Why Spotify Technology, CenturyLink, and ARMO BioSciences Jumped Today

Thursday continued the stock market's recent rally, with the Dow Jones Industrial Averageenjoying another triple-digit gain and certain other major benchmarks starting to approach record levels. Benign news on the macroeconomic front was the latest cause for optimism among market participants, as the latest reading on inflation showed a just-right price increase that suggested a healthy economy without putting pressure on the Federal Reserve to boost interest rates too quickly.

Some individual companies' stocks saw outsize gains. Spotify Technology (NYSE: SPOT), CenturyLink (NYSE: CTL), and ARMO BioSciences (NASDAQ: ARMO)were among the best performers on the day. Here's why they did so well.