Here are some of the market's biggest gainers for Tuesday:
1. PepsiCo | Increase 2.2%
PepsiCo (PEP) climbed after the food and beverage giant posted stronger-than-expected second-quarter earnings and boosted its full-year profit forecast. Drinks revenue surged thanks in part to the reopening of sports and entertainment venues as the coronavirus pandemic eased.
2. Nokia | Increase 9.5%
Shares of Nokia (NOK) rose after the storied Finnish telecommunications company raised its earnings estimates. The company on July 29 plans to provide full details of its revised full-year 2021 guidance, along with second-quarter earnings.
3. Middleby | Increase 1.3%
Middleby (MIDD) shares rose after the kitchen and restaurant equipment producer said it expected its $2.9 billion agreement to acquire Welbilt (WBT) will terminate. Welbilt said that Italian rival Ali Group's revised takeover bid was superior to its agreement with Middleby and that it planned to move ahead with the offer.
4. Celldex Therapeutics | Increase 9.7%
Shares of Celldex Therapeutics (CLDX) continued their climb after the biotech reported progress in a Phase 1b clinical trial of a skin-condition drug and H.C. Wainwright boosted its price target on the shares. The trial is for CDX-0159, which treats the two most suffered forms of chronic inducible urticaria, an inflammatory skin ailment.
5. Sohu.com | Increase 28%
Sohu.com (SOHU) climbed after Chinese regulators approved Tencent Holdings' (TCEHY) acquisition of the Beijing internet company's subsidiary Sogou (SOGO) . Separately, Reuters reported that antitrust regulators in China are ready to order Tencent's music streaming arm to give up exclusive rights to music labels, which it has used to compete with smaller rivals,