Ten stocks soared higher on Tuesday, mimicking an overall market rally, as investors continued to load up portfolios on renewed confidence for a Fed rate cut, while digesting more earnings results.
On Wall Street, the Dow Jones led gains, up 1.43 percent, followed by the S&P 500, up 0.91 percent, and the Nasdaq at 0.67 percent.
In this article, we focus on the performance of the 10 top-performing stocks and break down the reasons behind their gains.
To come up with the list, we considered only the stocks with a $2 billion market capitalization and more than 5 million shares in trading volume.
The New York Stock Exchange building. Photo by Дмитрий Трепольский on Pexels
10. Zoom Communications Inc. (NASDAQ:ZM)
Zoom Communications bounced back to hit a new record high following its strong earnings performance in the third quarter alongside a higher growth outlook for the full fiscal year.
At intra-day trading, Zoom Communications Inc. (NASDAQ:ZM) soared to a new 52-week high of $91.04 before paring gains to finish the session just up by 9.85 percent at $86.34 apiece.
In an updated report, the company said it was able to grow its net income by 196 percent to $612.87 million from only $207.05 million in the same period last year.
Revenues also increased by 4.2 percent to $1.23 billion from $1.18 billion year-on-year, thanks to higher revenues from enterprise and online segments, up by 6.1 percent and 2 percent year-on-year.
“Zoom is continuing to build on our vision of an AI‑first platform that helps people connect and collaborate more seamlessly,” said Zoom Communications Inc. (NASDAQ:ZM) CEO Eric Yuan. “Our disciplined approach is fueling top-line growth, stellar profitability, and lower dilution helping us turn AI innovation into real, lasting value for customers and shareholders.”
For the full fiscal year of 2026, Zoom Communications Inc. (NASDAQ:ZM) expects revenues to end at a range of $4.852 billion and $4.857 billion, as well as non-GAAP diluted EPS of $5.95 and $5.97.
For the fourth quarter alone, it targets to rake in between $1.23 billion and $1.235 billion in revenues and non-GAAP diluted EPS of $1.48 and $1.49.
9. TeraWulf Inc. (NASDAQ:WULF)
TeraWulf rallied for a second day on Tuesday, jumping 10.37 percent to close at $13.94 apiece as investors placed bets on the company’s stronger capital structure following the mandatory conversion of its convertible preferred stocks into common shares.
In a statement, TeraWulf Inc. (NASDAQ:WULF) said that it has exercised its right to convert all outstanding Series A convertible preferred shares into common stock with a par value of $0.001 apiece.
Under the terms, the conversion can only be exercised once the company exceeds 130 percent of the $10 conversion price, or $13, on at least five trading days from November 4 to 24, 2025.
TeraWulf Inc. (NASDAQ:WULF) said each share of convertible preferred shares will automatically convert to 141.9483 shares on December 9, 2025.
“Today’s announcement represents a key milestone on our journey to simplify TeraWulf’s capital structure going forward, supporting future growth while providing transparency to investors,” said TeraWulf Inc. (NASDAQ:WULF) Chief Finance Officer Patrick Fleury.
“The mandatory conversion of the Preferred Stock reinforces our financial discipline and enables a focus on growth going forward,” he noted.
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