Stocks finished lower Wednesday after minutes from the latest Federal Reserve meeting showed central bank officials believed more progress was needed in the employment market before it considered tapering stimulus but most said “it could be appropriate to start reducing the pace of asset purchases this year.
Here of some of the top stock gainers for Wednesday:
1. PharmaCyte Biotech | Increase 189%
PharmaCyte Biotech (PMCB) – Get Report, which debuted on the Nasdaq last week, was skyrocketing as the chief executive laid out plans for the biotech company.
PharmaCyte Biotech was also receiving a lot of attention on Stocktwits.
2. Lowe's | Increase 9.6%
Shares of Lowe's (LOW) – Get Report climbed after the home-improvement retailer posted stronger-than-expected second-quarter earnings and raised its full-year revenue outlook.
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Revenue rose 1.1% to $27.6 billion, topping analysts' estimates of $26.8 billion.
3. ViacomCBS | Increase 3.7%
ViacomCBS (VIAB) – Get Report rose after Wells Fargo upgraded the entertainment giant to overweight from equal weight and lifted its price target on the stock to $60 from $45.
Analyst Steven Cahall acted as ViacomCBS and Comcast (CMCSA) – Get Report unveiled a partnership to launch a video-on-demand subscription service.
4. Alcon | Increase 12%
Shares of Alcon (ALC) – Get Report jumped after the eye-care specialist reported estimate-beating second-quarter results and full-year guidance.
The company posted adjusted earnings of 56 cents a share, swinging from a loss of 21 cents a year earlier, as revenue increased 74% to $2.11 billion.
5. Virpax Pharmaceuticals | Increase 49%
Virpax Pharmaceuticals (VRPX) – Get Report shares soared after the company announced a positive pre-investigational new drug response from the Food and Drug Administration on its product to inhibit SARS-CoV-2 and the flu.