On Tuesday, the United States stock markets demonstrated an upward trend, with major indices closing in positive territory. The Dow Jones Industrial Average surged by nearly 1%, while both the NASDAQ and S&P 500 also recorded respectable gains. This positive market sentiment drew significant attention to several individual stocks, as investors reacted to company-specific news and broader industry developments.
SanDisk Corporation's shares experienced a substantial increase, closing up over 27% and further climbing in after-hours trading. This rise was largely influenced by remarks from NVIDIA Corp.'s CEO, Jensen Huang, at CES 2026, who emphasized the crucial role of both memory and storage technologies. Additionally, recent options market activity indicated a strong bullish outlook for SanDisk, with a significant portion of trades reflecting positive expectations. Analysts, however, maintained varied price targets following the company's spin-off from Western Digital in 2025.
Alumis Inc. witnessed an extraordinary surge in its stock price, skyrocketing by over 95% and continuing its ascent in after-hours trading. This remarkable performance was driven by the release of highly favorable topline results from its Phase 3 ONWARD1 and ONWARD2 trials for envudeucitinib, a drug targeting moderate-to-severe plaque psoriasis. The drug successfully met all primary and secondary endpoints with significant statistical confidence, demonstrating rapid efficacy and superior performance compared to competitors like Amgen's Otezla. Alumis plans to submit a New Drug Application in the latter half of 2026.
Micron Technology Inc. also saw its stock advance by over 10%, with its shares nearing a 52-week high. Industry analysts, such as Wedbush's Dan Ives, suggested that many tech stocks within the Nasdaq-100 were returning to attractive valuations, presenting potential for significant upside. Micron's strong rally into the year-end indicated that investors were beginning to factor in an anticipated earnings rebound, fueled by the increasing demand for memory driven by artificial intelligence and an expected recovery in pricing.
Ventyx Biosciences Inc. experienced a considerable jump in its stock value, increasing by over 28% during regular trading hours and an impressive 62% in extended trading. This surge was sparked by reports from the Wall Street Journal suggesting that Eli Lilly was in advanced discussions to acquire Ventyx for over $1 billion. Such a deal would significantly expand Eli Lilly's pharmaceutical portfolio, incorporating Ventyx's pipeline of treatments for inflammatory bowel diseases like Crohn's disease and ulcerative colitis, as well as therapies for Parkinson's disease.
Western Digital Corporation's shares rose by nearly 17%, positioning it among the top performers in the memory chip sector. This upward movement was fueled by growing expectations of an increase in memory prices, largely due to a global supply shortage. This trend positively impacted other companies in the sector, including SanDisk and Seagate. The overall market rally also saw investors shifting towards cyclical and established blue-chip companies, contributing to Western Digital's strong performance.
Tuesday's trading session highlighted the dynamic nature of the stock market, where specific corporate advancements and broad economic trends can significantly influence investor interest and stock valuations. From clinical trial breakthroughs to potential acquisitions and industry-wide shifts in supply and demand, these factors collectively shaped the day's financial landscape, putting these five companies firmly in the spotlight for investors.