U.S. stocks were lower, with the Nasdaq Composite falling more than 100 points on Wednesday.
Shares of Penguin Solutions Inc (NASDAQ:PENG) rose sharply after the company announced better-than-expected third-quarter financial results.
Penguin reported adjusted earnings per share of 84 cents, beating the consensus estimate of 54 cents. In addition, it reported revenue of $478.71 million, beating the consensus estimate of $405.53 million.
Penguin Solutions shares jumped 18.8% to $74.50 on Wednesday.
Here are some other big stocks recording gains in today’s session.
- Prime Medicine, Inc (NASDAQ:PRME) gained 15.1% to $4.59 after announcing positive resolution to arbitration with Beam Therapeutics.
- Beazer Homes USA Inc (NYSE:BZH) gained 14.7% to $31.47. Dream Finders Homes confirmed increased all-cash bid to acquire Beazer Homes at $32.00 per share.
- Terawulf Inc (NASDAQ:WULF) gained 11.5% to $22.56.
- Veraxa Biotech AG (NASDAQ:VRXA) rose 11.2% to $3.37.
- Alibaba Group Holding Ltd – ADR (NYSE:BABA) gained 10.6% to $108.60 amid investor optimism ahead of its upcoming earnings after reports suggested that the company expects narrowing losses in its instant-commerce business.
- Profrac Holding Corp (NASDAQ:ACDC) jumped 10% to $5.18.
- Kingsoft Cloud Holdings Ltd (NASDAQ:KC) gained 10% to $10.38. Kingsoft Cloud shares gained over 3% on Tuesday after Morgan Stanley initiated its coverage on the stock with an Overweight rating and announced a price target of $15.
- Par Pacific Holdings Inc (NYSE:PARR) jumped 9% to $66.98.
- Swarmer Inc (NASDAQ:SWMR) rose 8.8% to $43.76.
- BridgeBio Oncology Therapeutics Inc (NASDAQ:BBOT) jumped 7.5% to $8.91. JP Morgan analyst Priyanka Grover initiated coverage on BridgeBio Oncology with an Overweight rating and announced a price target of $27.
- Kirby Corp (NYSE:KEX) gained 7.1% to $143.46. B of A Securities analyst Ken Hoexter maintained Kirby with a Buy and raised the price target from $169 to $182.
- AXT Inc (NASDAQ:AXTI) rose 5.6% to $61.40. AXT’s subsidiary is withdrawing IPO application from Shanghai Stock Exchange’s STAR Market, to carry out Hong Kong Stock Exchange listing.
- Patterson-UTI Energy Inc (NASDAQ:PTEN) gained 5.3% to $9.64. Susquehanna analyst Charles Minervino maintained Patterson-UTI Energy with a Positive and lowered the price target from $14 to $12.
- Baidu Inc (NASDAQ:BIDU) rose 4.8% to $117.47.
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