Biggest stock movers Friday: Travel stocks, NFLX, AFRM, and more

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Stock futures edged higher Friday while oil slipped sharply to record lows after Iran declared the Strait of Hormuz open for commercial vessels, though President Trump stated the U.S. naval blockade would remain in effect.

Here are some of Friday's biggest stock movers:

BIGGEST STOCK GAINERS

* BLAIZE (BZAI [https://seekingalpha.com/symbol/BZAI]) +22% - Shares surged after announcing a contract worth up to $50M with NeoTensr to co-develop AI edge data center infrastructure in the Asia-Pacific region, with the potential to generate significant revenue within the first year. The deal includes co-branded AI servers and full-stack solutions capable of handling high-volume data workloads, underscoring strong demand for edge AI compute.
* ALASKA AIR GROUP (ALK [https://seekingalpha.com/symbol/ALK]) +14% AND CARNIVAL (CCL [https://seekingalpha.com/symbol/CCL]) +13% - Travel stocks across the board surged on Friday as Brent crude plummeted 12%, slipping below $84 per barrel. The sharp decline in energy prices, triggered by the reopening of the Strait of Hormuz, immediately improved the margin outlook for fuel-sensitive sectors. Major carriers including American Airlines (AAL [https://seekingalpha.com/symbol/AAL]) +8, United Airlines (UAL [https://seekingalpha.com/symbol/UAL]) +10, Southwest Airlines (LUV [https://seekingalpha.com/symbol/LUV]) +9%, Delta Air Lines (DAL [https://seekingalpha.com/symbol/DAL]) +7%, and JetBlue Airways (JBLU [https://seekingalpha.com/symbol/JBLU]) +7% advanced alongside cruise operators Norwegian Cruise Line Holdings (NCLH [https://seekingalpha.com/symbol/NCLH]) +8%, Royal Caribbean Group (RCL [https://seekingalpha.com/symbol/RCL]) +10, Viking Holdings (VIK [https://seekingalpha.com/symbol/VIK]) +6%, and Lindblad Expeditions (LIND [https://seekingalpha.com/symbol/LIND]) +8%. The positive sentiment extended to the broader hospitality and booking space, with gains in Hyatt Hotels (H [https://seekingalpha.com/symbol/H]) +6%, Marriott International (MAR [https://seekingalpha.com/symbol/MAR]) +4%, InterContinental Hotels Group (IHG [https://seekingalpha.com/symbol/IHG]) +5%, Hilton Worldwide (HLT [https://seekingalpha.com/symbol/HLT]) +3.5%, Airbnb (ABNB [https://seekingalpha.com/symbol/ABNB]) +3%, Booking Holdings (BKNG [https://seekingalpha.com/symbol/BKNG]) +3%, and MakeMyTrip (MMYT [https://seekingalpha.com/symbol/MMYT]) +6%, as investors cheered lower operating costs and improved macroeconomic visibility.
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* ONTO INNOVATION (ONTO [https://seekingalpha.com/symbol/ONTO]) +7% – Shares surged after Stifel Financial upgraded the stock to Buy and raised its price target to $350, citing stronger conviction following qualification of its Gen5 Dragonfly system for advanced packaging. Analysts pointed to likely wins with Taiwan Semiconductor Manufacturing Company and SK Hynix, along with multiple growth catalysts tied to next-gen nodes and packaging technologies, supporting an above-industry growth outlook.
* AFFIRM HOLDINGS (AFRM [https://seekingalpha.com/symbol/AFRM]) +6% - Shares advanced after Morgan Stanley named it a Top Pick, citing an “overdone” private credit overhang and a strong path for catalysts. The firm sees potential for upward estimate revisions and believes Affirm can sustain 30%+ GMV growth with improving margins, supported by a stable funding backdrop and tightening ABS spreads. Morgan Stanley also flagged the upcoming May Investor Forum as a key catalyst, where updates on growth, margins, and long-term targets are expected, including a potential FY2028 GAAP EPS outlook of $2.50–$3.00, which it views as conservative.
* APPLE (AAPL [https://seekingalpha.com/symbol/AAPL]) +2% – Shares rose after bullish analyst commentary from Bank of America and BNP Paribas, highlighting Apple’s positioning as an “edge AI” leader with on-device intelligence and relative insulation from AI infrastructure volatility. Analysts also pointed to potential iPhone share gains driven by supply chain advantages amid memory constraints, alongside catalysts from its evolving AI ecosystem, including integration with Alphabet Inc.’s Gemini.

BIGGEST STOCK LOSERS

* Badger Meter (BMI [https://seekingalpha.com/symbol/BMI]) -21% - Shares tumbled, marking their steepest intraday drop since 2008, after the company reported weak Q1 results with an EPS of $0.93, missing estimates by $0.26, and revenue of $202.3M (-9% Y/Y), falling short by $28.6M. The miss was driven by a 10% decline in utility water sales due to project timing delays and softer municipal demand, while flow instrumentation sales slipped 4% amid weaker non-water markets. Adding to investor concerns, the company guided for relatively flat full-year revenue (excluding acquisitions) vs. 2025, signaling limited near-term growth visibility despite some resilience in SaaS, SmartCover, and water quality segments.
* NETFLIX (NFLX [https://seekingalpha.com/symbol/NFLX]) -10% - Shares plunged despite a Q1 beat as softer guidance disappointed investors, with the FY2026 revenue outlook maintained at $50.7B–$51.7B (midpoint $51.2B), below consensus, and the operating margin guided at 31.5% vs. 32% expectations, while the Q2 margin is seen declining ~150 bps Y/Y due to higher content amortization. Additionally, co-founder Reed Hastings will not seek re-election as board chairman, adding to the cautious sentiment.
* ALCOA (AA [https://seekingalpha.com/symbol/AA]) -7% - Shares dipped after Q1 results missed expectations, with EPS of $1.40 and revenue of $3.19B both below consensus, while the outlook pointed to mixed trends with higher tariff costs and energy pressures offsetting some operational improvements. The company maintained its 2026 production guidance but flagged near-term EBITDA headwinds, even as it explores asset monetization opportunities, including advanced talks to sell its Messina East smelter site for a data center project.

MORE ON RELATED STOCKS:

* Alaska Air Group: My Rating On It Isn't Destined To Take Flight Yet [https://seekingalpha.com/article/4891579-alaska-air-group-my-rating-on-it-isnt-destined-to-take-flight-yet]
* Netflix: Advertising Could Become A Real Drag On The Business [https://seekingalpha.com/article/4891552-netflix-advertising-could-become-a-real-drag-on-the-business]
* Wall Street Breakfast Podcast: Reed Hastings Logs Out Of Netflix (Are You Sure?) [https://seekingalpha.com/article/4891512-wall-street-breakfast-podcast-reed-hastings-logs-out-of-netflix-are-you-sure]
* Badger Meter shares slide after Q1 revenue and EPS miss [https://seekingalpha.com/news/4576185-badger-meter-shares-slide-after-q1-revenue-and-eps-miss]
* Oil slump fuels travel sector rally; airlines and cruise stocks outperform [https://seekingalpha.com/news/4576157-oil-slump-fuels-travel-sector-rally-airlines-and-cruise-stocks-outperform]