Ten stocks soared higher on Tuesday, boasting double-digit gains as investors took heart from a flurry of strong corporate earnings for the first quarter of the year.
The stocks mirrored a broader market optimism, with Wall Street’s three major indices finishing in the green. The Nasdaq grew by 1.03 percent, the S&P 500 increased by 0.81 percent, while the Dow Jones was up by 0.73 percent.
Indices aside, we focus on the 10 stocks delivering outsized gains on Tuesday and break down the reasons behind their performance.
To come up with the list, we considered the stocks with a $2 billion market capitalization and 5 million shares in trading volume.
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10. Life Time Group Holdings Inc. (NYSE:LTH)
Life Time Group grew its share prices by 11.80 percent on Tuesday to close at $29.38 apiece, following news of improved earnings performance in the last quarter alongside a higher growth outlook for full-year 2026.
In an updated report, Life Time Group Holdings Inc. (NYSE:LTH) said that net income jumped by 15.8 percent during the period to $88 million from $76 million in the same quarter last year, primarily due to improved business performance. Revenues increased by 11.7 percent to $788.7 million from $706 million year-on-year, primarily driven by continued strength in membership dues and in-center revenues, among others.
Total subscriptions increased to 888,050, or by 0.9 percent compared to the same quarter in 2025.
Encouraged by the results, Life Time Group Holdings Inc. raised its growth outlook for full-year 2026, with net income targeted to hit $340 million to $345 million, versus the $330 million to $336 million previously.
Revenues are expected at $3.32 billion to $3.35 billion, higher than its earlier guidance of $3.3 billion to $3.33 billion.
Adjusted EBITDA is pegged at $925 million to $940 million, or a jump from its prior expectations of $910 million to $925 million.
Also this year, Life Time Group Holdings Inc. said that it is scheduled to open 12 to 14 new clubs, which are predominantly large-format, ground-up athletic country clubs.
9. Applied Digital Corp. (NASDAQ:APLD)
Applied Digital rallied for a second day on Tuesday, surging 11.93 percent to close at $39.88 apiece, as investor sentiment was bolstered by the successful separation of its cloud business into a new entity in line with its plans to focus and grow on its core strengths.
In a statement, Applied Digital Corp. (NASDAQ:APLD) said that EKSO Bionics Holdings Inc., which it recently acquired, officially changed its name to ChronoScale Corporation and began trading on the stock market under the ticker symbol “CHRN.”
ChronoScale will operate as an accelerated compute platform purpose-built to support demanding artificial intelligence workloads designed to deliver scalable, GPU-based infrastructure optimized for AI training, inference, and high-performance computing.
Applied Digital Corp. currently owns a 97 percent stake in ChronoScale, equivalent to 138 million shares plus a new $15.75 million investment, or 1.4 million shares.
“Applied Digital remains focused on delivering large-scale AI infrastructure with stable, long-term cash flows. At the same time, we believe ChronoScale is positioned to participate in the growth of the cloud compute layer, where we expect demand to continue to accelerate and capacity to remain constrained, which we expect to support strong utilization and favorable pricing dynamics,” Applied Digital Corp. CEO Wes Cummins said, noting that the new structure is intended to allow both businesses to pursue their respective opportunities while giving investors clear exposure to each.
8. Sandisk Corp. (NASDAQ:SNDK)
Shares of Sandisk rallied for a fifth consecutive day on Tuesday to hit a fresh all-time high, as investors increased their exposure to the company, buoyed by its stellar earnings performance and highly optimistic outlook for the fourth quarter of fiscal year 2026.
At intra-day trading, the stock surged to its highest price of $1,418.88 before trimming gains to end the session just up by 11.98 percent at $1,406.32 apiece.
In an updated report, Sandisk Corp. (NASDAQ:SNDK) said that it swung to a net income of $3.615 billion in the third quarter of the year, marking a 287 percent improvement from the $1.933 billion net loss in the same period last year.
Revenues more than tripled to $5.95 billion from $1.695 billion year-on-year, thanks to a 233-percent jump in revenues from data centers, helped by a 118-percent increase in the share of its Edge business. Meanwhile, the consumer segment saw a drop of 10 percent.
For the fourth quarter of the fiscal period, Sandisk Corp. is targeting to more than quadruple its revenues to a range of $7.75 billion to $8.25 billion, or an implied growth of 308 percent to 334 percent from the $1.9 billion posted in the same period a year earlier.
Non-GAAP diluted net income per share is pegged at $30 to $33, versus $0.29 year-on-year.
7. Intel Corp. (NASDAQ:INTC)
Intel Corp. climbed to a fresh all-time high on Tuesday as investors began positioning portfolios ahead of the upcoming participation of its chief executive officer (CEO), Lip-Bu Tan, in a technology conference this month.
In an updated report, Intel Corp. (NASDAQ:INTC) said that Tan would participate in a fireside chat at the JPMorgan Global Technology, Media and Communications Conference on May 19, to be followed by Chief Finance Officer John Pitzer in another fireside chat at the BofA Global Technology Conference on June 2.
Both executives are set to discuss the company’s business and corporate strategy.
In recent news, Intel Corp. reported a stellar earnings performance in the first quarter of the year, with revenues growing by 7 percent to $13.6 billion versus $12.7 billion in the same period in 2025, primarily driven by the strong demand for CPUs amid the rapidly growing AI era.
For the second quarter of the year, Intel Corp. is targeting revenues to grow by 7 to 14.7 percent to a range of $13.8 billion to $14.8 billion, versus the $12.9 billion in the same period in 2025.
Meanwhile, last year’s second-quarter revenues were flat from the same period in 2024.
6. Ambev SA (NYSE:ABEV)
Ambev soared to a nearly five-year high on Tuesday, as investors cheered its strong earnings performance in the first quarter of the year.
At intra-day trading, the stock climbed to a record high of $3.42 before trimming gains to end the session just up by 16.21 percent at $3.37 apiece.
In an updated report on the same day, Ambev SA (NYSE:ABEV) said that it was able to grow its net income attributable to shareholders in the first three months of the year by 2 percent to R$3.768 billion from R$3.693 billion in the same period last year, despite revenues ending flat at R$22.46 billion.
In a statement, Ambev SA Chief Executive Officer Carlos Lisboa said that the company made a solid start to 2026, “with consistent execution of our growth strategy driving positive beer volumes, double-digit Normalized EBITDA growth and margin expansion.”
Consolidated beer volumes grew by low single digits, supported by the continued strengthening of its brands, mega platform activations, and disciplined commercial execution, which helped grow market share across several markets.
Headquartered in Brazil, Ambev SA is one of the largest brewery companies in the Southern Hemisphere, which also manufactures soft drinks, energy drinks, juices, teas, and mineral water, among others.
5. Cytokinetics Inc. (NASDAQ:CYTK)
Cytokinetics rallied for a second day on Tuesday, to hit a new 52-week high, as investors gobbled up shares following a stellar first quarter revenue performance, supported by the strong sales for its newly-launched heart disease treatment, myqorzo.
At intra-day trade, the stock climbed to a record high of $80.20 before paring gains to finish the session just up by 16.71 percent at $77.09 apiece.
In an updated report, Cytokinetics Inc. (NASDAQ:CYTK) said that it raked in $19.3 million in revenues for the first quarter of the year, marking a 1,121 percent expansion from only $1.58 million in the same period last year.
Growth was primarily driven by net product, license, and milestone revenues, which amounted to $16.7 million, versus none in the same period a year earlier.
Meanwhile, Cytokinetics Inc. remained at a net loss of $206 million, or 28 percent higher than the $161 million in the same comparable quarter.
“The US launch of myqorzo commenced strongly in late January and continues to accelerate. We promptly activated a solid prescriber base of early adopters and are encouraged by initial commercial metrics that are exceeding our expectations,” Cytokinetics Inc. President and CEO Robert Blum said.
The company began the commercial launch of Myqorzo in January this year, with more than 275 unique healthcare providers already prescribing the medicine.
It also secured the approval of the European Commission for Myrqozo to treat symptomatic (NYHA class II-III) oHCM in adult patients, with the first launch targeted in Germany within the second quarter of the year.
4. Fastly Inc. (NASDAQ:FSLY)
Fastly grew its share prices by 17.72 percent on Tuesday to close at $32.36 apiece, as investors loaded portfolios ahead of the results of its first quarter earnings performance, which came shortly after market close.
Earlier, the company announced targets of growing its revenues by 16 to 20.4 percent to a range of $168 million to $174 million in the first quarter of the year, versus the $144.5 million in the same period last year.
It also expects to swing to a non-GAAP net income per share of $0.07 to $0.10 from a non-GAAP net loss per share of $0.05 posted in the same comparable period.
Non-GAAP operating income is pegged at $14 million to $18 million, or an implied reversal of the $5.8 million non-GAAP operating loss year-on-year.
In other news, Fastly Inc. (NASDAQ:FSLY) earlier this month teamed up with Spain-based professional football association, Laliga, in combating piracy and illegal streaming of its live sports.
Under the agreement, Fastly Inc. and Laliga will collaborate on a joint anti-piracy innovation project leveraging AI for a targeted, intelligent detection system that is able to identify illegal streams in real time.
Fastly and Laliga said that they are actively collaborating with other technology companies, publishers, and regulators to develop software solutions and best practices that quickly detect and disable unauthorized streaming while leaving all other traffic untouched.
3. Cipher Digital Inc. (NASDAQ:CIFR)
Cipher Digital grew its share prices by 23.53 percent on Tuesday to finish at $22.10 apiece, as investors took heart from the massive progress of its two data center developments, saying that 2026 “is the year of execution.”
In an updated report, Cipher Digital Inc. (NASDAQ:CIFR) announced developments at its Barber Lake and Black Pearl campuses, saying that it built momentum from the bagging of new long-term deals from hyperscalers.
Last month, Cipher Digital Inc. successfully topped out the Barber Lake data center, with mechanical, electrical, and networking work now underway.
Meanwhile, retrofitting of the existing data center structure for the first phase of Black Pearl remains on track, with layout and site work for phase 2 targeted in April.
“We also secured our first corporate revolving credit facility, strengthening our liquidity position by providing up to $200 million of committed borrowing capacity from leading global financial institutions. Looking forward, we will continue to build on this momentum and establish ourselves as the leading HPC development platform,” Cipher Digital Inc. CEO Tyler Page said.
The announcement overshadowed a dismal earnings performance in the first quarter of the year, with net loss attributable to shareholders widening by 192 percent to $114 million from only $38.97 million in the same period last year.
Revenues came solely from Bitcoin mining, dropping 28.8 percent to $34.8 million from $48.9 million in the same comparable period.
2. Viridian Therapeutics Inc. (NASDAQ:VRDN)
Viridian Therapeutics extended gains for a second day on Tuesday, soaring 33.36 percent to close at $18.75 apiece, as investor sentiment was bolstered by the looming commercialization of its eye disease treatment.
In an updated report, Viridian Therapeutics Inc. (NASDAQ:VRDN) announced readiness for the launch of veligrotug, its treatment for active and chronic thyroid eye disease (TED).
It said that it already hired a field team, including sales, to support the commercialization and supply chain infrastructure, and engaged with physicians, payers, and key opinion leaders for the treatment.
“We believe we are well-prepared and well-positioned to deliver a successful launch. With the positive topline data from REVEAL-1 and REVEAL-2, in active and chronic TED, respectively, we believe that subcutaneous elegrobart has the potential to be the simplest and most convenient treatment for TED,” Viridian Therapeutics Inc. President and CEO Steve Mahoney said.
The company also submitted a marketing authorization application with the European Medicines Agency last January, which was accepted for review in February 2026.
Veligrotug aside, Viridian Therapeutics Inc. widened its net loss attributable to common shareholders by 30 percent in the first quarter of the year to $92 million from $70.69 million in the same period last year.
Total revenues soared by 96 percent to $141 million from $72 million year-on-year.
1. DigitalOcean Holdings Inc. (NYSE:DOCN)
DigitalOcean extended its winning streak to a third straight session on Tuesday, to hit a new all-time high, as investors took heart from its stellar revenue performance and a highly optimistic outlook for the second quarter of the year.
At intra-day trade, the stock climbed to its highest price of $153.47 before paring gains to finish the session just up by 40.40 percent at $152.77 apiece.
In a statement, DigitalOcean Holdings Inc. (NYSE:DOCN) said that it raked in $257.9 million in revenues for the first three months of the year, marking a 22.4 percent jump from the $210.7 million in the same period a year earlier.
However, net income attributable to shareholders fell by 58.7 percent to $15.77 million from $38.2 million.
Looking ahead, DigitalOcean Holdings Inc. is targeting its revenues for the second quarter of the year to grow by 24 to 25 percent to a range of $272 million to $274 million. For the full-year period, revenues are expected to soar by 25 to 27 percent to a range of $1.13 billion to $1.145 billion.
“The Inference and agentic era needs its own cloud. DigitalOcean built it, and our record Q1 results demonstrate the strength of our platform,” DigitalOcean Holdings Inc. CEO Paddy Srinivasan said, noting that it exceeded its revenue and profitability guidance.
“We continue to invest in what we believe is a generational market opportunity, adding approximately 60 MW of incremental committed data center capacity that will come online throughout 2027 to support growing customer demand,” he noted.
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