Ten stocks soared higher on Tuesday, bucking a lackluster performance on Wall Street, as investors loaded positions amid developments in their respective industries.
Meanwhile, only the S&P 500 and the Nasdaq finished in the green, with gains of 0.08 percent and 0.10 percent, respectively. The Dow Jones finished down by 0.18 percent.
In this article, we spotlight the 10 top-performing companies on Tuesday and detail the reasons behind their gains.
To come up with the list, we focused on the stocks with a $2 billion market capitalization and 5 million shares in trading volume.
Photo by Alesia Kozik on Pexels
10. United Microelectronics Corp. (NYSE:UMC)
United Microelectronics grew its share prices by 9.08 percent on Tuesday to close at $9.31 apiece, as investors loaded portfolios ahead of dividends, as well as the sales performance report for March, which would determine how it fared during the first quarter of the year.
The company is scheduled to hold an annual general meeting on May 27, 2026, where it will seek the approval of its shareholders for a number of corporate agenda items, including the payment of NT$2.60 in cash per share held by its shareholders.
Additionally, United Microelectronics Corp. (NYSE:UMC) would seek the go-signal for changes in the company’s senior management, particularly the installation of Jason Wang as the new chief executive officer; Ming Hsu as president, chief operating officer, and member of the board; and SC Chien as chairman of Unimicron Technology—a company owned by United Microelectronics Corp..
In other developments, investors also loaded portfolios amid announcements of strong net sales in the past two months of the year, with figures in January and February already jumping by 5.33 percent and 6.33 percent, respectively.
United Microelectronics Corp. is a pure-play semiconductor company that manufactures chips for other companies, namely Texas Instruments, Broadcom, and Qualcomm, among others.
9. Viavi Solutions Inc. (NASDAQ:VIAV)
Viavi Solutions soared to a new 24-year high on Tuesday, as renewed optimism for the artificial intelligence sector spilled over to listed optical component makers.
In intra-day trading, the stock climbed to a record high of $38.55 before paring a cent to finish the session up by 7.44 percent at $38.54 apiece. The last time it touched the said level was in December 2001.
Viavi Solutions Inc. (NASDAQ:VIAV) rallied alongside its counterparts, namely Coherent Corp., Lumentum Holdings, and Applied Optoelectronics, among others, as investors placed bets on sectors riding the AI wave as a risk-mitigation strategy from the ongoing tensions in the Middle East.
In other news, Viavi Solutions Inc. said that it recently partnered with Ground Control to integrate its Secure microPNT STL-1000 LEO Receiver Module into the RockFleet Assured asset tracking and assured navigation solution.
According to the listed firm, the Secure microPNT STL-1000enables tracking, authentication and assured navigation in Denied, Degraded, and Disrupted Space Operational Environment (D3SOE), providing resiliency capabilities to safeguard critical infrastructure and assets.
8. Humana Inc. (NYSE:HUM)
Humana extended its winning streak to a 5th consecutive day on Tuesday, jumping 7.94 percent to close at $197.15 apiece, as investors loaded portfolios ahead of the results of its earnings performance for the first quarter of the year.
According to the company, it will announce its financial and operating highlights before market open on April 29, 2026, to be followed by a conference call to elaborate on the results.
Before the said meeting, Humana Inc. (NYSE:HUM) would distribute dividends amounting to $0.885 per share to all shareholders on record as of March 27.
The dividends followed the results of its earnings performance last year, with attributable net income dipping by 1.6 percent to $1.188 billion from $1.207 billion in 2024. Total revenues, on the other hand, jumped by 10.10 percent to $129.66 million from $117.76 million year-on-year.
In the fourth quarter alone, Humana Inc. widened its net loss by 14.86 percent to $796 million from $693 million, while total revenues increased by 11.3 percent to $32.5 billion from $29.2 billion year-on-year.
Humana Inc. is one of the leading healthcare companies in the US, which owns Humana insurance and CenterWell healthcare services.
7. AXT Inc. (NASDAQ:AXTI)
AXT grew its share prices by 8.26 percent on Tuesday to close at $45.46 apiece, as investors resumed buying positions ahead of an expected robust earnings performance for the first quarter of the year.
According to the company, it would announce its financial and operating highlights for January to March after market close on April 30, 2026. A conference call will be held to elaborate on the results.
Earlier this year, AXT Inc. (NASDAQ:AXTI) posted an optimistic outlook for the first quarter of the year, saying that it expects to achieve sequential revenue growth amid demand growth in indium phosphide for the AI infrastructure build-out, supported by its progress in export permits, which were lacking in the fourth quarter last year.
Indium phosphide is a high-performance semiconductor primarily used for high-speed electronics, optoelectronics, and photonics, and is crucial for various industries, including fiber optic communications, mobile networks, automotive lidars, and laser technologies, among others.
“We are in a strong position to achieve sequential revenue growth in Q1, driven primarily by growth in indium phosphide for the AI infrastructure build-out,” AXT Inc. CEO Morris Young said.
“We are also on track to double our indium phosphide manufacturing capacity this year and have a strong balance sheet to support our continued business expansion,” he noted.
Last year, AXT Inc. widened its attributable net loss by 83 percent to $21.26 million from $11.6 million in 2024. Revenues also declined by 11 percent to $88 million from $99 million year-on-year.
In the fourth quarter alone, attributable net loss narrowed by 31 percent to $3.5 million from $5.09 million, while revenues dropped by 8 percent to $23 million from $25 million.
6. Sasol Ltd. (NYSE:SSL)
Sasol surged to a two-year high on Tuesday, as investors loaded portfolios in its stock amid the intensifying trade tensions in the Middle East.
In intra-day trading, the stock climbed to a record high of $13.68 before trimming gains to finish the session just up by 8.97 percent at $13.60 apiece, with the rally primarily driven by uncertainties in the Middle East, as the US issued fresh tirades against Iran, saying that “a whole civilization could die” if Iran fails to strike a deal on the Strait of Hormuz by 8 PM ET.
The rally on Sasol Ltd. (NYSE:SSL), on the other hand, was boosted by optimism for a continued oil price surge, while markets stayed on the sidelines ahead of developments between the two countries.
Last month, investment firm JPMorgan turned bullish for Sasol Ltd., upgrading its price target by 122 percent and upgrading its rating to “overweight” from “underweight” previously, on expectations that the latter would benefit from higher oil prices and supply disruptions.
Additionally, JPMorgan expects benchmark crude oil prices to jump to $120 per barrel and further to $250 if the Strait of Hormuz—a critical waterway where 20 percent of the global oil supply passes through—closes for six months.
5. Applied Optoelectronics Inc. (NASDAQ:AAOI)
Applied Optoelectronics extended its winning streak to a fourth straight session on Tuesday, jumping 9.48 percent to finish at $117.64 apiece, as investors resumed buying positions on strong confidence for its data transceivers.
Earlier this month, Applied Optoelectronics Inc. (NASDAQ:AAOI) said that one of its major customers upsized to $124 million its order for 800G single-mode data center transceivers, more than doubling its existing backlog for the latter.
“This increased order for our 800G transceivers reflects both the customer’s confidence in AOI and the growing demand for 800G optics,” Applied Optoelectronics Inc. Chairman and CEO Dr. Thompson Lin said
“Following product qualification, we expect to begin delivering both the initial order—totaling more than $53 million—and this additional order in the second quarter. We anticipate completing delivery of the initial order in the third quarter, with this new order by the end of this year. We also recently shipped the first 10,000 units of an 800G single-mode transceiver order to another hyperscale datacenter customer,” he noted.
Launched in September last year, the 800G optical transceivers are built for high-performance AI and cloud data center networks requiring superior port density and bandwidth efficiency. It is available in standard pluggable form factors and is essential for high-capacity spine switching and high-speed GPU cluster interconnects.
4. UnitedHealth Group Inc. (NYSE:UNH)
UnitedHealth extended its winning streak to a 6th straight session on Tuesday, jumping 9.37 percent to finish at $307.73 apiece, as investors took heart from the US government’s higher reimbursement rates for Medicare Advantage plans next year.
In an updated report, the Centers for Medicare & Medicaid Services (CMS) said that it approved a net average increase of 2.48 percent in the said policies, markedly higher than the 0.09 percent announced in January this year, translating to more than $13 billion in additional payments for 2027.
“This expected increase includes consideration of the various elements that impact MA payments, such as growth rates of underlying costs, 2026 Star Ratings for 2027 quality bonus payments, and risk adjustment updates,” the CMS said.
As one of the leading Medicare providers, UnitedHealth Group Inc. (NYSE:UNH) is expected to benefit from the increase through a boost in profit margins.
Apart from UnitedHealth Group Inc., other healthcare stocks also surged from the news, namely Humana Inc., CVS Health, and Oscar Health, among others.
Meanwhile, UnitedHealth Group Inc. is set to release the results of its financial performance in the first quarter of the year before market open on Tuesday, April 21. A conference call will be held to elaborate on the results.
3. Paramount Skydance Corp. (NASDAQ:PSKY)
Paramount Skydance soared for a 6th straight day on Tuesday, climbing 10.66 percent to close at $10.90 apiece, as investors gobbled up shares following news that it earned the backing of three Middle Eastern funds for its $110-billion acquisition of Warner Bros Discovery.
A report by the Wall Street Journal, citing people privy to the matter, said that Paramount Skydance Corp. (NASDAQ:PSKY) inked equity commitments amounting to $24 billion from three sovereign wealth funds led by Saudi Arabia to help back its takeover of Warner Bros.
Of the total, Saudi Arabia’s Public Investment Fund pledged $10 billion, with the support of Qatar Investment Authority and Abu Dhabi’s L’imad Holding.
Apart from the Persian Gulf-based investment firms, Paramount Skydance Corp. also secured a $45.7 billion backing from billionaire Larry Ellison and his trust, as well as RedBird Capital Partners, which agreed to invest $250 million.
Paramount Skydance Corp. expects to close the acquisition in the third quarter of the year.
In the event that the transaction is not closed by September 30, Paramount Skydance Corp. would pay each WBD shareholder a $0.25 per share of what it called a “ticking fee” for each quarter until the successful closing of the transaction.
2. Alignment Healthcare Inc. (NASDAQ:ALHC)
Alignment Healthcare soared by 16.01 percent on Tuesday to close at $21.66 apiece, as investors cheered the higher reimbursement rates for Medicare Advantage plans next year.
In an updated report, the Centers for Medicare & Medicaid Services (CMS) said that it approved a net average increase of 2.48 percent in the said policies, markedly higher than the 0.09 percent announced in January this year, translating to more than $13 billion in additional payments for 2027.
“This expected increase includes consideration of the various elements that impact MA payments, such as growth rates of underlying costs, 2026 Star Ratings for 2027 quality bonus payments, and risk adjustment updates,” the CMS said.
Following the news, Alignment Healthcare Inc. (NASDAQ:ALHC) rallied alongside its counterparts, namely UnitedHealth, CVS Health, and Humana, among others.
Alignment Healthcare Inc. is among the companies offering government services such as Medicare and Medicaid. It is expected to report its earnings performance in the first quarter of the year as early as the last week of April.
For the period, Alignment Healthcare Inc. is targeting revenues of $5.135 billion to $5.190 billion, as well as health plan membership of 292,000 to 298,000.
1. Avis Budget Group Inc. (NASDAQ:CAR)
Avis Budget soared to a nearly four-year high on Tuesday amid increased short interest for its stock, while investors placed bets on rental car stocks on expectations that they would benefit from the travel disruptions triggered by the tensions in the Middle East.
In intra-day trading, Avis Budget Group Inc. (NASDAQ:CAR) climbed to its highest price of $256.99 before paring gains to finish the session just up by 20.01 percent at $255.15 apiece.
Avis Budget Group Inc. is a heavily shorted company, with at least 20 percent of its total float sold short, giving room for potential breakout rallies.
Last year, the company narrowed its net loss by 51 percent to $889 million from $1.82 billion in 2024. Revenues decreased by 1.6 percent to $11.6 billion from $11.79 billion year-on-year.
In the fourth quarter alone, Avis Budget Group Inc. incurred an attributable net loss of $747 million, or 61.8 percent lower than the $1.958 billion year-on-year. Revenues dipped 1.7 percent to $2.66 billion from $2.7 billion year-on-year.
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