U.S. markets had a solid Thursday, with the Dow Jones climbing around 100 points in mixed trading. But the real action was happening in individual stocks, where earnings beats and regulatory news created some spectacular moves.

Neogen Crushes Expectations

Neogen Corp (NEOG) was the day's standout performer, rocketing 28% to $9.44 after delivering second-quarter results that blew past Wall Street's estimates. The food safety and animal health company posted adjusted earnings of 10 cents per share, comfortably beating the 6 cents analysts were expecting. Revenue came in at $224.691 million versus expectations of $207.846 million. As if that wasn't enough, Neogen also raised its FY26 sales guidance above estimates, giving investors plenty of reasons to pile in.

Biotech Stars Shine Bright

The biggest mover of the day was actually Enliven Therapeutics Inc (ELVN), which exploded 52.5% to $23.60. The biotech company announced initial data from its ongoing Phase 1b ENABLE clinical trial evaluating ELVN-001 in patients with chronic myeloid leukemia that is relapsed, refractory or intolerant to available tyrosine kinase inhibitors. When clinical trial data lands this well, the market responds accordingly.

MoonLake Immunotherapeutics (MLTX) wasn't far behind, surging 32.6% to $14.98. The company got great news from the FDA, which confirmed that MoonLake may establish substantial evidence of effectiveness for hidradenitis suppurativa without conducting additional clinical trials. That's the kind of regulatory shortcut that can save years and hundreds of millions of dollars.

Defense Stocks Rally on Trump Budget Talk

Defense contractors had an excellent day, with multiple stocks posting significant gains. The catalyst? President Trump took to social media suggesting he wants to increase the 2027 military budget from $1 trillion to $1.5 trillion. That's a 50% increase, and defense companies are the obvious beneficiaries.

Lockheed Martin Corp (LMT) gained 7.4% to $533.88, directly responding to Trump's budget post. Northrop Grumman Corp (NOC) rose 8.8% to $627.62, while Kratos Defense & Security Solutions Inc (KTOS) jumped 12.8% to $103.21.

AeroVironment, Inc. (AVAV) gained 10.8% to $352.85, and Karman Holdings Inc (KRMN) rose 8.7% to $99.67. Karman had its own news, announcing an agreement to acquire Seemann Composites for $220 million, but the broader defense rally certainly didn't hurt.

Tech and Industrial Movers

Applied Digital Corp (APLD) gained 14.7% to $33.93 after reporting second-quarter adjusted earnings and revenue that both came in above estimates. The data center infrastructure play continues to benefit from the AI boom.

Babcock & Wilcox Enterprises Inc (BW) surged 21.1% to $7.17 on news that the company selected Siemens Energy to supply steam turbine generator sets for an Applied Digital data center power project. The connection to the hot data center market clearly resonated with investors.

Astronics Corp (ATRO) gained 9.4% to $63.71 after announcing preliminary unaudited revenue for the fourth quarter and initiating revenue guidance for 2026. When a company feels confident enough to put out early numbers and forward guidance, the market usually takes that as a positive signal.

Other Notable Gainers

Standard Biotools Inc (LAB) gained 13.7% to $1.46 after reporting preliminary Q4 and FY25 revenue results that apparently impressed investors.

Satellogic Inc (SATL) rose 12.7% to $2.70 after announcing a seven-figure monitoring agreement with a strategic customer. While the company didn't disclose specifics, any deal reaching seven figures is meaningful for a company at this scale.

Bloom Energy Corp (BE) shares jumped 11.3% to $120.20, while Serve Robotics Inc (SERV) climbed 15.5% to $15.56. Ondas Holdings Inc (ONDS) gained 13.6% to $13.83, and HUYA Inc – ADR (HUYA) gained 19.6% to $3.72, though specific catalysts for these moves weren't immediately clear.

Beverage Giant Delivers

Constellation Brands Inc (STZ) gained 7% to $150.51 as the beverage company posted better-than-expected earnings for the third quarter. The maker of Corona and Modelo continues to demonstrate resilient demand despite various economic headwinds.

All in all, Thursday showed how individual stock stories can create opportunities even when the broader market is just grinding along. Earnings beats, clinical trial results, regulatory wins, and policy signals all combined to produce some impressive moves across multiple sectors.