Semtech Posts Upbeat Earnings, Joins Nio, Heico, Bank of Nova Scotia And Other Big Stocks Moving Higher On Tuesday

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 fell 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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