Ten stocks soared higher on Tuesday, with four companies soaring to new record highs despite a market bloodbath, as investors took heart from a flurry of positive corporate developments.
Meanwhile, Wall Street’s major indices all finished in the red, led by the Nasdaq slashing 0.84 percent, followed by the S&P 500 declining 0.37 percent, and the Dow Jones, down 0.18 percent.
Indices aside, we spotlight the 10 top-performing companies on Tuesday and break down the reasons behind their strong performance.
To come up with the list, we focused on the stocks with a $2 billion market capitalization and 5 million shares in trading volume.
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10. Coherent Corp. (NYSE:COHR)
Coherent Corp. rallied for a second day on Tuesday, jumping 6.78 percent to close at $272.33 apiece, as investors resumed buying positions in its stock following its official addition to the S&P 500 index.
Companies being added to benchmark indices typically get a boost before and after their inclusion, as funds and investment firms reposition their portfolios to mirror the recomposition of the index. Meanwhile, this also boosts their exposure to global retail investors.
Coherent Corp. (NYSE:COHR) is a semiconductor company which manufactures engineered materials, optoelectronic components, and laser systems.
In the second quarter of fiscal year 2026 ending December 2025, Coherent Corp. (NYSE:COHR) achieved a strong double-digit earnings performance thanks to demand from data center and communication segments.
During the period, net income attributable to shareholders increased by 41.9 percent to $147 million from $103 million in the same period a year earlier, while revenues jumped by 17.5 percent to $1.686 billion from $1.435 billion year-on-year.
“We expect continued strong growth in the second half of fiscal 2026 and throughout fiscal 2027 based on strong datacenter and communications demand and our continued production capacity expansion along with improving demand in our Industrial segment,” Coherent Corp. (NYSE:COHR) CEO Jim Anderson said.
9. Viavi Solutions Inc. (NASDAQ:VIAV)
Viavi Solutions soared to a new 24-year high on Tuesday, as investors took path from Stifel’s “buy” recommendation for its stock.
At intra-day trading, Viavi Solutions Inc. (NASDAQ:VIAV) climbed to its highest price of $36.03 before paring gains to finish the session just up by 6.93 percent at $35.94 apiece.
In a market note, Stifel told investors to “buy” shares of the company, while maintaining a price target of $35 after the listed firm showcased its AI solutions portfolio at a conference in California last week.
Among others, Viavi Solutions Inc. (NASDAQ:VIAV) displayed a range of products and solutions including 1.6T Ethernet testing, silicon photonics manufacturing, fiber inspection, hollow core fiber certification, PCIe testing, and distributed fiber sensing.
It also introduced its INX 700 probe microscope which features an extended battery and hyperscale optimization for automated inspection of single and multifiber connectors, as well as the DCX-700 optical loss test set which enables 24-fiber simultaneous measurement.
Viavi Solutions Inc. (NASDAQ:VIAV) is likewise participating in the ongoing RSA Conference in San Francisco, California from March 23 to 26, where it has showcased its Observer Threat Forensics designed to increase visibility across operational teams through helping organizations identify potential vulnerabilities including post-detection analyses of a breach, the intrusion point and the exposed data.
8. PBF Energy Inc. (NYSE:PBF)
PBF Energy bounced back on Tuesday to hit an over one-year high, as investors resumed buying positions in its stock as tensions in the Middle East continue to rise.
In intra-day trading, PBF Energy Inc. (NYSE:PBF) touched a new record high of $50.64 before trimming a few cents to finish the session just up by 7.51 percent at $50.09 apiece after the US and Iran announced contradicting statements on their negotiations, with President Donald Trump earlier suggesting progressive talks with the Middle Eastern country, while the latter refuted his claims.
However, the lack of resolution between the two countries, coupled with the continuing supply restrictions globally continued to spark buying appetite for oil and natural gas stocks on expectations that they would benefit from higher profit margins.
PBF Energy Inc. (NYSE:PBF) is a US-based oil refiner and supplier, which owns five refineries across the East Coast, Gulf Coast, and the West Coast, with a combined capacity of 900,000 barrels per day.
For this year, PBF Energy Inc. (NYSE:PBF) is targeting to produce between 810,000 to 870,000 barrels per day.
Last year, the company reported strong earnings results, with net loss attributable to shareholders narrowing by 70 percent to $158.5 million from 533.8 million in 2024. Revenues declined by $29.3 billion from $33.1 billion year-on-year.
7. Dell Technologies Inc. (NYSE:DELL)
Dell Technologies soared to a new all-time high on Tuesday following a four-day run, as investors continued to take path from an optimistic analyst rating, while favoring technology stocks seen as less vulnerable from the Middle East tensions.
In intra-day trading, Dell Technologies Inc. (NYSE:DELL) soared to its highest price of $178.31 before trimming gains to finish the session just up by 7.49 percent at $176.91 apiece.
Last Friday, Goldman Sachs raised its price target for Dell Technologies Inc. (NYSE:DELL) to $195 from $180 previously, while reaffirming its “buy” recommendation. The figure marked a 10 percent upside potential from its latest closing price.
In other news, shareholders of Dell Technologies Inc. (NYSE:DELL) on record as of April 21, 2026, are set to receive $0.63 dividends per common share held, payable on May 1.
The dividends followed a double-digit earnings growth in fiscal year 2026 ending January, with net income jumping 30 percent to $5.9 billion from $4.58 billion a year earlier. Revenues also increased by 19 percent to $113.5 billion from $95.6 billion year-on-year.
In the fourth quarter alone, net income surged by 47 percent to $2.26 billion from $1.5 billion, while revenues rose by 39 percent to $33.38 billion from $23.9 billion.
6. Hewlett Packard Enterprise Company (NYSE:HPE)
Hewlett Packard Enterprise saw its share prices jump by 7.77 percent on Tuesday to close at $23.90 apiece, as investors gobbled up shares to qualify for its next quarterly dividend payment.
Earlier this month, Hewlett Packard Enterprise Company (NYSE:HPE) announced that its board of directors approved the distribution of $0.1425 per share of dividends to all shareholders on record as of March 24, payable on April 23.
The distribution followed its strong revenue performance for the first quarter of fiscal year 2026 ending January, having jumped by 18.5 percent to $9.3 billion from $7.8 billion in the same period a year earlier.
Net income attributable to shareholders, on the other hand, declined by 29 percent to $423 million from $598 million year-on-year.
Looking ahead, Hewlett Packard Enterprise Company (NYSE:HPE) expects revenues in the second quarter of the fiscal year to climb further by 26 percent to 31.6 percent to a range of $9.6 billion to $10 billion, while diluted earnings per share are targeted at a range of $0.09 to $0.13.
For the full fiscal year, Hewlett Packard Enterprise Company (NYSE:HPE) is targeting a revenue growth of 17 to 22 percent year-on-year, with the networking segment alone expected to climb by 68 to 73 percent.
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