Stocks finished higher Tuesday, with the Nasdaq posting intraday and closing records, as Federal Reserve Chairman Jerome Powell told Congress the economy has shown "sustained improvement" while the recovery has accelerated inflation.
Here are some of the market's biggest gainers for Tuesday:
1. Sanderson Farms | Increase 10%
Sanderson Farms (SAFM) - Get Sanderson Farms, Inc. Report rose on a report the third-biggest poultry producer in the U.S. is exploring a potential sale as chicken prices rise. The Wall Street Journal reported that Sanderson hired Centerview Partners for advice after attracting the interest of potential buyers, including investment firm Continental Grain.
2. Splunk | Increase 11%
Splunk (SPLK) - Get Splunk Inc. Report shares jumped after the cloud computing company unveiled a $1 billion investment from private equity group Silver Lake Partners. Splunk also authorized the buyback of $1 billion of its common shares in the open market.
3. CrowdStrike | Increase 8%
CrowdStrike (CRWD) - Get CrowdStrike Holdings, Inc. Class A Report rose after Stifel analyst Brad Reback upgraded the cybersecurity company to buy from hold with a price target of $300, up from $240. Reback noted feedback received from 51 of the company's customers suggesting broader CrowdStrike deployments and a "more sustainable" annual recurring revenue trajectory, according to the Fly.
4. Tupperware Brands | Increase 10%
Tupperware Brands (TUP) - Get Tupperware Brands Corporation Report moved up after the home-goods icon authorized a stock buyback of as much as $250 million and prepaid $58 million of term-loan debt held by investment manager Angelo Gordon and banking giant JPMorgan Chase. The company said it was continuing to invest in its business amid increased confidence in its potential to generate cash flow.
5. L Brands | Increase 5%
Shares of L Brands (LB) - Get L Brands, Inc. (LB) Report climbed after the company said that Victoria's Secret & Co. will be the new name of the spun-off lingerie brand. L Brands is separating Bath & Body Works from Victoria's Secret to create two different businesses. The company last week named a majority-women’s board for Victoria’s Secret.