On Tuesday, U.S. equity markets demonstrated notable strength, with key indexes ending the day on a positive note. The Dow Jones Industrial Average advanced by over 480 points, settling at 49,462.08, an increase of 0.99%. Meanwhile, the NASDAQ Composite rose by 0.65% to finish at 23,547.17. The S&P 500 also moved higher, closing up by 0.62% to 6,944.82. Several individual stocks attracted considerable attention for their significant gains and corporate activities during this session.
SanDisk Corporation (NASDAQ:SNDK)
Shares of SanDisk Corporation surged by 27.56%, closing at $349.63. The trading range for the stock during the session spanned from an intraday low of $288.50 to a high of $352, aligning with its 52-week peak at $352 and well above its 52-week low at $27.90. SanDisk’s momentum extended into after-hours trading, where its price further appreciated by 2.3% to $357.75.
This notable uplift followed remarks from Jensen Huang, CEO of Nvidia Corp., during the CES 2026 event, where he underscored a growing industry requirement for both enhanced memory and storage solutions. The bullish sentiment was also echoed in the options market, with 110 trades detected, of which approximately 40% were executed with positive expectations.
Analyst forecasts exhibited a range of price targets post SanDisk’s 2025 spin-off from Western Digital, varying between $235 and $300, reflecting a mixed outlook within the market community.
Alumis Inc. (NASDAQ:ALMS)
Alumis experienced a dramatic share price increase of 95.31%, closing at $16.23. The intraday trading saw its stock reaching a peak of $22.30 and falling to a low of $15.27. These values are near the company’s 52-week high of $22.30, a substantial rise over its 52-week low of $2.76. After-hours trading showed continued strength, with shares gaining an additional 2.6%, closing at $16.65.
The surge followed the release of positive results from Alumis’s Phase 3 ONWARD1 and ONWARD2 clinical trials evaluating envudeucitinib for treating moderate-to-severe plaque psoriasis. The trials met all primary and secondary endpoints with significant statistical strength. Across both studies, 74% of patients achieved a 75% improvement on the Psoriasis Area and Severity Index (PASI 75), and 59% reached static Physician Global Assessment scores of 0 or 1 (sPGA 0/1) at Week 16, with improvements continuing over time. By Week 24, approximately 65% of patients achieved PASI 90, while over 40% reached complete skin clearance (PASI 100).
Notably, envudeucitinib outperformed Amgen's Otezla across all PASI endpoints. The drug also demonstrated a favorable tolerability profile through Week 24. Alumis plans to present additional data and prepare a New Drug Application (NDA) submission scheduled for the second half of 2026.
Micron Technology Inc. (NASDAQ:MU)
Micron Technology shares closed with a 10.02% gain at $343.43, with intraday fluctuations between $318.06 and $344.55, the latter marking the stock’s 52-week highest price. The 52-week low stands at $61.54.
Despite this rally, technology sector valuations appeared to soften slightly, bringing some stocks closer to attractive forward price-to-earnings multiples. Industry analyst Dan Ives of Wedbush suggested a potential upside of up to 25% within the sector should a valuation rerating occur.
Within the Nasdaq-100, several technology companies, Micron included, were trading at low forward P/E ratios amid improving earnings visibility. Micron’s valuation lingered around a single-digit forward multiple near 9.8 times earnings. Market movements indicated investor anticipation of an earnings reset related to AI-driven memory demand and recovering pricing dynamics, reflecting a focus on fundamentals over momentum trading.
Ventyx Biosciences Inc. (NASDAQ:VTYX)
Ventyx Biosciences saw its stock price rise by 28.52% to close at $10.05. The intraday trading range peaked at $25 and bottomed at $7.08, mirroring its 52-week high and low at the same levels respectively. During after-hours trading, the stock surged further, increasing by nearly 62.6% to $16.34.
The price appreciation followed reports that pharmaceutical giant Eli Lilly is in advanced discussions to acquire Ventyx for over $1 billion. The purchase would expand Lilly’s portfolio with Ventyx’s pipeline targeting inflammatory bowel diseases such as Crohn’s disease and ulcerative colitis, as well as treatments addressing Parkinson’s disease.
Western Digital Corporation (NASDAQ:WDC)
Western Digital’s share price grew 16.77% to finish at $219.38, with a session range between $188.36 and an intraday high of $221.23, marking the year’s peak, and well above its 52-week low of $28.83.
Western Digital’s gains contributed to a rally among memory chip companies early in 2026, triggered by expectations of rising memory prices amid a global supply shortage. The sector’s momentum lifted related firms, including SanDisk and Seagate.
This rally coincided with a market rotation favoring cyclical and blue-chip names as broader indices advanced.
Benzinga Edge Stock Rankings highlighted SanDisk’s favorable trends across short, medium, and long price horizons, providing a comparative perspective with Western Digital and Seagate.
Overall, Tuesday’s trading patterns reflect investor confidence in technology and biotech sectors powered by strong earnings reports, promising clinical developments, and strategic acquisitive moves.