The stock market showed resilience on Wednesday, with all major indices ending in the green territory anew, as investors weighed news of President Donald Trump’s imposition of a new round of tariffs while digesting minutes of the Federal Reserve.
The Dow Jones rose by 0.16 percent, the S&P 500 increased by 0.24 percent, while the tech-heavy Nasdaq eked out a 0.07 percent gain.
Despite the news, ten companies managed to stand out, posting modest gains during the trading session.
To come up with Wednesday’s top performers, we considered only the stocks with more than $1.9 billion in market capitalization and $5 million in daily trading volume.
Note that some stocks we have covered in-depth over the past few days have been excluded from this list.
Stock market data on a laptop screen. Photo by Alesia Kozik on Pexels
10. Devon Energy Corporation (NYSE:DVN)
Shares of Devon Energy Corporation (NYSE:DVN) rallied for a fourth straight day on Wednesday, adding 7.71 percent to close at $37.57 apiece as investor sentiment was fueled by better-than-expected earnings performance last year.
During the fourth quarter, DVN achieved earnings per share (EPS) of $1.16, on core earnings of $756 million, higher by 16 percent than the $1 as expected by analysts. For full-year 2024, EPS stood at $4.82 on core earnings of $3.1 billion.
DVN owed its strong performance to solid results from its diversified, multi-basin portfolio and record-breaking oil production of 398,000 barrels per day which exceeded guidance by 3 percent.
Total companywide production for the quarter averaged 848,000 oil-equivalent barrels per day, representing a 16-percent jump from the previous quarter.
DVN is set to transition to a new leadership come March 1, with the appointment of Clay Gaspar as the new president and CEO, replacing Rick Muncrief who is set to retire.
9. D-Wave Quantum Inc. (NYSE:QBTS)
D-Wave Quantum Inc. (NYSE:QBTS) saw its share prices increase by 8.28 percent on Wednesday to close at $6.54 apiece as investors bought up on news that it developed, along with Staque Solutions, a commercial hybrid-quantum application that would help accelerate computing solutions for agricultural decision-makers to enhance agri robotics, farming sustainability, planning for ever-changing conditions, and most importantly, perk up crop production.
With the use of quantum technology, decision-making in agriculture is expected to transform, innovate, and replace traditional computation methods which typically take days to weeks.
“This strategic partnership with D-Wave will allow us to provide annealing quantum computing solutions with the speed and accuracy that is important for the agriculture industry,” said Staque COO Krishna Ganesh.
The companies said they expect quantum-optimized solutions to increase crop production, drive efficiencies, and lower farming costs.
8. STMicroelectronics N.V. (NYSE:STM)
STMicroelectronics N.V. (NYSE:STM) saw its share prices rise by 8.44 percent on Wednesday to close at $26.47 apiece as investor sentiment was buoyed by its upgraded rating from an investment bank.
On Wednesday, STM received a “buy” rating from Jefferies, an upgrade from the “hold” rating previously. It also earned a 47-percent higher price target of €34 versus the €23 set previously.
According to Jefferies, the improved rating was based on several key expectations, including a normalization of operations following inventory correction and increased components in the upcoming iPhone 17, coupled with a rebound in industrial demand.
Other growth drivers for STM include Artificial Intelligence solutions, low-Earth orbit satellites, silicon photonics, and auto microcontroller units (MCU).
7. Analog Devices, Inc. (NASDAQ:ADI)
Analog Devices, Inc. (NASDAQ:ADI) extended its winning streak for a fifth straight day, ending Wednesday’s session higher by 9.74 percent to close at $241.66 apiece after beating analyst estimates on its earnings performance.
During the first quarter of fiscal year 2025, ADI said it achieved earnings per share of $1.63 versus the $1.54 consensus estimate.
However, net income for the period dropped by 15 percent to $391 million from the $462 million reported in the same period last year, as revenues declined by 4 percent to $2.4 billion from $2.5 billion.
For the next quarter, ADI expects to book revenues of $2.5 billion, plus or minus $100 million, while EPS is pegged at $1.68, plus or minus $0.10.
ADI is a global semiconductor leader that bridges the physical and digital worlds to enable breakthroughs at the Intelligent Edge. It combines analog, digital, and software technologies into solutions that help drive advancements in digitized factories, mobility, and digital healthcare, among others.
6. Microchip Technology Incorporated (NASDAQ:MCHP)
Microchip Technology Incorporated (NASDAQ:MCHP) extended its winning streak for a seventh consecutive day, adding 9.9 percent on Wednesday to close at $63.59, as investor sentiment was fueled by the company’s introduction of the MPLAB AI Coding Assistant, an advanced AI-powered software development tool designed to assist software developers and embedded engineers in writing and debugging code.
According to the company, MPLAB AI Coding Assistant is a Microsoft Visual Studio Code (VS Code) extension free for use based on Continue—the market’s leading open-source AI code assistant—and comes preconfigured with MCHP’s AI chatbot for real-time support.
“The MPLAB AI Coding Assistant represents a significant leap forward in software development and will transform how engineers work with Microchip products,” said MCHP Vice President for Development Systems and Academic Programs Rodger Richey. “We are harnessing the power of AI to provide interactive, real-time support that helps developers create better software, more quickly and with less hassle.”
5. Viking Therapeutics, Inc. (NASDAQ:VKTX)
Viking Therapeutics, Inc. (NASDAQ:VKTX) surged by 10.36 percent on Wednesday to finish at $32.29 apiece despite the lack of clear catalysts to spark buying appetite.
The company, which released its 2024 earnings performance earlier this month registered a 44-percent higher net loss in the fourth quarter at $35.4 million, versus the $24.6 million in the same period a year earlier, primarily due to the increase in research and development expenses and general and administrative expenses, partially offset by an increase in interest income.
Net loss for full-year 2024 also widened by 28 percent to $109.96 million from $85.895 million in 2023.
Last week, VKTX earned lower price targets from two investment firms, with Maxim cutting its price target by 42 percent to $70 from $120, citing the company’s wider-than-expected loss per share in the fourth quarter of 2024.
Meanwhile, B. Riley also lowered its price target for VKTX to $96 from $109, representing an 11-percent cut, while keeping the “buy” rating on the shares.
Despite a disappointing earnings performance, B. Riley noted that it was especially impressed by the strong results from its potential weight loss asset VK2735, which could become a groundbreaking development in the field.
4. Celsius Holdings, Inc. (NASDAQ:CELH)
Celsius Holdings, Inc. (NASDAQ:CELH) grew its share prices by 14.73 percent on Wednesday to end at $26.09 apiece as investors repositioned their portfolios ahead of its earnings release after the market closes tomorrow, February 20.
The last-minute earnings release schedule came as a surprise to investors and also a cue that the firm is expected to report good news.
Analysts are expecting the company to post $325.5 million in sales, as well as earnings per share of 15 cents.
Earnings aside, analysts remained bullish on CELH, with the company earning eight “buy” and four “hold” ratings, with an average price target of $38.91.
On Friday, CELH is also expected to participate in an investor conference at the Consumer Analyst Group of New York Conference.
3. ImmunityBio, Inc. (NASDAQ:IBRX)
ImmunityBio, Inc. (NASDAQ:IBRX) surged by 16.42 percent on Wednesday to end at $3.9 apiece as investors cheered news that it was authorized by the Food and Drug Administration (FDA) to help address the supply shortage of bladder cancer treatments in the US through bringing a vital alternative source of BCG (Bacillus Calmette-Guérin).
Upon securing FDA approval, IBRX said supplies of rBCG have been shipped immediately. The alternative source was developed by the Serum Institute of India, the world’s largest manufacturer of vaccines by volume.
“With the increasing threat of supply shortages of essential medicines, the biopharmaceutical industry must innovate and secure new means of ensuring uninterrupted access to vital therapeutics,” said Dr. Patrick Soon-Shiong, Founder, Executive Chairman and Global Chief Scientific and Medical Officer of ImmunityBio. “Our collaboration with the FDA and Serum Institute to ensure a reliable supply of this vital drug for bladder cancer patients underscores ImmunityBio’s commitment to addressing critical access issues that affect so many patients.”
Data from the National Cancer Institute in 2024 showed that there were 83,190 estimated new cases of bladder cancer in the US, while 16,840 died from the disease during the period. The current survival rate for individuals with bladder cancer is 78.4 percent.
2. Hims & Hers Health, Inc. (NYSE:HIMS)
Telehealth company Hims & Hers Health, Inc. (NYSE:HIMS) saw its share prices increase by 17.5 percent on Wednesday to finish at $68.74 apiece as investors gobbled up shares following its recent move to expand into at-home blood testing and diagnostics.
On Wednesday, HIMS announced that it officially acquired at-home laboratory testing facility Trybe Labs, allowing the company to offer at-home blood draws and more comprehensive pretreatment testing.
HIMS did not disclose the terms of the deal but said the acquisition was completed through cash on hand.
“Access to richer data allows us to deepen the insights that providers can use on our platform to guide their clinical decisions for each individual patient,” HIMS Chief Medical Officer Dr. Patrick Carroll said. “At-home lab testing is one more exciting step towards elevating the personal, comprehensive care customers in this country should expect,” he added.
1. Compass, Inc. (NYSE:COMP)
Real estate broker Compass, Inc. (NYSE:COMP) rallied for a sixth consecutive day on Wednesday, soaring 28.32 percent to end at $10.24 apiece as investors cheered the company’s improved earnings performance last year.
In its earnings release, COMP said net loss attributable to the company for the fourth quarter narrowed by 51.6 percent to $40.5 million from $83.7 million year-on-year, while net loss attributable to the parent for full-year 2024 shrunk by 51.9 percent to $154.4 million from $321.3 million in 2023.
Meanwhile, revenues for the quarter rose by 26 percent to $1.38 billion from $1.09 billion year-on-year, while revenues for full-year 2024 grew 15 percent to $5.6 billion from $4.88 billion.
For the first quarter of the year, the company pegged revenues at $1.35 billion to $1.475 billion, exceeding consensus of $1.335 billion.
While we acknowledge the potential of COMP as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than COMP but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.
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