The stock market ended firmer on Tuesday, with all of Wall Street’s main indices finishing in the green territory amid news that President Donald Trump temporarily delayed the imposition of tariffs against Canada and Mexico.

The Dow Jones inched up by 0.30 percent, while the S&P 500 and Nasdaq both jumped 0.72 percent and 1.35 percent, respectively.

On Tuesday, 10 companies under mixed sectors mirrored the broader market rally, fueled by impressive earnings results and optimistic business outlooks, among others. This article details the reasons behind the top gainers’ impressive performance.

To come up with Tuesday’s top gainers, we only considered those with $2 billion in market capitalization and $5 million in daily trading volume.

10. Cleveland-Cliffs Inc. (NYSE:CLF)

Shares of Cleveland-Cliffs rallied by 7.96 percent to close at $10.52 apiece on Tuesday as investors bought up shares in the company following plans to raise as much as $750 million from the offer of senior guaranteed notes until 2031.

In a statement on Monday, Cleveland-Cliffs said that proceeds from the offer will be used for general corporate purposes, including the repayment of borrowings under its asset-based credit facility. The offering is also exempt from any registration requirement of the Securities Act.

Meanwhile, investors will be waiting on the sidelines for the release of Cleveland-Cliffs’ 2024 earnings performance.

Based on its preliminary results, the Ohio-based steelmaker expects revenues in the fourth quarter of 2024 to drop by 15 percent to $4.3 billion from the $5.11 billion registered in the same period a year earlier, and by 12.7 percent in full-year 2024 to $19.2 billion from the $22 billion in 2023.

9. XPeng Inc. (NYSE:XPEV)

Chinese electric vehicle manufacturer XPeng Inc. saw its share prices rise by 8.29 percent on Tuesday to finish at $16.99 apiece as investors took heart from news that it achieved another record-breaking month in terms of vehicle deliveries.

In a statement released recently, XPeng said it achieved 30,350 Smart EV deliveries for the month of January alone. The figure represented a 268 percent increase from the same period last year.

January also marked the company’s third consecutive month of surpassing the 30,000-unit deliveries.

XPeng is undergoing an aggressive expansion program, with a plan to enter 60 new markets globally.

Last week, the company officially set foot on the European market with its entry into Ireland and Finland.

According to the company, it partnered with MDL Motors in Ireland and Inchcape in Finland to bring its smart EVs into the said countries.

8. PDD Holdings Inc. (NASDAQ:PDD)

PDD Holdings, the parent company of e-commerce operator Temu, grew by 8.37 percent on Tuesday to end at $114.05 each as investors resorted to bargain-hunting following the company’s slump on Monday.

According to analysts, investor sentiment on Tuesday may have been buoyed by China’s retaliation of tariffs on US goods to strengthen its position amid the ongoing trade war.

Prior to the trade tensions, Temu and Shein had already been enjoying what is called the “de minimis” exemption—a Latin term that means “too small to matter.” This lets packages worth less than $800 be brought to the US without any customs fees.

The de minimis exemption has become a big advantage for both Chinese e-commerce giants as it helped them sell products such as clothes, furniture, electronics, and home decor at very low prices as they try to expand in the US.

7. Super Micro Computer Inc. (NASDAQ:SMCI)

Shares of Super Micro jumped 8.6 percent on Tuesday to finish at $29.16 each as investors repositioned their portfolios ahead of its second quarter fiscal 2025 business update scheduled for February 11, 2025, after market close.

Investors will be watching out for two cues in the call meeting: the company’s annual report for the 12 months ending June 2024 which was yet to be filed with the Securities and Exchange Commission, and whether it would be able to submit all delayed filings by February 25—a vital factor in keeping its position as a publicly listed company.

Nasdaq allowed Super Micro to be delinquent over the past few months amid allegations from short seller Hindenburg Research that it found evidence of undisclosed related party transactions, and a failure to abide by export controls, among other issues.

In 2018, the company was forcefully removed from the Exchange after failing to file financial statements and then returned in 2020. In the same year, it was fined by the SEC for “widespread accounting violations.”

6. Celestica Inc. (NYSE:CLS)

Celestica Inc. saw its share prices jump by 9.18 percent to close Tuesday’s trading at $131.98 as investors continued to snap up shares in the company following an optimistic outlook for 2025 and a better-than-expected earnings performance.

Last week, the company announced that it achieved revenues of $2.55 billion in the fourth quarter of 2024, showing a 19 percent increase from the $2.14 billion in the fourth quarter of 2023.

Earnings per share during the same period also surged to $1.29 from 77 cents year-on-year.

For this year, Celestica posted confidence that it would achieve improved business and earnings performance, as it raised its full-year outlook as a reflection of the strengthening demand in its Connectivity and Clouds Solutions (CCS) segment.

“We now anticipate revenue of $10.7 billion, an increase from our previous outlook of $10.4 billion, and non-GAAP adjusted EPS of $4.75, up from our previous outlook of $4.42,” the company said.

“Overall, the current demand environment for data center hardware is robust, as evidenced by recent customer forecasts as well as new AI program awards over the last 90 days, including our second and third 1.6T program wins. As such, we believe the positive momentum we are experiencing will continue beyond this year, and into 2026,” it added.

5. MP Materials Corp. (NYSE:MP)

MP Materials rose for a fourth consecutive day on Tuesday, jumping by 10.08 percent to end at $24.47 apiece, as investors took heart from President Donald Trump’s imposition of tariffs on imports from the US largest trading partners—including oil, electricity, natural gas, coal, uranium, and critical minerals.

The taxes levied stand to benefit MP Materials—a Las Vegas-based rare earth materials producer—as this would push businesses to instead resort to American companies such as MP Materials for their rare earth mineral needs.

MP Materials produces rare earth materials, a group of 17 metals used to make magnets that turn power into motion for electric vehicles, cell phones, and other electronics. The company is currently one of the largest non-Chinese rare earth miners and processors globally.

4. SoundHound AI Inc. (NASDAQ:SOUN)

SoundHound AI extended its winning streak for the fourth day on Tuesday, with the company surging by 10.32 percent to finish at $15.71 each as investor sentiment was buoyed by news that China announced tariffs on select US imports in retaliation to President Donald Trump’s imposition of levies on Chinese goods.

Over the weekend, the US officially began imposing 10 percent taxes on Chinese goods, while a 25 percent levy on Canadian and Mexican goods was put on hold to make way for discussions between the US and the said countries.

Meanwhile, SoundHound AI does business with China, and any trade war with the US could create a domino effect on its bottom line.

3. Grab Holdings Ltd. (NASDAQ:GRAB)

Transport network company Grab Holdings saw its share prices surge by 12.56 percent on Tuesday to end at $5.11 apiece following twin news that the company was taking over one of its competitors while also earning an upgraded outlook from an investment banking firm.

According to reports on Tuesday, Grab is in negotiations with its rival GoTo for a potential takeover of the latter for $7 billion as the latter suffers from losses.

A new round of merger talks was said to have occurred in December 2024, with the two parties eager to officially strike a deal this year.

A report by Reuters citing sources privy to the matter said that an agreement could still be axed as previous negotiations all fell through.

On the same day, HSBC upgraded its rating on Grab to “buy” from “hold” previously, in hopes that Grab’s on-demand gross merchandise value will grow at a compounded annual growth rate of 14 percent until 2026.

2. Spotify Technology SA (NYSE:SPOT)

Shares of audio streaming giant Spotify Technology soared by 13.24 percent on Tuesday to finish at $621.77 apiece as investors cheered the company’s swing to profitability last year.

In a statement on its website, Spotify said it achieved a 16-percent increase in revenues at €4.2 billion while operating income settled at €477 million.

Monthly active users also increased by 12 percent year-on-year to 675 million, while its total subscribers jumped 11 percent to 263 million.

Given the promising earnings performance, Spotify said it was confident about its business outlook for 2025.

“I am very excited about 2025 and feel really good about where we are as both a product and as a business,” said Spotify CEO Daniel Ek. “We will continue to place bets that will drive long-term impact, increasing our speed while maintaining the levels of efficiency we achieved last year. It’s this combination that will enable us to build the best and most valuable user experience, grow sustainably, and deliver creativity to the world.”

1. Palantir Technologies Inc. (NASDAQ:PLTR)

Palantir Technologies soared to an all-time high on Tuesday, hitting a record of $106.91 apiece, before slightly losing momentum to end the day just up by 23.99 percent at $103.83 each.

Such investor confidence pushed the company’s market capitalization to jump to as high as $240 billion, surpassing valuations of household names such as American Express ($221 billion), McDonald’s ($208 billion), and Disney ($207 billion).

The rally came following news that it achieved a 16-percent growth in net income in full year 2024 at $462 million, supported by a 29-percent jump in revenues at $2.87 billion.

Of the total revenues, US revenues surged by 38 percent to $1.9 billion.

In the fourth quarter alone, net income rose by 10 percent to $79 million, while revenues increased 36 percent to $828 million. US revenues grew 52 percent to $558 million.

While we acknowledge the potential of PLTR as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than PLTR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.

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