In this article, we deep dive into the 5 stocks boasting huge double-digit gains on Tuesday. For a deeper discussion and an extended list, please see 10 Stocks Delivering Massive Returns.
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5. Coherent Corp. (NYSE:COHR)
Shares in Coherent Corp. climbed to a fresh all-time high on Tuesday, as investors poured funds into AI players following Nvidia Corp. CEO Jensen Huang’s highly optimistic outlook for its counterpart.
In intra-day trading, the stock surged to its highest price of $433.69 before paring gains to end the session just up by 17.63 percent at $426.89 apiece.
Coherent Corp. (NYSE:COHR) mimicked the rally in its peers after Huang deemed Marvell Technology’s business critical in the growth and development of the artificial intelligence sector.
He said that Marvell holds the potential to become the “next trillion-dollar company.”
Similar to Marvell’s business model, Coherent Corp. (NYSE:COHR) is also engaged in the AI networking and optical interconnect market. Investors quickly placed their bets on its stock on expectations that the strong demand would spill over to the overall sector.
In other news, Coherent Corp. (NYSE:COHR) last month received an optimistic coverage from Bank of America, upgrading its price target by 9 percent to $400 from $365 previously.
4. Hewlett Packard Enterprise Company (NYSE:HPE)
Hewlett-Packard extended its winning streak to a fourth consecutive day on Tuesday, soaring to a new all-time high as investors took heart from its second-quarter earnings blowout, while positioning portfolios ahead of its dividend cutoff.
In intra-day trading, Hewlett Packard Enterprise Company (NYSE:HPE) surged to its highest price of $64.25 before paring gains to end the session just up by 19.47 percent at $56.15 apiece.
The rally was primarily driven by its $1.018 billion net income attributable to shareholders in the first six months of the year, reversing a $481 million net loss in the same period.
Net revenues surged by 29 percent to $19.98 billion from $15.48 billion year-on-year.
In the second quarter alone, attributable net income stood at $595 million, reversing a $1.079 billion net loss in the same quarter last year.
Revenues soared by 40 percent to $10.68 billion from $7.6 billion year-on-year.
“HPE delivered an exceptional quarter with record-breaking revenue, higher-than-anticipated profitability, and increased free cash flow, reflecting strong execution and healthy demand across the business,” said President and CEO Antonio Neri.
“Customers continue to invest in modernizing their infrastructure and scaling AI, and our performance shows the strength of our combined networking portfolio and the value we are delivering to our shareholders.”
Following the results, Hewlett Packard Enterprise Company (NYSE:HPE) raised its revenue growth outlook for the full-year period by 29 to 33 percent. It also expects its third quarter revenues to grow by 25.8 percent to 32 percent to a range of $11.5 billion to $12.1 billion, versus $9.14 billion year-on-year.
In other news, Hewlett Packard Enterprise Company (NYSE:HPE) said that its board of directors authorized the distribution of dividends amounting to $0.1425 per share to all shareholders on record as of June 16, 2026, payable on July 15.
3. Marvell Technology Inc. (NASDAQ:MRVL)
Marvell Technology climbed to a new all-time high on Tuesday as investors took heart from Nvidia Corp. CEO Jensen Huang’s optimism that it could become the next trillion-dollar company.
In intra-day trading, the stock soared to its highest price of $291.30 before paring gains to end the session just up by 32.52 percent at $290.79 apiece.
Huang said in an onstage appearance at the Computex Week in Taipei, Taiwan, on Monday that Marvell Technology Inc. (NASDAQ:MRVL) could become the “next trillion-dollar company” amid its networking and connectivity chips essential to the data centers where computing tasks are spread across thousands of connected chips that need to share data quickly.
“When you take a computing problem, and you disaggregate it into a lot of parts, and you distribute it across the entire data center, what’s necessary is connectivity…that’s the reason why Marvel is so essential,” Huang said.
Optimism was further supported by Nvidia’s earlier backing of Marvell Technology Inc. (NASDAQ:MRVL), having invested $2 billion in the latter and joined forces to connect their technology through NVIDIA NVLink Fusion, offering customers building on the Nvidia infrastructures a greater choice and flexibility in developing next-generation infrastructure.
The companies are also collaborating on the development of silicon photonics technology.
2. Legend Biotech Corp. (NASDAQ:LEGN)
Legend Biotech snapped a four-day losing streak on Tuesday, jumping 42.22 percent to close at $36.28 apiece following the strong first phase results of its cancer treatment candidate, which saw as much as a 100 percent response rate in enrolled patients.
In an updated report, Legend Biotech Corp. (NASDAQ:LEGN) said that all six patients enrolled in the study to test the efficacy of LB2501 in patients with relapsed/refractory B-cell non-Hodgkin lymphoma fully responded to the higher dose level of the treatment, while five achieved a complete response, which means that no detectable signs of cancer remained.
LB2501 is designed to infuse CAR-T cells directly into the patient’s body via a single IV. It is expected to treat faster and be less expensive than the traditional CAR-T therapies, which require a patient’s cells to be collected first and engineered in laboratories and infused back weeks later.
Legend Biotech Corp. (NASDAQ:LEGN) also said that the therapy candidate showed no serious adverse effects or deaths.
The company is scheduled to present additional data at the European Hematology Association (EHA) 2026 Congress in Stockholm, Sweden, on June 11 to 14.
“The upcoming presentation of Phase 1 LB2501 data in patients with B-cell malignancies represents an important step in advancing in vivo CAR-T approaches,” Legend Biotech Corp. (NASDAQ:LEGN) CEO Ying Huang said.
“By generating CAR-T cells directly within the patient, this approach has the potential to simplify treatment delivery and expand access for patients who may not be able to receive traditional CAR-T cell therapies. LB2501 is built on the TaVec platform, which is a proprietary lentiviral vector engineered to enhance T-cell specificity, transduction efficiency, and safety, while restricting transduction of non-T cells.”
1. Victoria’s Secret & Co. (NYSE:VSXY)
Victoria’s Secret bounced back on Tuesday to hit a new all-time high, after posting stellar earnings in the first quarter of the year and raising its growth outlook for the full-year period.
In intra-day trading, the stock jumped to its highest price of $81.25 before trimming gains to finish the session just up by 47.07 percent at $79.76 apiece.
In its earnings call on the same day, Victoria’s Secret & Co. (NYSE:VSXY) said that it swung to an attributable net income of $47.69 million during the period from a $1.6 million attributable net loss in the same quarter last year.
Net sales amounted to $1.56 billion, marking a 15.3 percent jump from the $1.353 billion year-on-year, and exceeding its earlier guidance of $1.49 billion to $1.525 billion.
Total comparable sales also increased by 13 percent.
“Our first quarter results reflect disciplined execution across the business, including broad-based gross margin improvement, driven by higher regular-price selling, reduced promotions, and leveraging our buying and occupancy expenses, all despite tariff headwinds,” said Victoria’s Secret & Co. (NYSE:VSXY) Chief Financial and Operating Officer Scott Sekella.
“Given our strong first quarter performance and continued momentum in the business, we are raising our fiscal 2026 outlook and remain confident in our ability to drive profitable growth,” he added.
Following the results, Victoria’s Secret & Co. (NYSE:VSXY) raised its net sales growth outlook for the full-year period to a range of $7.03 billion to $7.13 billion, versus $6.85 billion to $6.95 billion previously. The higher figures would imply a 7 to 8.8 percent jump from the $6.553 billion last year.
For the second quarter alone, net sales are expected to be $1.59 billion to $1.615 billion, or growth of 9 to 10.6 percent as compared with $1.459 billion in the same period last year.
While we acknowledge the potential of VSXY to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than VSXY and that has 100x upside potential, check out our report about the cheapest AI stock.
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