Ten stocks jumped higher on Tuesday, as investor sentiment was generally buoyed by a reported progress in the ongoing US-China trade talks.
The firms outpaced the lackluster performance of Wall Street’s main indices. The tech-heavy Nasdaq rallied by 0.63 percent, the S&P 500 rose by 0.55 percent, and the Dow Jones was up by 0.25 percent.
In this article, we highlight the names of the 10 top-performing companies and detail the reasons behind their gains.
To come up with the list, we considered only the stocks with at least $2 billion in market capitalization and over 5 million in trading volume.
10. Quantum Computing Inc. (NASDAQ:QUBT)
Quantum Computing saw its share prices rise by 5.51 percent on Tuesday to close at $15.13 apiece, as investors took path from the optimistic outlook from an investment firm.
Since Ascendiant Capital Markets maintained its “buy” recommendation on Quantum Computing Inc.’s (NASDAQ:QUBT) stock on Friday, investors resumed buying positions, extending the stock’s rally to a third straight day today.
The adjustment was further supported by a higher target of $22 versus the $14 previously. The new target represented a 45-percent upside from its latest closing price.
In the first quarter of the year, Quantum Computing Inc. (NASDAQ:QUBT) swung to a net income attributable to shareholders of $16.98 million from a $6.4 million net loss in the same period last year, primarily driven by a $23.6 million non-cash gain on the mark-to-market valuation of the company’s warrant liability as a result of its merger with QPhoton in June 2022.
Revenues, on the other hand, rose by 44 percent to $39,000 from $27,000 in the same period last year.
9. Tesla, Inc. (NASDAQ:TSLA)
Tesla grew its share prices for a third straight day on Tuesday, jumping 5.67 percent to finish at $326.09 apiece as investors gobbled up shares ahead of the expected launch of its robotaxis this month.
Investor sentiment was particularly spurred by a spotted Tesla robotaxi plying the road in Austin, Texas, just this week. The video sparked optimism that Tesla, Inc. (NASDAQ:TSLA) may be ramping up its preparations for its official rollout.
In a video shared on various social media sites, a Tesla Model Y can be seen operating completely driverless and confidently making a turn.
Additionally, the state of Texas has hinted at the company’s robotaxi launch on its website on Monday, listing the company as an autonomous vehicle operator on Austin’s official Department of Motor Vehicles (DMV).
Other AV operators listed on the site are Waymo and Zoox, among others.
Billionaire Elon Musk said earlier that the company has already been preparing for the official rollout since last month.
8. Viking Therapeutics, Inc. (NASDAQ:VKTX)
Viking Therapeutics grew its share prices by 5.69 percent on Tuesday to finish at $29.14 apiece as investors loaded up positions while waiting for fresh catalysts from the series of global conferences that it is participating in this month.
At present, investors are expecting updates and developments from the three-day 46th Annual Goldman Sachs Global Healthcare Conference in Florida on June 9 to 11.
It is also set to participate in a one-on-one meeting at the Scotiabank Third Annual Healthcare Canadian Investor Day on June 17.
In April this year, Viking Therapeutics, Inc. (NASDAQ:VKTX) soared following news that its competitor, Pfizer Inc., discontinued the development of its oral obesity medication, danuglipron, amid safety concerns.
According to PFE, the decision came after a patient experienced a potential liver injury linked to the drug.
The scrapped plans, however, spelled good news for Viking Therapeutics, Inc. (NASDAQ:VKTX), which is similarly underway with the development of an oral weight loss candidate called VK2735, with Pfizer Inc. now out of the competition.
7. Caesars Entertainment, Inc. (NASDAQ:CZR)
Caesars Entertainment rallied by 5.7 percent on Tuesday to close at $28.26 apiece as investors cheered bullish outlooks from two investment companies.
In a market note, TD Cowen reaffirmed its “buy” recommendation and $40 price target on Caesars Entertainment, Inc.’s (NASDAQ:CZR) stock, underscoring the company’s robust cash flow and digital potential. The figure represented a 41.5 percent upside from its latest closing price.
Meanwhile, JMP Securities also maintained its “market outperform” rating on Caesars Entertainment, Inc. (NASDAQ:CZR) at a price target of $45, representing a 59-percent premium of its closing price on Tuesday.
Given the continued softening in summer bookings, JMP Securities was confident about Caesars Entertainment, Inc.’s (NASDAQ:CZR) pricing strategy for non-gaming business segments, which has already been successful in the past.
Additionally, the convention and group outlook, which has seen a year-to-date increase of 2 percent, is expected to serve as a medium-term catalyst for the company, potentially reaching record levels by 2026.
Caesars Entertainment, Inc. (NASDAQ:CZR) is a hotel and gambling operator that operates more than 50 properties.
6. NIO Inc. (NYSE:NIO)
NIO Inc. saw its share prices grow by 5.83 percent on Tuesday to finish at $3.81 apiece as investors cheered the strong demand for its products, supported by higher vehicle deliveries last month.
In a statement, NIO Inc. (NYSE:NIO) said it delivered 23,231 vehicles in May, representing a 13.1 percent increase from the 20,544 in the same month last year.
The deliveries consisted of 13,270 vehicles from NIO; 6,281 vehicles from ONVO; and 3,680 vehicles from Firefly.
The number brought its total deliveries figure to 760,789, with the large chunk—710,655—owed to the NIO brand, followed by ONVO with 46,223, and Firefly with 3,911.
In the same month, NIO Inc. (NYSE:NIO) opened one NIO House and deployed 50 Power Swap Stations and 47 charging stations globally.
As of May 31, NIO had already built 184 NIO Houses and 3,404 Power Swap stations worldwide.
Its total portfolio also includes 4,607 charging stations and 26,441 chargers, among others.
5. Sunrun Inc. (NASDAQ:RUN)
Sunrun grew its share price by 7.13 percent on Tuesday to close at $8.86 apiece, as investors loaded up portfolios while waiting for more concrete developments from the US-China trade negotiations.
The company’s stock has been trading sideways over the past few days amid the lack of fresh company-specific catalysts, but cautiously loaded up portfolios amid the US and China’s efforts in negotiating tariff policies.
Sunrun Inc. (NASDAQ:RUN), alongside its counterparts, have been on the spotlight over the past few weeks as investors continued to digest the impact of the “One Big, Beautiful Bill Act” into its business, with tax perks for clean energy expected to end in December this year and effectively raise the prices of its products.
In an interview with Newsweek last week, Sunrun Inc. (NASDAQ:RUN) CEO Mary Powell warned that the new bill will rip the rug out from under 5 million plus customers.
“We immediately went to work on how we can ensure our message about the importance of what we do for Americans on energy independence and advancing the agenda around energy dominance is heard,” she noted.
4. Transocean Ltd. (NYSE:RIG)
Transocean Ltd. grew its share prices by 7.32 percent on Tuesday to close at $3.08 apiece as investors cheered worth $100 million of backlogs after its client, Equinor ASA, exercised the option to extend its drilling operations at the Spitsbergen rig in Norway.
In a statement, Transocean Ltd. (NYSE:RIG) said Equinor exercised a two-well option for the Transocean Spitsbergen in Norway. The program is expected to kick off in the first quarter of the year in direct continuation of the rig’s current program.
The additional work followed their original there-well program on the Norwegian Continental Shelf (NCS), which was procured in 2024.
The Transocean Spitsbergen was built in 2010 as a sixth-generation dual-derrick winterized semi-submersible rig, which is capable of drilling high-pressure and high-temperature formations.
In the first quarter of the year, Transocean Ltd. (NYSE:RIG) swung to a net loss of $79 million from a net income of $98 million in the same period a year earlier, despite contract drilling revenues improving by 18.7 percent to $906 million from $763 million year-on-year.
3. Intel Corporation (NASDAQ:INTC)
Intel Corp. extended its winning streak to a third straight day on Tuesday, adding 7.81 percent to close at $22.08 apiece as investors turned optimistic about the company’s turnaround plan.
Its new CEO, Lip-Bu Tan, has been working on turning Intel Corporation (NASDAQ:INTC) to profitability, with the company said to have stopped accepting new projects unless they can demonstrate a projected gross margin of at least 50 percent.
Under his watch, any product projected to generate less than 50 percent gross margin will not move forward or receive engineering resources.
Additionally, Tan is reportedly reviewing—and potentially cancelling or restructuring unprofitable deals with other companies.
Since heading Intel Corporation (NASDAQ:INTC) earlier this year, Tan immediately restructured the company’s workforce and leadership, continuing the layoff of 15,000 employees.
Intel Corporation (NASDAQ:INTC) was reportedly looking to cut its workforce by 20 percent to reduce bureaucracy and refocus on engineering.
In the first quarter of the year, Intel Corporation (NASDAQ:INTC) widened its attributable net loss by 115 percent to $821 million from the $381 million in the same period last year. Net revenues were flat at $12.7 billion.
2. Venture Global, Inc. (NYSE:VG)
Venture Global rallied by 8.37 percent on Tuesday to end at $17.04 apiece as investors resumed bargain-hunting following the commencement of its $28 billion liquefied natural gas (LNG) facility in Louisiana.
Called the CP2 LNG, the facility will sit on a 1,150-acre site in Cameron Parish and is expected to be able to export at least 20 million tons of LNG per annum.
According to the company, the new facility is also expected to generate 10,500 jobs, of which 7,500 will start during the construction, and 3,000 upon commercial operations.
It is also expected to pay more than $4 billion in local property taxes once the LNG comes into full swing.
Venture Global, Inc. (NYSE:VG) said it targets to kick off commercial operations in 2027.
The facility is expected to make Venture Global, Inc. (NYSE:VG) the largest LNG exporter in the US, and the second largest in the world.
1. Insmed Incorporated (NASDAQ:INSM)
Insmed Inc. soared by 28.65 percent on Tuesday to close at $90.93 apiece following positive results from the phase 2 trial of its pulmonary arterial hypertension (PAH) treatment, treprostinil palmitil inhalation powder (TPIP).
Insmed Incorporated (NASDAQ:INSM) jumped as high as 30 percent at intraday trading following the announcement.
According to the company, the phase 2 trial achieved its primary and secondary goals for the treatment of reducing blood pressure in the lungs and improving exercise capacity in patients.
Following the results, Insmed Incorporated (NASDAQ:INSM) said it would engage with the Food and Drug Administration (FDA) regarding the phase 3 trial design.
The company said it plans to initiate a Phase 3 trial in patients with pulmonary hypertension associated with interstitial lung disease (PH-ILD) before the end of the year, to be followed by a Phase 3 trial in patients in early 2026.
“These unprecedented Phase 2b results unequivocally demonstrate TPIP’s potential to be a highly effective and well-tolerated once-daily prostanoid therapy for the treatment of PAH across disease severities and background treatment regimens. We look forward to expanding upon these results in the upcoming Phase 3 program,” the company said.
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