10 Firms, Predominantly Gold Miners, Lead Wednesday Rally

Ten companies–predominantly gold miners–led Wednesday’s rally on Wall Street, despite the latter’s main indices closing mixed.

The Dow Jones eked out a 0.25 percent gain, while the S&P’s main index inched up 0.16 percent. Nasdaq bucked counterparts, dipping by 0.06 percent.

In this article, we will look at the performance of the some of the gainers and explore the reasons behind their jump.

We considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume to come up with Wednesday’s top advancers.

A front loader and a white dump truck in a mine site. Photo by Ivan on Pexels

10. Boston Scientific Corp. (BSX)

Boston Scientific Corp. (BSX) —a biotechnology company—saw its share price rise by 4.3 percent to $95.95 apiece on Wednesday as investors took heart from news that it would acquire Bolt Medical Inc. for $664 million.

According to Boston Scientific, it would pay $443 million upfront, while up to $221 million will be paid in milestones.

Prior to the ownership hike, Boston Scientific already owned more than 20 percent of Bolt Medical. Its acquisition will allow the company to enter the intravascular lithotripsy (IVL) market.

Bolt Medical is focused on the design and development of laser-based IVL catheters used in coronary and peripheral interventional procedures, particularly in patients with moderate to severe calcified arterial disease, an innovation that helped establish its name in 2019. According to the company, it currently employs around 250 employees.

9. Maplebear Inc. (CART)

Maplebear Inc. (CART), which operates grocery technology Instacart, registered a 4.45-percent increase in its share price on Wednesday to end at $44.82 apiece following news that it was joining the S&P MidCap 400 index.

Maplebear is set to replace Enovis Corp. which will then move to the S&P SmallCap 600.

The adjustments in the index will take effect on Tuesday, January 14.

In other news, Instacart also partnered with Ulta Beauty (ULTA) to offer same-day delivery from more than 1,400 Ulta locations across the United States. To celebrate the partnership’s launching, Ulta Beauty (ULTA) customers would be able to receive $10 off a minimum of $50 order until January 26.