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.
8. On Holding AG (NYSE:ONON)
ON Holding AG grew its share prices by 11.83 percent to finish at $57.38 apiece as investors cheered the company’s bullish business outlook for the rest of the year.
In a statement, On Holding AG (NYSE:ONON) said it now expects its full-year net sales to grow by 28 percent.
“On continues to experience strong demand across channels, regions, and product categories. The company looks to further build on this global brand momentum with an exciting product pipeline for the rest of the year,” it said.
In the first quarter of the year, On Holding AG (NYSE:ONON) achieved a 43-percent increase in net sales in the first quarter of the year, at CHF726.6 million versus the CHF508.2 million in the same period last year.
This, however, failed to push its net income higher during the period, ending 38 percent lower at $56.7 million versus $91.4 million year-on-year.
On the same day, investment firm Needham also raised its price target for On Holding AG (NYSE:ONON), to $62 from $55 previously, while also recommending to buy the stock.
7. Hims & Hers Health, Inc. (NYSE:HIMS)
Telehealth company Hims & Hers extended its winning streak for a third straight day on Tuesday, jumping 15.92 percent to finish at $64 apiece after earning a stock rating upgrade from an investment firm.
On Tuesday, Truist Securities raised its price target for Hims & Hers Health, Inc. (NYSE:HIMS) to $45 from $33 previously while maintaining a “hold” rating on the stock.
This came after its first quarter earnings performance, which Truist referred to as a “mixed bag” after a revenue beat driven by strong sales in GLP-1, reaffirmed revenue guidance for the year, alongside a higher EBITDA forecast.
Truist’s rating also included Hims & Hers Health, Inc.’s (NYSE:HIMS) recent partnership with Novo Nordisk to jointly market the blockbuster Wegovy drugs on the former’s telehealth platform.
In its latest earnings release, Hims & Hers Health, Inc. (NYSE:HIMS) said that its net income expanded by 346 percent to $49.5 million from the $11.1 million registered in the same period last year, while revenues soared by 111 percent to $586 million from $278.2 million year-on-year.
The company said that its strong performance underpinned its updated 2025 guidance, with full-year revenues expected to settle between $2.3 billion and $2.4 billion, and the second quarter to end at $530 million to $550 million.
6. Super Micro Computer, Inc. (NASDAQ:SMCI)
Super Micro Computer surged by 16.02 percent on Tuesday to end at $38.89 apiece after investment firm Raymond James Financial Inc. gave the company a bullish outlook and a higher price target.
On Monday, Raymond James said it initiated coverage of Super Micro Computer, Inc. (NASDAQ:SMCI) and gave the latter an “outperform” rating with a price target of $41, an upside of 5.42 percent from the company’s latest closing price.
According to the investment firm, Super Micro Computer, Inc. (NASDAQ:SMCI) carved out a solid spot in the AI race, with a 9 percent market share in a $145-billion market.
In the third quarter ending March 31, 2025, Super Micro Computer, Inc. (NASDAQ:SMCI) recorded a 73-percent drop in net income at $108 million versus $402 million in the same period last year.
Net sales, however, increased by 19 percent to $4.599 billion from $3.850 billion year-on-year.
5. NuScale Power Corporation (NYSE:SMR)
NuScale Power extended its rally for a fourth straight day on Tuesday, adding 21.64 percent to close at $21.64 apiece following the release of a strong earnings performance in the first quarter of the year.
In a statement, NuScale Power Corporation (NYSE:SMR) said revenues during the period expanded by 857 percent to $13.4 million from $1.4 million in the same period last year, driven by strong revenues generated from the FEED Phase 2 project and the Technology License Agreement for the RoPower Doicești power plant.
Operating expenses decreased by 5 percent to $42.3 million from $44.6 million amid lower research and development expenses, which partially offset higher general and administrative expenses.
NuScale Power Corporation (NYSE:SMR) also incurred a loss from operations of $35.3 million, or 19.8 percent lower than the $44 million reported in the same period a year ago.
4. Intuitive Machines, Inc. (NASDAQ:LUNR)
Intuitive Machines soared by 22.42 percent on Tuesday to end at $11.63 each after an impressive earnings performance in the first quarter of the year.
In a statement, Intuitive Machines, Inc. (NASDAQ:LUNR) said it narrowed its net loss attributable to shareholders by 88 percent to $11.5 million from the $97.9 million registered in the same period last year. Revenues, on the other hand, declined by 14.6 percent to $62.5 million from $73.2 million year-on-year.
Looking ahead, Intuitive Machines, Inc. (NASDAQ:LUNR) said it is targeting between $250 million and $300 million in revenues for the full year 2025.
“The evolving federal landscape, including shifting NASA priorities, presents a clear opportunity for Intuitive Machines. We’re leveraging our track record to expand into adjacent markets like National Security Space and other non-lunar domains,” said Intuitive Machines, Inc. (NASDAQ:LUNR) CEO Steve Altemus.
“This diversification builds on our core strengths and positions us as a broader infrastructure and data services provider across the space economy,” he added.
3. First Solar, Inc. (NASDAQ:FSLR)
First Solar, Inc. (NASDAQ:FSLR) extended its rally for a fifth consecutive day on Tuesday, jumping 22.66 percent to close at $191.60 apiece as investors cheered a new proposal at the Congress which aims to “only trim, but preserve” key tax credits for solar and wind resources.
The House of Representatives’ Ways and Means Committee kept the Production Tax Credit and Investment Tax Credit untouched until 2028, before a gradual phase-down to 2032. According to JP Morgan, the move aligns with or exceeds the more bullish end of investor expectations.
The news provided a boost to solar companies, which have been grappling with uncertainties since the start of the new administration amid President Donald Trump’s lukewarm stance on renewable energy resources, saying that the US needs to prioritize energy supply over zero carbon commitments.
Following the news, Wolfe Research gave First Solar, Inc. (NASDAQ:FSLR) an “outperform” rating and a price target of $221, or a 15-percent upside from its latest closing price.
2. Archer Aviation Inc. (NYSE:ACHR)
Archer Aviation rose for a fifth straight day on Tuesday, surging 22.91 percent to end at $11.16 apiece as investor sentiment was boosted by news that it was on track to launch its first air taxi in the Middle East later this year.
In a statement on Monday, Archer Aviation Inc. (NYSE:ACHR) said that it plans to deliver its first Midnight aircraft to the UAE in the next few months for its planned launch later this year. This was further supported by the country’s approval of the design of the hybrid airport in Abu Dhabi.
“Archer’s pushing the boundaries of what’s possible and reshaping the future of aviation for years to come. This quarter, the team made strong progress across our civil and defense efforts as we continue to deepen our strategic partner relationships and prepare for commercialization in the UAE later this year,” said Archer Aviation Inc. (NYSE:ACHR) founder and CEO Adam Goldstein.
1. Coinbase Global, Inc. (NASDAQ:COIN)
Coinbase Global Inc. soared by 23.97 percent on Tuesday to end at $256.90 apiece as investors cheered its inclusion in the S&P 500 index.
By May 19, Coinbase Global, Inc. (NASDAQ:COIN) will replace Discover Financial Services, which ended its 12-year tenure in the index after its planned merger with fellow S&P 500 component, Capital One Financial.
In the first quarter of the year, Coinbase Global, Inc. (NASDAQ:COIN) said net income nosedived by 94 percent to $66 million from $1.176 billion reported in the same period last year.
Net revenues, however, were higher by 23.4 percent to $1.96 billion from $1.588 billion year-on-year.
“Looking ahead, we’re focused on expanding real-world crypto utility, strengthening and extending our trading platform, and scaling the infrastructure that will power the financial system of the future,” the company said.
Additionally, Coinbase Global, Inc. (NASDAQ:COIN) said it is set to acquire Deribit, an Exchange platform for cryptocurrencies, for $2.9 billion.
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