These 10 Firms Just Beat the Market Today

Ten companies boasted whopping gains on Tuesday despite a wider market pessimism, as a flurry of corporate developments, including impressive earnings and bullish outlooks, sparked buying appetite.

In contrast, Wall Street’s main indices all finished in the red territory. The Dow Jones was down by 0.27 percent, the S&P 500 dropped 0.39 percent, and the tech-heavy Nasdaq declined 0.38 percent.

In this article, we named the 10 best-performing stocks during the trading session and detailed the reasons behind their gains. To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million in trading volume.

10. Pony AI Inc. (NASDAQ: PONY)

Chinese firm Pony AI saw its share prices rise by 5.74 percent on Tuesday to close at $17.88 apiece as investors cheered its strong revenue performance in the first quarter of the year.

In its earnings release, Pony AI Inc. (NASDAQ: PONY) said revenues grew by 12 percent to $14 million from $12.5 million registered in the same period last year, thanks to a 200-percent jump in its Robotaxi services.

However, net loss remained higher by 79 percent to $37.4 million as compared with $20.8 million in the same period a year earlier, due to investments in the mass production of Generation 7 vehicles, coupled with one-time expenses related to its initial public offering that was only settled during the quarter, as well as higher employee compensation.

In recent news, Pony AI Inc. (NASDAQ: PONY) partnered with ride-hailing giant Uber Technologies Inc. (NYSE: UBER) to expand and offer its robotaxis in the Middle East through the Uber app.

The two companies also committed to deepening their partnership through expansion into other global markets.

9. Moderna, Inc. (NASDAQ:MRNA)

Moderna extended its winning streak for a third straight day on Tuesday, adding 6.06 percent to close at $27.99 apiece, following the Trump administration’s issuance of new guidelines for COVID-19 shots.

According to the Food and Drug Administration (FDA), they would continue to use a streamlined approach to make COVID-19 boosters available to adults aged 65 and older, as well as children and adults with at least one high-risk health problem.

Despite the limited use, the news provided a boost to vaccine makers, including Moderna, Inc. (NASDAQ:MRNA), which was among the companies that found success with its COVID-19 shots, as it meant that it could continue to sell vaccines to high-risk groups.

In other news, Moderna, Inc. (NASDAQ:MRNA) narrowed its net loss in the first quarter of the year by 17.4 percent to $971 million from the $1.17 billion in the same period last year.

Revenues declined by 35 percent to $108 million from $167 million in the same period last year due to lower vaccination rates, coupled with the continued normalization of COVID into a seasonal commercial market.

Looking ahead, Moderna, Inc. (NASDAQ:MRNA) said that it is targeting to book revenues between $1.5 billion and $2.5 billion.