U.S. stocks were higher, with the Dow Jones index gaining more than 100 points on Tuesday.
Shares of Microchip Technology Inc (NASDAQ:MCHP) rose sharply during Tuesday’s session after the semiconductor company disclosed that it now expects fiscal third-quarter revenue to come in above prior expectations.
On Monday, Microchip said it now expects third-quarter fiscal 2026 net sales of approximately $1.185 billion for the period ending December 31, 2025. The revised outlook exceeds the company’s original guidance range of $1.109 billion to $1.149 billion issued on November 6, 2025, as well as a December 2 update that pointed to the high end of that range.
Microchip Technology shares jumped 8.1% to $72.47 on Tuesday.
Here are some other big stocks recording gains in today’s session.
- Alumis Inc (NASDAQ:ALMS) shares jumped 129% to $19.04 after the company said topline results from its Phase 3 ONWARD1 and ONWARD2 trials of envudeucitinib in moderate-to-severe plaque psoriasis met all primary and secondary endpoints.
- Aeva Technologies Inc (NASDAQ:AEVA) gained 31.5% to $17.21 after the company disclosed that its Frequency Modulated Continuous Wave 4D LiDAR technology has been selected for the NVIDIA DRIVE Hyperion autonomous vehicle reference platform.
- Terrestrial Energy Inc (NASDAQ:IMSR) rose 26.9% to $8.87 after the company executed an Other Transaction Authority agreement with the U.S. Department of Energy under the Advanced Reactor Pilot Program for Project TETRA.
- Bright Minds Biosciences Inc (NASDAQ:DRUG) gained 25% to $100.00 after the company announced topline results from its Phase 2 BREAKTHROUGH clinical trial evaluating BMB-101 met its primary efficacy endpoints.
- OneStream Inc (NASDAQ:OS) gained 25.1% to $23.00 after Bloomberg reported that buyout firm Hg is nearing a deal to take OneStream private.
- SanDisk Corp (NASDAQ:SNDK) rose 19.5% to $327.51.
- Beam Therapeutics Inc (NASDAQ:BEAM) rose 12.5% to $30.20.
- Valneva SE (NASDAQ:VALN) gained 11.8% to $9.90..
- Albemarle Corp (NYSE:ALB) rose 11.3% to $162.72.
- Oculis Holding AG (NASDAQ:OCS) gained 10.7% to $21.86 after the FDA granted the company’s neuroprotective candidate Privosegtor breakthrough therapy designation.
- Wolfspeed Inc (NYSE:WOLF) gained 9% to $19.59.
- Allegro MicroSystems Inc (NASDAQ:ALGM) rose 8.6% to $30.92.
- Trinity Industries Inc (NYSE:TRN) gained 8.3% to $28.80 after the company announced it raised its FY25 EPS guidance above estimates.
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