U.S. stocks were slightly higher, with the Nasdaq Composite gaining around 0.1% on Tuesday.
Shares of Semtech Corporation (NASDAQ:SMTC) rose sharply during Tuesday's session as the company reported better-than-expected second-quarter financial results after the market closed on Monday.
Semtech reported second-quarter revenue of $257 million, beating analyst estimates of $256.09 million, according to Benzinga Pro. The semiconductor, IoT systems and cloud connectivity service provider reported second-quarter adjusted earnings of 41 cents per share, beating estimates of 40 cents per share.
Semtech shares jumped 11.5% to $56.89 on Tuesday.
Here are some other big stocks recording gains in today’s session.
- EchoStar Corporation (NASDAQ:SATS) shares jumped 80% to $53.78 after the company announced it will sell 3.45 GHz and 600 MHz spectrum licenses for $23 billion.
- Domo, Inc. (NASDAQ:DOMO) jumped 23.7% to $17.10 after TD Cowen upgraded the stock from Hold to Buy and raised its price target from $13 to $21.
- Lightwave Logic, Inc. (NASDAQ:LWLG) gained 18% to $2.9787.
- Energy Fuels Inc. (NYSE:UUUU) shares rose 15% to $12.58. Energy Fuels and Vulcan Elements signed a Memorandum of Understanding to collaborate on creating a resilient domestic supply chain for rare earth magnets independent of China.
- Ranpak Holdings Corp. (NYSE:PACK) gained 13.6% to $5.49 after inking a multi-year deal with Walmart to deploy autofill AI-powered packaging across next-gen fulfillment centers.
- Opendoor Technologies Inc. (NASDAQ:OPEN) shares rose 11.9% to $5.08.
- Genesco Inc. (NYSE:GCO) jumped 11.7% to $31.81. Seaport Global analyst Mitch Kummetz upgraded Genesco from Neutral to Buy and announced a $38 price target.
- Centrus Energy Corp. (NYSE:LEU) surged 11.3% to $206.15 after the company announced it signed an MOU with KHNP and POSCO International to advance potential investment in American Uranium enrichment capacity.
- SuperX AI Technology Limited (NASDAQ:SUPX) gained 10.3% to $64.29.
- NIO Inc. (NYSE:NIO) shares rose 10.3% to $6.73 after JP Morgan upgraded the stock from Neutral to Overweight and raised its price target on the stock from $4.8 to $8.
- Oklo Inc. (NYSE:OKLO) gained 9.6% to $78.03 after B of A Securities initiated coverage on the stock with a Buy rating and announced a price target of $92.
- HEICO Corporation (NYSE:HEI) shares rose 7.1% to $327.10 following better-than-expected third-quarter results.
- V.F. Corporation (NYSE:VFC) gained 6.6% to $14.59. Baird analyst Jonathan Komp upgraded VF from Neutral to Outperform and raised the price target from $14 to $20.
- The Bank of Nova Scotia (NYSE:BNS) rose 6% to $60.74 following strong quarterly results.
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