Ten firms soared higher on Tuesday, recording double-digit gains in the intra-day session, as general investor optimism was bolstered by a cooler-than-expected July inflation data, thanks to lower grocery and gas prices.
On Wall Street, all major indices finished in the green, led by the tech-heavy Nasdaq at 1.39 percent, followed by the S&P 500 with a 1.13-percent gain, and the Dow Jones at 1.10 percent.
Indices aside, we name the 10 companies that performed the strongest on Tuesday and detail the reasons behind their gains. To compile the list, we focused exclusively on stocks with $2 billion in market capitalization and at least 5 million shares in trading volume.
Photo by Anna Nekrashevich on Pexels
10. Bitmine Immersion Technologies, Inc. (NYSEAmerican:BMNR)
Bitmine Immersion ended 5.87 percent higher on Tuesday after rallying as much as 14 percent at intra-day trading following plans to raise as much as $20 billion from a share sale, sparking investor excitement over the likelihood of further Ethereum acquisition.
In a regulatory filing, Bitmine Immersion Technologies, Inc. (NYSEAmerican:BMNR) said it filed an amended prospectus with the Securities and Exchange Commission to offer shares worth $24.5 billion at the market. This marked the second amendment after it initially sought approval last July 9 to raise $2 billion, and increased it to $4.5 billion last July 24.
In its initial prospectus, Bitmine Immersion Technologies, Inc. (NYSEAmerican:BMNR) said proceeds from the offer would be used for general corporate purposes, including debt repayment, share buyback initiatives, working capital, other expenditures, and fund acquisitions of businesses, technologies, or assets.
On Monday, Bitmine Immersion Technologies, Inc. (NYSEAmerican:BMNR) raised its Ethereum treasury to nearly $5 billion following the acquisition of 317,126 additional units, boosting its total ownership to 1.15 million and making the company the largest Ethereum treasury holder so far. The new round of acquisition followed the company’s $2.9 billion purchase of Ethereum earlier this month.
All recent transactions form part of an ETH Treasury strategy announced on June 30.
9. AST SpaceMobile, Inc. (NASDAQ:ASTS)
AST SpaceMobile snapped a four-day losing streak on Tuesday, jumping 8.36 percent after trading as much as 20.86 percent intra-day, as investor sentiment was bolstered by its plans to launch 60 satellites next year.
“We are confirming our fully-funded plan to deploy 45 to 60 satellites into orbit by 2026 to support continuous service in the US, Europe, Japan, and other strategic markets, including the US Government,” said AST SpaceMobile, Inc. (NASDAQ:ASTS) Chairman and CEO Abel Avellan in a statement.
“We also have planned orbital launches every one to two months on average during 2025 and 2026,” he added.
Additionally, AST SpaceMobile, Inc. (NASDAQ:ASTS) is planning to deploy nationwide intermittent service in the US by the end of the year, followed by the UK, Japan, and Canada in the first quarter next year. This, alone, is expected to rake in revenues between $50 million and $75 million from government and commercial customers in the second half of the year.
In the second quarter, AST SpaceMobile, Inc. (NASDAQ:ASTS) widened its net loss attributable to shareholders by 37 percent to $99.4 million from $72.5 million in the same period last year, despite revenues growing by 28 percent to $1.156 billion from $900 million year-on-year.
In the first half, attributable net loss grew by 57 percent to $145.1 million from $92.28 million in the same period last year, while revenues increased by 33.8 percent $1.874 billion from $1.4 billion year-on-year.
8. Paramount Skydance Corp. (NASDAQ:PSKY)
Paramount Skydance ended 8.4 percent higher on Tuesday after rallying as much as 11.5 percent at intra-day trade, with investor sentiment fueled by its bagging of $7.7-billion exclusive media rights to the Ultimate Fighting Championship (UFC).
In a statement, Paramount Skydance Corp. (NASDAQ:PSKY) said it entered into an agreement with TKO Group Holdings, Inc., a premium sports and entertainment company, to exclusively air UFC for seven years beginning in 2026.
The deal would include UFC’s full slate of 13 marquee numbered events and 30 Fight Nights through its direct-to-consumer streaming platform, Paramount+, with select numbered events to be simulcast on CBS.
As part of the agreement, Paramount Skydance Corp. (NASDAQ:PSKY) will move UFC away from the existing Pay-Per-View model and make the latter available at no additional cost to Paramount+ subscribers in the US. It also intends to explore UFC rights outside the US in the future.
UFC is the world’s premier mixed martial arts (MMA) organization. In the US alone, UFC has approximately 100 million fans who are highly engaged across linear, digital, and social platforms.
7. United Airlines Holdings Inc. (NASDAQ:UAL)
United Airlines extended its rally to a third consecutive day on Tuesday, jumping 10.23 percent to close at $98.47 apiece as investors gobbled up shares following the July inflation report that saw cheaper gas prices and higher airfares.
According to the Labor Department, airfares rose by 4 percent last month following a 0.1 percent decline in June. Meanwhile, gas prices dropped by 1.9 percent and are now lower by 9 percent year-on-year.
The twin news sparked optimism among investors that both factors would bolster revenues for the company at least in the third quarter of the year.
In the second quarter, United Airlines Holdings Inc. (NASDAQ:UAL) earned $973 million, lower by 23 percent than the $1.3 billion in the same period last year. Total operating revenues inched up by 1.7 percent to $15.2 billion from $14.98 billion year-on-year.
Notably, it saw fuel prices decline by 11.4 percent to $2.77 billion during the period from $3.13 billion year-on-year. Fuel prices mark the company’s second largest expense so far.
Additionally, United Airlines Holdings Inc. (NASDAQ:UAL) said over the past few weeks that it saw a pickup in travel bookings, a trend that, if sustained, could push it to raise its full-year profit outlook.
“Demand feels to us like it has inflected upward and is returning toward the normal trend line,” CEO Scott Kirby told analysts during the earnings call last month.
6. Tencent Music Entertainment Group (NYSE:TME)
Tencent Music extended its winning streak to a 7th consecutive day on Tuesday, jumping 11.85 percent to close at $25.39 apiece as investors cheered its strong earnings performance in the second quarter of the year.
In its updated report, Tencent Music Entertainment Group (NYSE:TME) said net income attributable to shareholders jumped by 43 percent to 2.4 billion yuan from 1.68 billion yuan in the same period last year.
Revenues increased by 18 percent to 8.4 billion yuan from 7.16 billion year-on-year, primarily due to strong growth in revenues from online music services, which partially offset the decline in revenues from social entertainment services.
In the first half, attributable net income expanded by 116 percent to 6.7 billion yuan from 3.1 billion yuan year-on-year, while revenues grew by 13.4 percent to 15.8 billion yuan from 13.9 billion yuan in the same comparable period.
“We delivered high-quality growth in the second quarter, achieving solid year-over-year increases in both revenue and profitability. While our music subscription business remained a core growth driver, our expanding suite of music-related services—including advertising, concerts, and artist merchandise—showed impressive momentum. As we continue to scale our platform, we are focused on building a vibrant, one-stop music service destination that empowers content creators and reshapes connections with music lovers in meaningful ways,” said Tencent Music Entertainment Group (NYSE:TME) Executive Chairman Cussion Pang.
5. American Airlines Group Inc. (NASDAQ:AAL)
American Airlines ended three consecutive days of losses on Tuesday, finishing 12.04 percent higher as investor optimism was fueled by a flurry of positive developments, including higher airfares and lower fuel expenses.
American Airlines Group Inc. (NASDAQ:AAL) rallied alongside its peers after the Labor Department announced on Tuesday that airfares rose by 4 percent last month following a 0.1 percent decline in June. Meanwhile, gas prices dropped by 1.9 percent and are now lower by 9 percent year-on-year.
The news bolstered optimism for higher revenues for the company, at least for the third quarter of the year.
In the second quarter alone, American Airlines Group Inc. (NASDAQ:AAL) reported a 16-percent decrease in net income at $599 million versus the $717 million in the same period last year. Operating revenues were flat at $14 billion.
Notably, fuel expenses in the said period were down by 13 percent year-on-year to $2.66 billion from $3.06 billion.
In the first half, American Airlines Group Inc. (NASDAQ:AAL) said net income fell by 69 percent to $126 million from $405 million in the same period last year, while total operating revenues were flat at $26.9 billion.
4. Unity Software Inc. (NYSE:U)
Unity Software snapped a two-day losing streak on Tuesday, jumping 12.35 percent to close at $37.29 apiece, mirroring a broader market optimism thanks to cooler-than-expected inflation data.
In recent news, Unity Software Inc. (NYSE:U) narrowed its attributable net loss in the second quarter of the year by 13 percent to $108.8 million from $125.6 million in the same period last year. Revenues dipped by 1.8 percent to $440.9 million from the $449 million in the same comparable period, dragged by 4 percent lower revenues from its Grow solutions segment, which offset a 2-percent uptick in revenues from its Create solutions.
Attributable net loss in the first six months also shrank by 55 percent to $186.4 million from $416.6 million in the same comparable period. Revenues declined by 3.7 percent to $875.9 million from $909.6 million year-on-year.
For the third quarter of the year, Unity Software Inc. (NYSE:U) said it expects revenues to hit $440 million to $450 million, with Grow to rise on a quarter-on-quarter basis by mid-single digits, and with Create to dip in the same comparable period due to the impact of a larger customer base in the second quarter.
It also expects adjusted EBITDA to hit $90 million to $95 million.
3. Liquidia Corp. (NASDAQ:LQDA)
Liquidia rallied for a third straight day on Tuesday, ending 13.68 percent higher at $24.10 as investor sentiment was bolstered by the higher prescription rate for its newly approved pulmonary hypertension treatment, shunning a dismal earnings performance in the second quarter of the year.
In an updated report, Liquidia Corp. (NASDAQ:LQDA) said its Yutrepia treatment, which was approved by the Food and Drug Administration (FDA) last May and was commercially launched in the first week of June, already registered as many as 900 unique patient prescriptions.
“The second quarter was a defining period for Liquidia with the FDA approval and rapid commercial launch of YUTREPIA inhalation powder. More than 350 physicians across the country have already prescribed YUTREPIA to treat patients with pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD), including those new to prostacyclin treatment or transitioning from Tyvaso, Tyvaso DPI, and even from oral prostacyclins,” said Liquidia Corp. (NASDAQ:LQDA) CEO Roger Jeffs.
In other news, Liquidia Corp. (NASDAQ:LQDA) saw a 44.7-percent wider net loss in the second quarter of the year at $41.6 million versus $28.67 million in the same period last year.
Revenues expanded by 144 percent to $8.8 million from $3.6 million in the same comparable period.
2. Sea Limited (NYSE:SE)
Sea Limited snapped a two-day losing streak on Tuesday, closing 19.07 percent higher after rallying as high as 21.7 percent at intra-day trading, with investor sentiment bolstered by a stellar earnings performance in the second quarter of the year.
In its updated report, Sea Limited (NYSE:SE) said net income increased by more than fivefold to $414 million from only $79.9 million in the same period last year. Revenues grew 38.2 percent to $5.2 billion from $3.8 billion year-on-year, on the back of strong revenues across all segments.
In the first half, net income attributable to shareholders soared by 1,294 percent to $809 million from only $58.2 million in the same comparable period. Revenues grew by 34.67 percent to $10.1 billion from $7.5 billion year-on-year.
“Given the high potential of our markets and the stage we are at in our business now, we will continue to prioritize growth, which will pave the way for us to maximize our long-term profitability. At the same time, our company has reached a stage where we can pursue growth opportunities while improving profitability,” said Sea Limited (NYSE:SE) Chairman and CEO Forrest Li.
Founded in 2009, Sea Limited (NYSE:SE) is a leading global consumer internet company that owns brands, namely Shopee, Garena, and Monee.
1. Hanesbrands Inc. (NYSE:HBI)
Hanesbrands soared by 27.85 percent on Tuesday to close at $6.18 apiece as investor sentiment was bolstered by reports that it was set to be acquired by Canada-based Gildan Activewear for $5 billion.
According to news reports citing an unnamed source privy to the matter, Gildan Activewear and Hanesbrands Inc. (NYSE:HBI) are currently in advanced discussions for the potential merger, which could be decided on by the end of the week. The reports said the talks could still go either way.
Last week, Hanesbrands Inc. (NYSE:HBI) reported an impressive earnings performance in the second quarter and first half of the year.
In the quarter period, the company swung to a net income of $81.6 million from a $298 million net loss in the same period last year. Net sales inched up by only 1.8 percent to $991 million from $973 million year-on-year.
In the first half of the year, Hanesbrands Inc. (NYSE:HBI) netted $72.15 million, reversing a $337.5 million net loss in the same comparable period.
Net sales also grew by 1.9 percent to $1.75 billion from $1.72 billion year-on-year.
For the full-year period, Hanesbrands Inc. (NYSE:HBI) expects net sales to hit $3.53 billion, which includes projected headwinds of approximately $35 million from changes in foreign currency exchange rates.
In the third quarter alone, net sales were targeted at $900 million, including projected headwinds of $7 million.
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