dow Jones jumped by 1.39 percent, the S&P 500 surged by 1.59 percent, and the Nasdaq soared by 1.63 percent.

The broader market optimism spilled into individual stocks, with 10 companies ending the trading session with strong gains. In this article, we have detailed the reasons behind their impressive performance.

To come up with Friday’s top gainers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.

An executive in a power plant control booth overseeing the efficient energy production.

The AES Corporation (NYSE:AES)

The AES Corporation (NYSE:AES) saw its share prices jump by 11.66 percent on Friday to end at $11.59 apiece as investors cheered news of its stellar earnings performance last year.

In a statement, The AES Corporation (NYSE:AES) said net income attributable to the company spiked by 597 percent to $1.686 billion last year from $242 million in 2023, while revenues inched down by 3 percent to $12.28 billion from $12.67 billion.

In the fourth quarter alone, AES swung to a net income of $560 million from a net loss of $94 million, despite revenues dipping by 0.2 percent to $2.96 billion from $2.97 billion in the same period a year earlier.

Looking ahead, The AES Corporation (NYSE:AES) said it was on track to achieve targets of signing 14 to 17 gigawatts of signed power purchase agreements between 2023 and 2025, with another 3.2 GW of renewable energy expected to be completed this year.

Overall AES ranks 6th on our list of Friday's top gainers. While we acknowledge the potential of AES as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AES but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

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