The stock market ended mixed on Wednesday, with the Dow Jones emerging as the sole decliner, as investors digested more news of tariff threats from President Donald Trump.
The Dow dropped by 0.20 percent, while the S&P 500 and Nasdaq clocked in gains of 0.49 percent and 1.22 percent, respectively.
Meanwhile, 10 companies, predominantly those riding the AI wave, were touted as investors’ haven, clocking in gains during a cautious trading session.
In this article, we have identified the 10 strongest firms on Wednesday and detailed the reasons behind their performance.
To come up with the list, we considered only the stocks with at least $2 billion in market capitalization and $5 million in trading volume.
A trader cheers his market gains. Photo by Tima Miroshnichenko on Pexels
10. Amentum Holdings Inc. (NYSE:AMTM)
Amentum snapped a two-day losing streak on Wednesday, jumping 8.10 percent to close at $18.42 apiece as investors resorted to bargain-hunting following news that it partnered with Rivada Space Networks to establish a unique, ultra-secure low Earth orbit (LEO) network to support the US government’s mission-critical communications globally.
In a statement, Rivada said it was building a uniquely capable LEO constellation focused on zero-trust networking, which would see the establishment of a highly secure global communications backbone in space.
“The Outernet not only strengthens digital infrastructure but also expands mission capabilities for our US government customers,” it said.
For his part, Dave Marlowe, vice president for intelligence and cyber at AMTM, said: “Our goal is to ensure our customers have access to the latest innovation in secure space architecture as part of their national security solutions.”
9. Rocket Companies Inc. (NYSE:RKT)
Rocket Companies rose by 8.12 percent on Wednesday to end at $14.25 each as investors resorted to bargain-hunting following Tuesday’s second consecutive day of dip, as investors continued to digest news of its $1.75-billion acquisition of real estate brokerage company Redfin.
In a statement, RKT said it had entered into an agreement with Redfin for an all-stock deal for $12.50 per Redfin share or a total of $1.75 billion.
Founded in 2004, Redfin is one of America’s most recognized real estate brands, operating a top-three home search platform with more than 1 million for-sale and rental listings and a tech-powered brokerage of more than 2,200 agents.
Meanwhile, RKT boasts itself as a growing provider of home financing to homebuyers for 40 years now. By combining Redfin’s home search and real estate agent network with RKT’s mortgage origination and servicing capabilities, the company envisions a more seamless experience from search to close, to servicing and future transactions.
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