The S&P 500 and the Nasdaq set intraday and closing highs, boosted by a tech rally and strong U.S. housing data.
U.S. housing starts jumped 22.6% in July from the previous month to a seasonally adjusted annual rate of 1.496 million amid record low interest rates. The gains were the most since October 2016. Permits rose 18.8% from June.
Here are some of the top gainers Tuesday:
1. OneSmart International Education | Percentage Increase Over 30%
OneSmart International Education Group (ONE) - Get Report was higher after the Shanghai education and training services company beat Wall Street's third-quarter revenue estimates. OneSmart forecast fourth-quarter revenue to grow 21% to 34% from the third quarter and margins to return to the pre-coronavirus level over the next few quarters.
2. Bloom Energy | Percentage Increase Over 19%
Bloom Energy (BE) - Get Report climbed after Morgan Stanley analyst Stephen Byrd said the alternative-energy company had exceeded both his expectations and Wall Street's. Byrd, who has an overweight rating on the stock with a $20 price target, said the company “managed to achieve significant installation growth while addressing covid-related delays," according to TipRanks.
3. Gerdau | Percentage Increase Over 9%
Gerdau (GGB) - Get Report American depositary receipts advanced after the Brazilian steelmaker recently beat Wall Street's revenue expectations due to resilient construction markets in Brazil and the U.S. The company recently raised steel prices in July by up to 8% despite the economic slowdown brought on during the coronavirus crisis
4. Groupon | Percentage Increase 21%
Groupon (GRPN) - Get Report, which operates online local commerce marketplaces, has rallied lately. It recently reported revenue of $396 million, down 26% from a year ago, but almost twice the roughly $200 million Wall Street expected.
5. RealReal | Percentage Increase Over 6%
RealReal (REAL) - Get Report, which operates an online marketplace for consigned luxury goods, was higher after recently saying that gross merchandise value trends have improved significantly. In addition, the company conducted about 25,000 virtual appointments in the second quarter.