U.S. stocks ended firmly in the green on Wednesday with the Dow Jones Industrial Average rising 0.4% to 38,677.36 for the day. The S&P 500 rose 0.8% to 4,995.06, while the Nasdaq was higher by 0.95% at 15,756.64.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
PayPal Holdings, Inc. PYPL experienced a slight decline of 0.74%, closing at $63.24. Despite the dip, PayPal’s fourth-quarter revenue increased 9% year-over-year to $8.03 billion, beating consensus estimates. The company reported quarterly adjusted earnings of $1.48 per share, with total payment volumes up 15%. CEO Alex Chriss highlighted the company’s commitment to driving profitable growth and the focus on execution for long-term success.
Arm Holdings Plc. ARM saw a significant increase of 5.52%, closing at $77.01. Arm Holdings reported adjusted quarterly earnings of 29 cents per share, beating analyst estimates. Quarterly sales were $824 million, driven by strong demand for advanced Arm CPUs and higher royalty rates from Armv9-based chips. CEO Rene Haas emphasized the AI wave’s role in driving licensing growth.
MicroCloud Hologram Inc. HOLO shares skyrocketed, closing up 1100.00% at $18. The company announced its intention to join the Communications Industry Association to foster IT innovation, marking a significant step towards integrating new technologies into various industries.
Alibaba Group Holding Limited BABA traded lower by 5.87%, closing at $73.64. Alibaba reported third-quarter revenue growth of 5% year-on-year to $36.67 billion, slightly missing consensus estimates. The e-commerce giant also upsized its share buyback program to $25 billion, signaling confidence in its long-term value.
The Walt Disney Company DIS saw a minor decrease of 0.15%, closing at $99.14. Disney announced a $1.5 billion investment in Epic Games, marking its largest foray into gaming. The company reported first-quarter revenue of $23.5 billion and adjusted earnings per share of $1.22, with CEO Bob Iger highlighting Disney’s new era focused on growth across its segments.
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