Ten stocks soared higher on Wednesday, with some climbing to record highs, as investors took heart from a flurry of strong earnings and upbeat outlook, coupled with renewed hopes for the official end of the US-Iran war.
Wall Street’s three major indices all finished in the green, led by Nasdaq, up 2.02 percent, followed by the S&P 500, increasing 1.46 percent, and the Dow Jones growing 1.24 percent.
Indices aside, this article focuses on the 10 top-performing stocks on Wednesday, alongside the reasons behind their gains.
To come up with the list, we considered the stocks with a $2 billion market capitalization and 5 million shares in trading volume.
The New York Stock Exchange building. Photo by Дмитрий Трепольский on Pexels
10. Advanced Micro Devices Inc. (NASDAQ:AMD)
Advanced Micro Devices soared to a new all-time high on Wednesday, following the strong results of its earnings performance in the first quarter of the year, with profits nearly doubling, thanks to the rapidly growing artificial intelligence sector.
In intra-day trading, the stock climbed to its highest price of $430.57 before trimming gains to end the session just up by 18.61 percent at $421.39 apiece.
Advanced Micro Devices Inc. (NASDAQ:AMD) said that it raked in $1.383 billion in net income for the first quarter of the year, or a growth of 95 percent from the $709 million in the same period last year, primarily driven by the strong demand from AI infrastructure and data centers. Revenues, on the other hand, increased by 38 percent to $10.25 billion from $7.4 billion year-on-year.
“We delivered an outstanding first quarter, driven by accelerating demand for AI infrastructure, with Data Center now the primary driver of our revenue and earnings growth,” Advanced Micro Devices Inc. (NASDAQ:AMD) Chairman and CEO Lisa Su said.
“We are seeing strong momentum as inferencing and agentic AI drive increasing demand for high-performance CPUs and accelerators. Looking ahead, we expect server growth to accelerate meaningfully as we scale supply to meet demand. Customer engagement around MI450 Series and Helios is strengthening, with leading customer forecasts exceeding our initial expectations and a growing pipeline of large-scale deployments providing us with increasing visibility into our growth trajectory,” she noted.
For the second quarter of the year, Advanced Micro Devices Inc. (NASDAQ:AMD) is targeting to grow its revenues by 46 percent at the midpoint, to $11.2 billion, plus or minus $300 million.
At present, the company carries a “strong buy” rating from 35 Wall Street analysts.
9. Flywire Corp. (NASDAQ:FLYW)
Flywire jumped to a new 52-week high on Wednesday, as investors resumed buying positions following a strong earnings performance that pushed the company to profitability in the first quarter of the year.
At intra-day trade, the stock climbed to a record high of $17.78 before trimming gains to finish the session just up by 20.51 percent at $17.51 apiece.
In its earnings statement, Flywire Corp. (NASDAQ:FLYW) said that it swung to a net income of $12.5 million in the first quarter of the year from a net loss of $4.16 million in the same period last year.
Revenues, meanwhile, increased by 41 percent to $188.1 million from $133.5 million year-on-year, on the back of a 36.5 percent jump in total payment volumes and more than 200 new client wins during the period.
“We started 2026 with a strong first quarter—above expectations on revenue and adjusted EBITDA, with new client wins across all four verticals. The results reflect what we have been building toward: a durable, scalable business, diversified across verticals and geographies—and one that is increasingly resilient and increasingly profitable,” said Flywire Corp. (NASDAQ:FLYW) CEO Mike Massaro.
Looking ahead, the company is targeting growth of 18 to 24 percent in foreign exchange-neutral revenues, less ancillary services, for both the second quarter and the full-year 2026 periods.
Meanwhile, adjusted EBITDA margin is expected to grow by 175 to 375 basis points for 2026, and by up to 150 bps for the second quarter of the year.
8. Bitdeer Technologies Group (NASDAQ:BTDR)
Bitdeer Technologies rallied for a 5th straight session on Wednesday, climbing 20.99 percent to close at $15.10 apiece, as investors resumed buying positions ahead of the results of its earnings performance for the first quarter of the year.
In a notice to investors, Bitdeer Technologies Group (NASDAQ:BTDR) said that it is scheduled to report its financial and operating highlights before market open on Thursday, May 14, to be followed by a conference call to elaborate on the results.
The rally was supported by news earlier this month that March was a pivotal milestone for the company, driven by accelerating demand from AI customers, with its cloud business achieving approximately $43 million in annual recurring revenues, or 105 percent higher than in February.
“This momentum underscores both the scale of the market opportunity and our ability to execute effectively in delivering high-performance AI infrastructure,” Bitdeer Technologies Group (NASDAQ:BTDR) Chief Business Officer Matt Kong said.
“Looking ahead, we remain confident that demand for AI infrastructure will continue to grow. With our expanding capacity, proven execution, and clear strategic direction, we expect our AI cloud revenue to further accelerate in the coming months,” he noted.
AI aside, Bitdeer Technologies Group (NASDAQ:BTDR) self-mined 661 Bitcoins in March, an increase of approximately 480 percent year-on-year, thanks to a higher hash rate of around 70 EH/s.
7. Joby Aviation Inc. (NYSE:JOBY)
Joby Aviation snapped a two-day winning streak on Wednesday, soaring 21.20 percent to finish at $10.52 apiece, as investors took heart from its strong revenue performance in the first quarter, helped by an upbeat outlook for the full-year period.
In a letter to the shareholders, Joby Aviation Inc. (NYSE:JOBY) said that it raked in revenues of $24.2 million in the first quarter of the year, versus none in the same period last year.
Net loss widened by 33 percent to $109.9 million from $82.4 million in the same comparable period, primarily due to a $95 million increase in total operating expenses in line with its ongoing expansion.
Looking ahead, Joby Aviation Inc. (NYSE:JOBY) maintained its revenue growth outlook of 98 percent to 117 percent for full-year 2026, to a range of $105 million to $115 million, versus only $53 million last year, backed by announcements earlier in the year that it has been selected as a partner in multiple applications under the White House-backed Electric Vertical Takeoff and Landing (eVTOL) Integration Pilot Program (eIPP).
Through the program, Joby Aviation Inc. (NYSE:JOBY) has bagged an opportunity to begin early operations this year in Arizona, Florida, Idaho, New Jersey, New York, North Carolina, Oklahoma, Oregon, Texas, and Utah.
6. Geo Group Inc. (NYSE:GEO)
Geo Group snapped a two-day losing streak on Wednesday, jumping 20.92 percent to finish at $22.20 apiece, as investors cheered its strong earnings performance and highly optimistic outlook for full-year 2026.
In an updated report, Geo Group Inc. (NYSE:GEO) said that it grew its net income in the first quarter of the year by 96 percent to $38.3 million from only $19.5 million in the same period last year. Revenues increased by 16 percent to $705 million from $606.6 million year-on-year.
“We are very pleased with our first quarter results and improved full year outlook. Our strong performance has been driven by the new growth opportunities we captured in 2025 and are normalizing in 2026,” Geo Group Inc. (NYSE:GEO) Chairman and CEO George Zoley said.
For the full-year period, Geo Group Inc. (NYSE:GEO) raised its net income growth forecast to a range of $153 million to $166 million, versus the $132.5 million to $145.5 million previously. However, the figure remained lower by 34.7 to 39.8 percent versus the $257.49 million posted last year.
“Last year was the most successful period for new business wins in our company’s history, with new or expanded contracts representing up to $520 million in annualized revenues. We expect 2026 to be very active as well and therefore believe that we have upside potential across our diversified business segments,” Zoley said.
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