IBM and Carnival Lead Afternoon Market Cap Movers on Wednesday

Market Update: Notable Stock Movements on Wednesday

Wednesday’s market witnessed significant fluctuations in stocks across different capitalization levels. In the mega-cap and large-cap sectors, IBM recorded a notable increase, while Google Inc faced a decline. Carnival Corporation experienced a substantial surge, while Constellation Energy Group saw a sharp drop. Below is an overview of the day’s major stock movers, spanning from mega-caps to small-caps.

Mega-Cap Movers (Market Cap $200B+):

• IBM: Announcing third-quarter 2024 financial results, with a target raised by Bank of America; +2.56%
• Google Inc: Fell due to concerns that the Department of Justice might push for a breakup; -2.34%
• Avago Technologies: +2.18%
• Pinduoduo: Consolidated recent gains; -2.00%
• Costco Wholesale Corporation: +1.86%

Large-Cap Stock Movers (Market Cap $10B-$200B):

• Carnival Corporation: Target raised at Citigroup; +7.50%
• Constellation Energy Group: -7.22%
• NRG Energy Inc: -6.27%
• Netease.com: -5.18%
• Atlassian Corporation: Announced date for the first quarter of fiscal year 2025 financial results; +5.06%
• Snowflake Inc: +5.15%
• Royal Caribbean: Target raised at Citigroup; +4.76%
• Affirm Holdings: Stock upgraded by Morgan Stanley due to improved customer base; +5.18%
• Super Micro Computer: +4.78%

Mid-Cap Stock Movers (Market Cap $2B-$10B):

• Arcadium Lithium: Acquired by Rio Tinto for $6.7 billion; +30.42%
• Astera Labs: Launched first PCIe 6 switch for AI workloads; +16.91%
• Norwegian Cruise Line Holdings: Target raised at Citigroup; +10.63%
• Delek Logistics Partners: -11.95%
• Halozyme Therapeutics: -7.32%
• New Providence Acquisition Corp: -6.31%
• Polestar Automotive Holding: +7.28%
• Amer Sports: Reports 60% revenue growth in China during Golden Week; +5.75%
• RLX Technology: -6.38%
• Gitlab: +6.68%; received new "Overweight" rating at Morgan Stanley

Small-Cap Stock Movers (Market Cap $300M-$2B):

• IDT Corporation: +19.83% following NRSInsights’ September 2024 Retail Same-Store Sales Report
• Helen of Troy Ltd: Beat Q2 expectations, leading to a rise in shares; +16.83%
• Byrna Technologies: -15.67%
• Gores Metropoulos: +16.29%
• Advanced Photonix: -13.53%
• Retrophin: +13.77%
• UP Fintech Holding: -15.48%
• Compass Minerals: +12.06%
• Urogen Pharma: Appointed Chris Degnan as CFO; -10.83%
• BingEx: -10.07%

This summary highlights significant movements within the stock market, indicating a dynamic trading day across various sectors.