The stock market finished the trading day on a mixed note, as investors continued to digest April inflation figures, which came out lower than expected.
On Tuesday, the Labor Department reported that the Consumer Price Index for April rose by only 0.2 percent last month, bringing the annual inflation rate to 2.3 percent, its lowest annual rate since February 2021.
Among Wall Street’s main indices, only the S&P 500 and the tech-heavy Nasdaq registered gains, by 0.72 percent and 1.61 percent, respectively. The Dow Jones, on the other hand, was down by 0.64 percent.
Beyond the major indices, 10 companies finished the session with strong gains amid a flurry of positive developments, including ratings upgrades and impressive corporate earnings, among others.
In this article, we name Tuesday’s 10 top performers and detail the reasons behind their rally.
To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume.
10. Tempus AI Inc. (NASDAQ:TEM)
Shares of Tempus AI grew by 9.92 percent on Tuesday to finish at $68.91 apiece as investor hopes were buoyed by the launch of an exchange-traded fund (ETF) that would track the company’s daily performance.
In a statement on Tuesday, Tradr ETFs, a provider of ETFs designed for sophisticated investors and professional traders, said that it launched the “Tradr 2X Long TEM Daily ETF (CBOE: TEMT),” which aims to deliver twice the daily performance of Tempus AI Inc.’s (NASDAQ:TEM) common stock.
“Since its IPO in June 2024, Tempus has gained significant momentum through its differentiated business model and compelling growth potential,” said Matt Markiewicz, Head of Product and Capital Markets at Tradr ETFs.
The introduction of ETFs tracking indices or single companies helps boost trading as it increases visibility to both retail and institutional investors.
9. Oklo Inc. (NYSE:OKLO)
Oklo Inc. saw its share prices grow by 11.02 percent on Tuesday to end at $32.03 apiece as investor sentiment was buoyed by its strong earnings performance in the first quarter of the year.
During the period, Oklo Inc. (NYSE:OKLO) said it narrowed its net loss by 59 percent to $9.8 million from the $24 million recorded in the same period last year. This is despite a 142-percent increase in operational loss at $17.87 million from $7.37 million in the same comparable period.
In other news, Oklo Inc. (NYSE:OKLO) announced the appointment of Pat Schweiger as its new chief technology officer. Previously, he served as chief engineer at SPARC at Commonwealth Fusion Systems as well as senior vice president and vice president for TerraPower.
“Pat’s decades of experience and expertise in power engineering will be a tremendous asset to Oklo as we move toward the commercialization of our advanced nuclear technologies,” said Oklo Inc. (NYSE:OKLO) co-founder and CEO Jacob DeWitte.
“His experience at the Fast Flux Test Facility provides a direct link to the technology legacy that our reactor design builds on, and we’re thrilled to have him at Oklo, helping to deploy modern fast reactor technologies,” he added.
