5 Stocks With Powerful Gains

2. RXO Inc. (NYSE:RXO)

RXO Inc. (NYSE:RXO) rallied for a third straight session on Tuesday, climbing 10.63 percent to close at $21.13 apiece, as investors took heart from its optimistic outlook for truckload profits, thanks to better-than-expected May results so far.

According to the company, truckload gross profit per load for May is now expected to end flat from April levels, better than the decline it projected earlier this year.

In addition, the company announced that it was able to outperform the market, with April full-truckload volume declining by only 2 percent, as compared with the industry’s 4 percent overall dip, as measured by the Cass Freight Index.

“Last week, market conditions tightened even further, exacerbated by CVSA International Roadcheck. RXO stayed close to our customers and won significant spot opportunities, helping to more than offset the squeeze on our contractual book of business,” RXO Inc. (NYSE:RXO) Chief Strategy Officer Jared Weisfeld said.

In other news, RXO Inc. (NYSE:RXO) reported a 16 percent wider net loss in the first quarter of the year, at $36 million versus $31 million in the same period last year. Revenues finished flat at $1.4 billion.