Stewarts and Lloyds scored five unanswered tries in the second half to blow away a shell-shocked St Ives side 48-10, ending their six-game winning streak.
Only five points separated the sides at half time, but high-flying Stewarts proved too strong for St Ives, who suffered a chastening defeat to slip down to fourth in the Counties 2 Midlands East (South).
Head Coach Paul Humphreys said: "Stewarts had a game plan and executed it very well.
"We rallied and got back to 15-10, looking like we were getting into the game.
"Half time came and killed what momentum we had, followed by a second half that was all Stewarts.
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The Bulls travelled to Corby to take on the unbeaten Stewarts in very wet conditions and found themselves under pressure from the off as the hosts pressed and powered under the posts for a converted score.
The hosts soon scored another unconverted score to make it 12-0 before Ives finally got a foothold in the game.
The Bulls eventually secured some much-need possession, and following a scrum, the ball was fed to outside centre Alex Henly, who dived under the posts for a try, which Joe Cox duly converted to pull it back to 12-7.
Both sides then traded clickable penalties to go in at the break, with Stewarts leading 15-10. However, this was as good as it got for Ives.
Stewarts started the second half in dominating fashion and capitalised on a yellow card to Ives' Duncan Williams for a high tackle to score two tries in quick succession.
Leading 29-10, Ives tried to chase the game but were punished for sloppiness in possession and conceded a further three unanswered tries to cap a miserable and wet afternoon and 48-10 defeat for the Bulls.
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Coach Humphreys added: "We fired very few shots. Not our finest hour, but perhaps it's the wake-up call we needed, and we will lick our wounds, regroup and go again next week."
St Ives next host the joint league leaders and red-hot St Neots on Saturday, November 11, in a local derby.
St Neots just squeezed to a 21-19 win against Rushden and Higham but remain unbeaten this season with eight straight wins.
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