10 Stocks on a Hot Streak

Ten stocks stood firmer on Tuesday amid a mixed broader market as investor sentiment was bolstered by the looming end of a government shutdown and more corporate earnings results.

Among Wall Street’s main indices, only the Dow Jones and the S&P 500 finished in the green, up 1.18 percent and 0.21 percent, respectively. The tech-heavy Nasdaq declined by 0.25 percent.

In this article, we focus on the 10 big names that outperformed on Tuesday alongside the reasons behind their gains. Of the 10 in the list, three companies surged to new record highs.

To come up with the list, we considered only the stocks with a $2 billion market capitalization and more than 5 million shares in trading volume.

The New York Stock Exchange building. Photo by Дмитрий Трепольский on Pexels

10. Sunrun Inc. (NASDAQ:SUN)

Sunrun rallied for a second day on Tuesday, jumping 7.63 percent to close at $19.75 apiece as investors took path from an investment firm’s bullish comment and recommendation for its stock.

In a market note on Monday, Guggenheim Securities upgraded Sunrun Inc. (NASDAQ:SUN) to “buy” from “neutral,” with a $27 price target, marking a 36.7 percent upside potential from its latest closing price.

The revision was based on solid growth prospects for next year, alongside the stock’s recent weakness, which has provided an attractive entry point for investors.

Additionally, Guggenheim believed that Sunrun Inc. (NASDAQ:SUN) has effectively managed its business in a profoundly challenged industry, having swung to profitability in the third quarter of the year.

During the period, Sunrun Inc. (NASDAQ:SUN) incurred a net income attributable to shareholders of $16.5 million, reversing a $83.8 million attributable net loss in the same period last year.

Total revenues increased by 34.8 percent to $724 million from $537 million year-on-year, on the back of higher revenues from customer agreements and incentives, as well as solar energy systems and product sales.