Why Spartan Motors, Ardelyx, and Glu Mobile Jumped Today

Investors look forward to earnings season to get a read on the strength of corporate America, and Thursday gave market participants some valuable data points on how well the financial sector has done. Investors had high hopes that some of the nation's biggest banks would take advantage of more favorable industry conditions, as their performance has significant implications for the rest of the economy. Even though major market benchmarks were mixed following the release of those key bank earnings, several stocks managed to post significant gains. Spartan Motors (NASDAQ: SPAR), Ardelyx (NASDAQ: ARDX), and Glu Mobile (NASDAQ: GLUU) were among the key winners on the day. Let's look more closely at these stocks to see why they did so well.

Spartan Motors finished the day up nearly 21% after the chassis and vehicle design specialist announced a new strategic plan at its analyst and investor day presentation. The company said it wants to be among the top two competitors in all the markets it serves, with the goal of hitting $1 billion in revenue by 2020. In addition, Spartan is looking to post a double-digit pre-tax operating earnings margin, which would dramatically improve its bottom line. Spartan already delivered for investors in 2016, but shareholders think there's more gas left in the tank for the company.

Image source: Spartan Motors.

Source: Fool.com