Stocks closed at record levels Tuesday as earnings continue to power market performance in the face of surging energy prices and inflation prospects.
Here are some of the top gainers Tuesday:
1. United Parcel Service | Increase 7%
United Parcel Service (UPS) - Get United Parcel Service, Inc. Class B Report shares climbed after the package-delivery company posted better-than-expected third-quarter earnings. The report came amid continuing demand for e-commerce-related package deliveries, which continue to be a driving force behind the economy’s rebound.
2. Hasbro | Increase 3.2%
Shares of Hasbro (HAS) - Get Hasbro, Inc. (HAS) Report rose after the toymaker reported stronger-than-expected third-quarter earnings. Its recent focus on digital gaming and entertainment continues to add to the top and bottom lines. Revenue totaled $1.97 billion, up 11% from $1.78 billion a year earlier, though shy of the $2 billion tally expected by analysts polled by FactSet.
3. DraftKings | Increase 4.1%
DraftKings (DKNG) - Get DraftKings Inc. (DKNG) Report shares surged after the online sports betting company scrapped its $22.4 billion takeover bid for British bookmaker Entain. DraftKings had until the close of London trading on Nov. 19 to formalize its bid for Entain or walk away from the company for at least six months. Entain operates the Coral and Ladbrokes betting shop and has a U.S. joint venture with MGM Resorts International (MGM) - Get MGM Resorts International (MGM) Report.
4. Redbox Entertainment | Increase 33%
Shares of Redbox Entertainment RDBX leaped. The movie and entertainment rental company completed its SPAC merger with Seaport Global Acquisition and began trading Monday on Nasdaq.
5. Avid Bioservices | Increase 14%
Avio Bioservices (CDMO) - Get Avid Bioservices, Inc. Report shares advanced after the biotech said it would be added to the S&P SmallCap 600 Index, effective prior to the open on Friday. The company will replace Cadence Bancorp. (CADE) - Get Cadence Bancorporation Class A Report, which is being acquired by BancorpSouth Bank (BXS) - Get BancorpSouth Bank Report.