Yum China Posts Upbeat Earnings, Joins Clear Secure, TG Therapeutics, Bioventus And Other Big Stocks Moving Higher On Tuesday

Author: Avi Kapoor | August 06, 2024 11:47am

U.S. stocks were higher, with the Dow Jones index gaining over 300 points on Tuesday.

Shares of Yum China Holdings, Inc. (NYSE:YUMC) rose sharply during Tuesday's session after the company reported better-than-expected second-quarter earnings and announced a CFO transition.

Core operating profit grew 12% Y/Y to $275 million, with a margin of 10.0% vs. 9.3% a year ago quarter. EPS of 55 cents surpassed the street view of 47 cents.

Yum China shares surged 11.6% to $33.26 on Tuesday.

Here are some other big stocks recording gains in today's session.

Lumen Technologies, Inc. (NYSE:LUMN) shares surged 90% to $4.92 after the company announced it secured $5 billion in new business from companies seeking to secure their fiber capacity.
Clear Secure, Inc. (NYSE:YOU) gained 26.4% to $24.61 after the company reported better-than-expected second-quarter financial results and issued third-quarter revenue guidance above estimates.
Serve Robotics Inc (NASDAQ:SERV) climbed 24.9% to $17.01 after falling around 7% on Monday.
TG Therapeutics, Inc. (NASDAQ:TGTX) gained 21.2% to $20.85 after the company reported better-than-expected quarterly financial results and raised its FY24 Briumvi U.S. net product revenue. The company entered into a term loan facility with Blue Owl Capital.
Castle Biosciences, Inc. (NASDAQ:CSTL) rose 17.8% to $25.76 after the company reported better-than-expected second-quarter financial results and increased its FY24 revenue guidance above estimates.
Bioventus Inc. (NASDAQ:BVS) jumped 18.5% to $7.42 after the company reported better-than-expected second-quarter financial results and raised its FY24 guidance above estimates.
Vimeo, Inc. (NASDAQ:VMEO) gained 17.2% to $4.18 after the company reported better-than-expected quarterly financial results and raised its FY24 revenue guidance.
Cabot Corporation (NYSE:CBT) rose 15.2% to $100.21 following upbeat quarterly results.
Kenvue Inc. (NYSE:KVUE) climbed 13.7% to $20.69 after the company reported better-than-expected quarterly financial results.
Vornado Realty Trust (NYSE:VNO) gained 13.2% to $30.85 following better-than-expected quarterly earnings.
New Oriental Education & Technology Group Inc. (NYSE:EDU) gained 11.6% to $72.87 after the company upsized its share repurchase program.
BellRing Brands, Inc. (NYSE:BRBR) gained 11.2% to $54.85 following upbeat quarterly earnings.
TransMedics Group, Inc. (NASDAQ:TMDX) gained 9.3% to $162.20.
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) rose 9.3% to $87.99 after the company reported better-than-expected quarterly financial results. Also, Evercore ISI Group maintained an Outperform rating on the stock and raised its price target from $113 to $115.
Royal Caribbean Cruises Ltd. (NYSE:RCL) rose 9.1% to $152.55. The company announced that it entered into exchange agreements with a limited number of noteholders of its 6% Convertible Senior Notes due 2025
Materion Corporation (NYSE:MTRN) gained 9% to $112.74 following strong quarterly earnings.
Planet Fitness, Inc. (NYSE:PLNT) rose 9% to $78.53 after the company reported better-than-expected second-quarter financial results and reiterated 2024 outlook.
Molson Coors Beverage Company (NYSE:TAP) rose 6.7% to $54.58 after the company reported better-than-expected quarterly financial results.
Apollo Global Management, Inc. (NYSE:APO) gained 5.9% to $105.02 after B of A Securities upgraded the stock from Neutral to Buy.