Hot or Not, Stock Market Edition: 07/31/2025

Every stock has a story — here are some of the trending tickers we’re watching today:

• Hot: Incyte Corporation (INCY) impresses investors; Corning’s (GLW) impressive earnings spur impressive gains
• Not: Carrier Global Corporation (CARR) misses expectations; why Spotify (SPOT) recently lost over 10% 

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🔥 HOT: Shares of pharmaceutical company Incyte Corporation (NASDAQ: INCY) gained 10.3% on Tuesday after its second-quarter earnings impressed investors. The company’s revenue and EPS exceeded analysts’ expectations. Sales of its eczema cream, Opzelura, were 35% higher than the previous year, which was significantly higher than even the most optimistic models were predicting. Meanwhile, sales of its best-selling drug, Jakafi, grew by 8% year-over-year, which is impressive given that it’s already established on the market. Our research finds that the stock’s Value and Growth potential are its strong suits, and we give INCY A ratings for both metrics. We’re always wary of pharmaceutical stocks, but we give INCY a B Zen Rating and a Buy recommendation.

> Learn more about Value stocks here

🥶 NOT: Carrier Global Corporation (NYSE: CARR) lost 10.6% despite reporting positive second-quarter earnings numbers because its adjusted earnings fell slightly short of analysts’ expectations. More concerning for CARR investors, however, is the fact that the options market is pricing in a large move to the downside for the stock. Unusual options activity can sometimes signal large moves, and there was an unusual amount of volume traded for options below CARR’s current price for the September 19th expiration. Our analysis corroborates this uneasy feeling by giving CARR an F rating in Growth. The stock has performed well this year, but we can’t see it continuing on its current trajectory. Therefore, we give CARR a C Zen Rating and a Hold recommendation.

🔥 HOT: Corning’s (NYSE: GLW) second-quarter earnings propelled it to an 11.9% gain on Tuesday. The stock’s EPS came in at $0.60, above the consensus estimate of $0.57 and well above last year’s value of $0.47. Corning’s revenue was also higher than expected, totalling $4.04 billion, about 5% higher than projections. Our analysis puts GLW at 10th out of 32 stocks in the Electronic Component industry and gives it B ratings in Growth and Safety. GLW’s volatility has been remarkably low this year, especially given macroeconomic conditions, and we feel comfortable giving the stock a B Zen Rating and a Buy recommendation.

🥶 NOT: Spotify (NYSE: SPOT) lost 11.6% on Tuesday due to missing its quarterly revenue projections. The stock is still up 37.6% YTD, but missed its target levels due to “outsized currency movements,” at least, according to the statement it released. While currencies have been more volatile than usual, some of Spotify’s miss is also due to lingering podcast licensing rights putting a significant drag on its growth. The company also implemented price hikes, which should help in the long run, but also scared away some long-time customers. The worst thing about SPOT, according to our analysis, is that Sentiment (F rating) is at an all-time low. The company has been in the spotlight for reducing its staff and replacing some workers with AI, a move that is not viewed favorably by the public. Still, its Financials are solid and it has a lot of room for Growth, so we give SPOT a C Zen Rating and a Hold recommendation.

What to Do Next?

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