Ten stocks boasted a double-digit rally on Wednesday, mimicking a broader market optimism, helped by expectations of easing tensions in the Middle East.

On Wall Street, the Nasdaq led the gains, up by 0.77 percent. The Dow Jones followed with a 0.66 percent jump, while the S&P 500 increased by 0.54 percent.

In this article, we spotlight the 10 top-performing companies on Wednesday and break down the reasons behind their gains.

To come up with the list, we focused on the stocks with a $2 billion market capitalization and 5 million shares in trading volume.

10. Planet Labs PBC (NYSE:PL)

Planet Labs soared to a new all-time high on Wednesday, as investors took path from a combination of broader market optimism, as well as the progress of its manufacturing expansion in Europe.

In intra-day trading, Planet Labs PBC (NYSE:PL) soared to a record high of $37.05 before paring gains to end the session just up by 11.12 percent at $35.37 apiece.

The company said that it has begun recruiting highly-skilled German talent to operationalize its upcoming satellite manufacturing facility in Berlin, as part of its plan to double the production capacity of its next-generation, high-resolution Pelican fleet, while reinforcing the European country’s role as a hub for advanced aerospace engineering.

Some 70 individuals are targeted to be hired in addition to the existing 150 employees, including high-level leadership and specialized technical roles such as director of manufacturing, mission director for constellation services, and multiple engineering roles.

Berlin has served as Planet Labs PBC’s (NYSE:PL) headquarters for more than 10 years, acting as the Mission Control center for its global fleet of about 200 satellites. Its expansion would support the company’s $900 million worth of backlogs for the current fiscal period, which marked a 79 percent growth from fiscal year 2026.

“With this excellent backlog as well as our healthy pipeline, we project strong growth for this year and beyond,” said Planet Labs PBC (NYSE:PL) Chairman and CEO Will Marshall.

9. Chewy Inc. (NYSE:CHWY)

Chewy bounced back by 13.30 percent on Wednesday to finish at $26.57 apiece, as investor sentiment was bolstered by its upbeat growth outlook for the year, encouraged by a strong sales performance in 2025.

In an updated report, Chewy Inc. (NYSE:CHWY) said that it is targeting to grow its net sales by 7.9 to 9 percent to a range of $13.60 billion to $13.75 billion, versus the $12.6 billion last year. Adjusted EBITDA margin is also projected to increase by 6.6 to 6.8 percent.

For the first quarter alone, net sales are pegged at $3.33 billion to $3.36 billion, or an implied growth of 6.7 to 7.7 percent from the $3.12 billion registered in the same quarter last year.

Despite strong sales, Chewy Inc. (NYSE:CHWY) saw its net income last year drop by 43 percent to $222.8 million from $392.7 million in 2024. However, net income for the fourth quarter alone surged by 72 percent to $39.2 million from $22.8 million year-on-year.

Prior to its financial release, investment firm TD Cowen reiterated its “buy” recommendation and $39 price target for the stock, given its 18 percent CAGR in its EBITDA for years 2026 to 2031, as well as its relative insulation from potential tariffs and recession headwinds versus its counterparts.

8. Enliven Therapeutics Inc. (NASDAQ:ELVN)

Enliven Therapeutics soared to a new five-year high on Wednesday, as investors took heart from two analysts’ optimistic coverage for the stock, with one raising its price target by 9.7 percent.

In intra-day trading, the stock climbed to a record high of $36.65 before paring gains to finish the session just up by 14.06 percent at $35.53 apiece.

In a market note, Mizuho raised its price target for Enliven Therapeutics Inc. (NASDAQ:ELVN) to $45 from $41 previously, while maintaining an “outperform” rating. The new price marked a 27 percent upside potential from its latest closing price.

Meanwhile, Clear Street reiterated its “buy” recommendation and $36 price target, a mere 1.3 percent upside, but reflected optimism for the $9 billion chronic myeloid leukemia (CML) therapy market.

The rally was further fueled by Merck’s acquisition of Enliven’s competitor, Terns Pharmaceuticals, for $6.7 billion, suggesting the former’s strong opportunity in the CML market.

For its part, Enliven Therapeutics Inc. (NASDAQ:ELVN) is underway with the early clinical study of its own CML treatment candidate called ELVN-001, with the third phase targeted for this year.

7. Intuitive Machines Inc. (NASDAQ:LUNR)

Intuitive Machines soared by 14.68 percent on Wednesday to close at $20.55 apiece after bagging home $180.4 million worth of new contracts from the National Aeronautics and Space Administration (NASA).

In a statement, Intuitive Machines Inc. (NASDAQ:LUNR) said that the amount would cover the delivery of seven science and technology payloads— including an Australian Space Agency lunar rover and technologies from Blue Origin’s Honeybee Robotics—to the Lunar South Pole Region.

Intuitive Machines Inc. (NASDAQ:LUNR) said that the award marked its fifth task order and the first to require the larger Nova-D lander cargo class.

“This CLPS award accelerates our expansion efforts as we build, connect, and operate the systems powering that infrastructure,” Intuitive Machines Inc. (NASDAQ:LUNR) CEO Steve Altemus said.

“We look forward to working closely with NASA to deliver mission success on IM-5 and to provide sustained operations and persistent connectivity in the cislunar environment and across the solar system,” he added.

The IM-5 mission will target Mons Malapert—a ridge near the Lunar South Pole that offers continuous Earth visibility, stable illumination conditions, and access to permanently shadowed regions.

The IM-5 lander will also carry the Honeybee Robotics next-generation lunar rover, which will host the NIRVSS instrument suite.

Honeybee Robotics, a Blue Origin company, develops advanced robotic systems, rovers, and mechanisms for missions to the Moon, Mars, and other planetary bodies. It may also provide other capabilities, such as sampling, sensing, robotics, and autonomy, that will enhance surface exploration.

6. Summit Therapeutics Inc. (NASDAQ:SMMT)

Summit Therapeutics climbed by 15.44 percent on Wednesday to close at $17.94 apiece, as investors repositioned portfolios ahead of updates on a clinical trial for its lung cancer treatment candidate, Ivonescimab.

Within the second quarter of the year, Summit Therapeutics Inc. (NASDAQ:SMMT) is targeting to conduct an early analysis of its Harmoni 3 trial for the squamous group to see the efficacy of Ivonescimab combined with chemotherapy in patients with first-line metastatic non-small cell lung cancer (NSCLC). Final data on the progression-free survival (PFS) is targeted in the second half of the year.

Meanwhile, enrollment is underway for the non-squamous group, and is targeted for completion in the second half of the year. Final PFS is expected in the first half of 2027.

Meanwhile, Summit Therapeutics Inc. (NASDAQ:SMMT) said that Ivonescimab is likewise being studied in a phase 3 trial to evaluate its efficacy in combination with ligufalimab—a proprietary anti-CD47 monoclonal antibody—against monotherapy pembrolizumab. The study aims to see the overall survival from the treatment.

In January this year, Summit Therapeutics Inc. (NASDAQ:SMMT) successfully submitted its biologics license application for Ivonescimab, in combination with chemotherapy, in patients with EGFR-mutated locally advanced or metastatic non-squamous NSCLC, who have received prior EGFR TKI therapy.

The Food and Drug Administration provided a Prescription Drug User Fee Act (PDUFA) goal action date of November 14, 2026.

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