U.S. stocks were higher, with the Dow Jones index gaining around 100 points on Wednesday.
Shares of PayPal Holdings Inc (NASDAQ:PYPL) rose sharply following a report that Stripe and Advent International have proposed a joint acquisition of the digital payments firm in a deal valued at over $53 billion.
The proposal for $60.50 per share, backed by close to $50 billion in committed financing from banks, was submitted earlier this month, Reuters reported. That implies a 28% premium to PayPal’s closing share price on Tuesday,
PayPal shares jumped 13.5% to $53.74 on Wednesday.
Here are some other big stocks recording gains in today’s session.
- Aehr Test Systems (NASDAQ:AEHR) shares jumped 45.5% to $104.75 after the company reported better-than-expected quarterly financial results and issued FY27 sales guidance above estimates.
- Electrovaya Inc (NASDAQ:ELVA) gained 33.1% to $10.50. Electrovaya announced commercial relationship with Amazon.
- Robo.ai Inc (NASDAQ:AIIO) gained 19.7% to $4.78.
- Falcon’s Beyond Global Inc (NASDAQ:FBYD) surged 19% to $12.76.
- Veradermics Inc (NYSE:MANE) rose 14.3% to $125.79 as the company’s VDPHL01 Phase 2 trial met key endpoints in female pattern hair loss, showing rapid onset of hair growth.
- Lucid Group Inc (NASDAQ:LCID) surged 11.3% to $5.14.
- Kopin Corp (NASDAQ:KOPN) gained 9.3% to $4.11.
- MINISO Group Holding Ltd – ADR (NYSE:MNSO) jumped 9.2% to $12.59.
- Mesoblast Ltd (NASDAQ:MESO) gained 7.8% to $18.05.
- Nexstar Media Group Inc (NASDAQ:NXST) rose 7.1% to $188.00.
- Lionsgate Studios Corp (NYSE:LION) gained 7.1% to $14.23 following reports suggesting that the company attracted takeover interest from Bellore and Banijay.
- Karman Holdings Inc (NYSE:KRMN) surged 6.7% to $48.92. Karman Holdings will replace BrightSpring Health Services in the S&P SmallCap 600 effective prior to the opening of trading on Friday, July 17.
- Alibaba Group Holding Ltd – ADR (NYSE:BABA) gained 6.4% to $119.49 after China approved Apple Intelligence for use on domestic iPhones, marking a key regulatory milestone for Apple’s AI rollout in the country.
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