US Stock Markets Gainers Losers: Take a look at biggest stock movers on Tuesday
US Stock Markets Fall
Futures for US stock indices showed declines on Tuesday morning. The Dow futures were down by 110 points. The S&P 500 futures dropped by 15 points, and Nasdaq futures decreased by 25 points. These moves followed a sharp fall on Monday, when the Dow Jones had dropped over 400 points.
President Donald Trump announced tariffs on imports from 14 countries including Japan, South Korea, Myanmar and Bangladesh. The White House confirmed that more letters would be issued in the coming days. The official imposition of tariffs has been delayed until August 1 through a presidential declaration.
The US Dollar index rose after the announcements, while crude oil and gold prices also rebounded slightly.
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Market Gainers
Wolfspeed
Wolfspeed (NYSE: WOLF) shares jumped 17% on Tuesday. This followed Monday's 96% surge. The chipmaker announced the appointment of Gregor van Issum as its new Chief Financial Officer. He will take over the role from interim CFO Kevin Speirits starting September 1.
Van Issum brings experience from companies like ams-OSRAM and NXP. The leadership change is part of Wolfspeed's effort to strengthen its position in the silicon carbide market for electric vehicles and AI data centers.
Enovix
Enovix (NASDAQ: ENVX) shares added 2% to gains from the previous day. The battery technology company issued positive guidance for the second quarter. It now expects an adjusted loss of $0.15 per share on $7.5 million revenue, better than market estimates.
Enovix also forecasted a $21.4 million adjusted EBITDA loss, which was an improvement from earlier predictions. Northland Securities reaffirmed its Outperform rating with a $25 price target. The company also launched its new AI-1 battery for next-generation smartphones.
Humacyte
Humacyte (HUMA) shares rose by 14%. The company received Electronic Catalog (ECAT) approval for its bioengineered tissue product, Symvess, from the US Defense Logistics Agency. This designation allows Department of Defense and VA facilities to access the product for treating military personnel and veterans.
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Market Losers
Ciena
Ciena (NYSE: CIEN) dropped 4% after Morgan Stanley downgraded the stock from Equal-weight to Underweight. Analyst Meta Marshall cited limited earnings potential in the near term and weak margin outlook.
The firm issued a price target of $70 for Ciena, indicating a possible 13% downside. The analyst expressed a preference for Coherent over Lumentum in the same sector.
Solar Stocks
Solar companies were among the biggest losers. Sunrun (RUN) fell 10%, First Solar (FSLR) dropped 4%, and Enphase (ENPH) declined 6%. These losses followed President Trump's executive order to eliminate green energy subsidies.
The order instructed the Treasury and Interior Departments to roll back tax benefits for wind and solar energy projects. It cited concerns related to energy security, reliability, and foreign dependency.
This policy is aligned with the 'One Big Beautiful Bill Act,' which focuses on strengthening domestic energy resources and removing market imbalances.
FAQs
What caused solar stocks to drop on Tuesday?
Solar stocks declined after President Trump signed an executive order to end subsidies and tax breaks for green energy projects, affecting investor sentiment and stock prices.
Why did
Wolfspeed stock rise
again on Tuesday?
Wolfspeed stock gained after naming a new CFO, following Monday's strong rally tied to leadership changes and growth in silicon carbide technology for EVs and AI.
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