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Enphase Energy Inc (NASDAQ: ENPH) stock was trading higher by more than 30 percent early Wednesday morning in reaction to an acquisition announcement. The global energy technology company agreed to acquire SunPower Corporation (NASDAQ: SPWR)'s microinverter business for $25 million in cash and 7.5 million shares of Enphase common stock. The transaction also adds 140 new patents to Enphase's IP portfolio.

Sprint Corp (NYSE: S) was trading higher by more than 2 percent, likely in reaction to Tuesday's court decision that favors AT&T Inc. (NYSE: T)'s acquisition of Time Warner Inc (NYSE: TWX). According to Fierce Wireless, Tuesday's merger ruling could be seen as a "positive sign" for Sprint's potential merger with T-Mobile Us Inc (NASDAQ: TMUS).

WSI Industries, Inc. (NASDAQ: WSCI) was trading higher by more than 10 percent in reaction to a top-and-bottom-line earnings beat. The company reported it made 16 cents per share in the fiscal third quarter on revenue of $9.79 million versus expectations of a 6-cent per share loss and $9.594 million.

Sharing Economy International Inc (NASDAQ: SEII) was trading higher by more than 20 percent. The China-based company that targets the global sharing economy markets said one of its wholly-owned subsidiary entered into a licensing agreement with Ecrent Capital to establish a website platform in North Korea.

Can Fite Biofarma Ltd (NYSE: CANF) was trading higher by nearly 20 percent. Analysts at H.C. Wainwright initiated coverage of the biotechnology company that treats inflammatory and liver diseases with a Buy rating and $8 price target, which implies notable upside from Tuesday's closing price of $1.30.

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