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

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

Shares of Yum China Holdings, Inc. 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. 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. 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 SERV climbed 24.9% to $17.01 after falling around 7% on Monday.
• TG Therapeutics, Inc. 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. 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. 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. 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 CBT rose 15.2% to $100.21 following upbeat quarterly results.
• Kenvue Inc. KVUE climbed 13.7% to $20.69 after the company reported better-than-expected quarterly financial results.
• Vornado Realty Trust VNO gained 13.2% to $30.85 following better-than-expected quarterly earnings.
• New Oriental Education & Technology Group Inc. EDU gained 11.6% to $72.87  after the company upsized its share repurchase program.
• BellRing Brands, Inc. BRBR gained 11.2% to $54.85 following upbeat quarterly earnings.
• TransMedics Group, Inc. TMDX gained 9.3% to $162.20.
• BioMarin Pharmaceutical Inc. 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. 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 MTRN gained 9% to $112.74 following strong quarterly earnings.
• Planet Fitness, Inc. 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 TAP rose 6.7% to $54.58  after the company reported better-than-expected quarterly financial results.
• Apollo Global Management, Inc. APO gained 5.9% to $105.02 after B of A Securities upgraded the stock from Neutral to Buy.

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