Biggest stock movers Tuesday: TSLA, AVAV, and more

July 01, 2025 02:00 AM PDT | By EODHD

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Biggest stock movers Tuesday: TSLA, AVAV, and more — Image source: Kalkine Media

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[u.s. tariff] Stock futures inched lower Tuesday morning, easing after the S&P 500 hit a fresh record high, as investors awaited a key vote on President Donald Trump's landmark tax and spending legislation. Here are some of Tuesday's biggest stock movers: BIGGEST STOCK GAINERS * WOLFSPEED (WOLF [https://seekingalpha.com/symbol/WOLF]) +70% – Shares skyrocketed after the silicon carbide company announced a pre-packaged Chapter 11 restructuring aimed at slashing debt by 70% ($4.6B) and cutting annual cash interest payments by 60%. Wolfspeed expects to emerge from the process by the end of Q3 '25, with a stronger balance sheet to accelerate strategic growth. The company cited strong lender support and emphasized its leadership in the silicon carbide space, bolstered by its fully automated 200mm manufacturing operations.

BIGGEST STOCK LOSERS * TESLA (TSLA [https://seekingalpha.com/symbol/TSLA]) -4% – Shares slipped after President Donald Trump criticized Elon Musk on Truth Social, claiming he has overly benefited from EV subsidies and suggesting Tesla wouldn't survive without them. Separately, Tesla faces mounting headwinds in Europe, with vehicle registrations in Denmark plunging 61.6% Y/Y in June to 1,282 units, per Mobility Denmark data. The sharp drop underscores weakening demand in a key European market where Tesla previously saw strong growth. * AEROVIRONMENT (AVAV [https://seekingalpha.com/symbol/AVAV]) -7% – Shares dropped after the defense tech firm announced plans to raise up to $1.35B via public offerings of stock and convertible debt. The company aims to offer $750M in common stock and $600M in convertible senior notes due 2030, with underwriters granted options to purchase up to an additional $112.5M in stock and $90M in notes.

Proceeds will be used to repay existing term loans and revolver borrowings, with the remainder allocated for general corporate purposes, including boosting manufacturing capacity. * PROGRESS SOFTWARE (PRGS [https://seekingalpha.com/symbol/PRGS]) -4% – Shares slipped despite delivering a solid Q2, with non-GAAP EPS of $1.40 topping estimates by $0.10 and revenue of $237.4M (+35.6% Y/Y) coming in line. Annualized Recurring Revenue climbed 46% Y/Y to $838M on a constant currency basis. The company also raised its FY2025 guidance, now expecting revenue between $962M and $974M (vs. prior $958M–$970M and consensus $965.5M), and adjusted EPS of $5.28–$5.40 (vs.

prior $5.25–$5.37 and consensus $5.31). MORE ON RELATED STOCKS: * Progress Software Corporation (PRGS) Q2 2025 Earnings Call Transcript [https://seekingalpha.com/article/4798446-progress-software-corporation-prgs-q2-2025-earnings-call-transcript] * Progress Software Corporation 2025 Q2 - Results - Earnings Call Presentation [https://seekingalpha.com/article/4798443-progress-software-corporation-2025-q2-results-earnings-call-presentation] * Tesla: Expect Q2 Fundamentals To Be A Disaster [https://seekingalpha.com/article/4798413-tesla-expect-q2-fundamentals-to-be-a-disaster] * Tesla’s Europe slump deepens as Denmark, Sweden registrations fall over 60% in June [https://seekingalpha.com/news/4464022-teslas-europe-slump-deepens-as-denmark-registrations-drop-nearly-62-in-june] * Musk threatens to oust Trump tax bill backers, floats new political party [https://seekingalpha.com/news/4464028-musk-threatens-to-oust-trump-tax-bill-backers-floats-new-political-party]

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