U.S. stocks were slightly lower, with the Dow Jones index falling around 10 points on Wednesday.
Shares of Analog Devices, Inc. ADI rose sharply during Wednesday's session following better-than-expected second-quarter financial results.
Analog Devices posted adjusted earnings of $1.40 per share, beating market estimates of $1.26 per share. The company's quarterly sales came in at $2.160 billion versus expectations of $2.106 billion, according to data from Benzinga Pro.
Analog Devices shares surged 6% to $229.69 on Wednesday.
Here are some other big stocks recording gains in today's session.
- IGM Biosciences, Inc. IGMS jumped 24% to $10.44.
- Petco Health and Wellness Company, Inc. WOOF gained 23% to $3.0201 following better-than-expected quarterly financial results.
- CureVac N.V. CVAC shares surged 20.3% to $3.9604.
- Daqo New Energy Corp. DQ shares rose 12.1% to $21.43.
- Bloom Energy Corporation BE jumped 10.7% to $16.76.
- SunPower Corporation SPWR gained 10.5% to $3.0294 after the company announced it will now offer Tesla Powerwall 3 as part of its portfolio.
- Novavax, Inc. NVAX gained 9.5% to $16.33. Shah Capital recently withdrew its proxy campaign against the re-election of directors at Novavax’s 2024 Annual Meeting.
- Canadian Solar Inc. CSIQ climbed 9.2% to $17.28. Roth MKM analyst Philip Shen maintained Canadian Solar with a Buy and maintained a $25 price target.
- Brady Corporation BRC rose 8.6% to $65.48 after the company posted upbeat quarterly earnings and raised earnings guidance for FY24.
- Loar Holdings Inc. LOAR gained 7.8% to $60.31.
- First Solar, Inc. FSLR climbed 7.3% to $227.62.
- Fluence Energy, Inc. FLNC gained 7.1% to $20.18.
- The TJX Companies, Inc. TJX rose 6.8% to $104.32 following upbeat earnings.
- BioNTech SE BNTX gained 6.4% to $98.00.
- Vipshop Holdings Limited VIPS rose 5.7% to $17.38 following upbeat quarterly earnings.
- Moderna, Inc. MRNA gained 5.6% to $151.80.
- Crinetics Pharmaceuticals, Inc. CRNX shares gained 5.5% to $52.22 after the company announced the early release of ENDO 2024 late-breaking abstracts..
- Williams-Sonoma, Inc. WSM rose 4.7% to $329.05 after the company reported first-quarter financial results.
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