
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.