Analog Devices Posts Strong Earnings, Joins TJX, Williams-Sonoma And Other Big Stocks Moving Higher On Wednesday

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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