Ten stocks stood firmer on Wednesday, mimicking the rally on Wall Street, as investors took heart from a broader market optimism backed by renewed hopes for easing Middle East tensions.
Meanwhile, Wall Street’s major indices all finished in the green, led by Nasdaq soaring 1.16 percent, followed by the S&P 500, up 0.72 percent, and the Dow Jones, rallying 0.48 percent.
In this article, we spotlight the 10 top-performing companies on Wednesday and detail 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.
Stock market charts. Photo by Kaboompics.com on Pexels
10. Intel Corp. (NASDAQ:INTC)
Intel Corp. rallied for a second day on Wednesday, jumping 8.84 percent to finish at $48.03 apiece, as investors took heart from the $14.2 billion full takeover of its Fab 34 semiconductor facility in Ireland.
In a statement, Intel Corp. (NASDAQ:INTC) said that it would reacquire a 49 percent stake in Fab 34 from Apollo Global Management, reflecting its continued business momentum underpinned by the rapidly growing artificial intelligence industry.
It can be learned that Intel Corp. sold the said stake to Apollo in 2024 to raise more capital while preserving balance sheet strength that helped the chip manufacturer to unlock and redeploy capital to advance its strategic priorities.
“We thank Apollo for their ongoing partnership on our journey to build a world-class wafer fabrication and advanced packaging foundry anchored in trust, consistency, and execution,” Intel Corp. CFO David Zinsner said.
“Our 2024 agreement was the right structure at the right time and provided Intel with meaningful flexibility, enabling us to accelerate critical initiatives. Today, we have a stronger balance sheet, improved financial discipline and an evolved business strategy. We appreciate Apollo’s continued collaboration to reach this outcome as we realign our capital structure with our long-term strategy,” he noted.
The transaction is expected to be funded through a combination of cash on hand and debt of approximately $6.5 billion.
9. Lumentum Holdings Inc. (NASDAQ:LITE)
Lumentum Holdings rallied for a second day on Wednesday, jumping 8.81 percent to close at $764.65 apiece, as investors poured funds back into artificial intelligence stocks, supported by its planned manufacturing expansion in the US.
In a statement earlier, Lumentum Holdings Inc. (NASDAQ:LITE) said that it recently acquired a new 240,000-square-foot facility from chipmaker Qorvo, which it will redevelop for the production of its indium phosphide (InP)-based optical devices.
The facility is currently operational and was selected for its highly skilled workforce, robust infrastructure, and supportive federal and state economic development environment.
Part of the agreement includes the transfer of Qorvo’s workforce to Lumentum Holdings Inc..
Nvidia Corp. will also serve as a customer of the facility and help expand the US critical infrastructure and support research and development.
The facility is expected to ramp up production over the next two years.
“Our customers are building the infrastructure that will define the next era of computing,” said Lumentum Holdings Inc. CEO Michael Hurlston.
“Adding this new InP manufacturing facility significantly expands our capacity, deepens our strategic partnerships, and ensures we can deliver the performance, reliability, and scale required for the AI revolution,” he noted.
8. Micron Technology Inc. (NASDAQ:MU)
Micron Technology jumped by 8.94 percent on Wednesday to finish at $367.85 apiece, mirroring the broader market optimism and the surge in technology stocks.
In other news, Micron Technology Inc. (NASDAQ:MU) on the same day announced the expiration of cash tender offers for six of its senior notes series due between 2031 and 2035. The tender offer ended at 5 PM on March 31, 2026.
“As of the Expiration Time, the aggregate principal amount of each series of notes set forth in the table below has been validly tendered in the Tender Offers. Micron expects to accept for payment all notes validly tendered and not withdrawn and expects to make payment for such notes on April 3, 2026,” Micron Technology Inc. said.
Meanwhile, shareholders on record as of March 30, 2026, are set to receive $0.15 in cash dividends for every share held, payable on April 15.
The dividends followed the company’s stellar earnings performance in the second quarter of fiscal year 2026, with GAAP net income surging by 772 percent to $13.78 billion from $1.58 billion in the same period a year earlier. Revenues jumped by 196 percent to $23.86 billion from $8.05 billion year-on-year.
7. Sandisk Corp. (NASDAQ:SNDK)
Sandisk extended gains for a second day on Wednesday, surging 9.03 percent to close at $692.73 apiece, as investors loaded portfolios ahead of its next earnings outcome, with revenues expected to more than double.
In a notice to investors, Sandisk Corp. (NASDAQ:SNDK) said that it would announce its financial and operating highlights for the third quarter of fiscal year 2026 after market close on Thursday, April 30. A conference call will be held to discuss the results.
For the said period, Sandisk Corp. is expected to report $4.4 billion to $4.8 billion in revenues, or an implied growth of 159 percent to 182 percent from the $1.7 billion reported in the same quarter a year earlier.
Non-GAAP diluted net income per share is expected to be $12 to $14, or a reversal of the $0.30 loss per share a year earlier.
Gross margin, on the other hand, is projected at 64.9 percent to 66.9 percent.
Earnings aside, Sandisk Corp. earlier this year partnered with SK hynix for the standardization of High Bandwidth Flash, a next-generation memory solution designed for the AI inference era.
According to the company, the AI industry is now seen shifting from training, which focuses on creating Large Language Models (LLMs), to inference, which delivers actual AI services to users.
Unlike training, inference runs continuously as models generate answers and predictions across millions of devices, making workloads memory bandwidth and capacity hungry and increasingly power constrained.
6. Intuitive Machines Inc. (NASDAQ:LUNR)
Intuitive Machines grew its share prices by 9.05 percent on Wednesday to finish at $20.24 apiece, as investors continued to load up on shares after an investment firm reiterated its bullish outlook and the space firm’s bagging of a contract from the National Aeronautics and Space Administration (NASA).
In a market note, Cantor Fitzgerald reiterated its “overweight” rating on Intuitive Machines Inc. (NASDAQ:LUNR) alongside a price target of $26. The figure marked a 28 percent upside potential from its latest closing price.
The coverage followed the space company’s bagging of a $180.4 million contract from NASA for the delivery of seven payloads to the lunar surface, and would support increased understanding of the chemical composition and structure of regolith, as well as the radiation environment in and around the South Pole region.
The said award marks Intuitive Machines Inc.’s fifth Commercial Lunar Payload Services contract with NASA, which has delivered payloads to the Moon twice with their IM-1 and IM-2 missions.
“NASA continues to progress lunar science and exploration by enabling commercial lunar landings,” said Joel Kearns, deputy associate administrator for exploration, Science Mission Directorate, at NASA Headquarters in Washington
“These science and technology investigations aim to support long-term sustainability and contribute to a deeper understanding of the lunar surface, test technologies, and prepare for future human missions at the South Pole,” he added.
5. Planet Labs PBC (NYSE:PL)
Planet Labs saw its share prices jump by 9.87 percent on Wednesday to close at $30.71 apiece, amid increasing appetite for space stocks, backed by SpaceX’s looming initial public offering (IPO).
Planet Labs PBC (NYSE:PL) rallied alongside its counterparts, including Intuitive Machines Inc. and Firefly Aerospace Inc., following news that the Elon Musk-led company has lined up 21 banks for its mega IPO, potentially valuing the firm at $1.75 trillion.
SpaceX is attempting to raise more than $75 billion in what could be one of the largest IPOs in history.
In other news, Planet Labs PBC is gearing up for expansion in Germany after officially starting the recruitment of highly-skilled German talent to operationalize its upcoming satellite manufacturing facility in Berlin. The initiative forms 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.
Berlin has served as Planet Labs PBC’s 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 Chairman and CEO Will Marshall. 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.
4. Western Digital Corp. (NASDAQ:WDC)
Western Digital soared by 10.07 percent on Wednesday to close at $297.73 apiece, as investors began positioning portfolios ahead of the results of its earnings performance for the third quarter of fiscal year 2026.
Based on its historical earnings reporting dates, Western Digital Corp. (NASDAQ:WDC) would release its financial and operating highlights for the said period on April 30, 2026.
For the said period, Western Digital Corp. is expected to report $3.2 billion in revenues, plus or minus $100 million. If realized, this would mark a 40 percent jump from the $2.29 billion revenue registered in the same quarter a year earlier.
Gross margin is targeted at 47 percent to 48 percent, while diluted net income per share is pegged at $2.30, plus or minus $0.15.
In other news, Western Digital Corp. earlier this year re-launched its G-Drive brand as the unified identity for its content creator and creative professional external storage product portfolio.
The brand consolidation brings together high-capacity, high-performance storage solutions under a single name brand, G-DRIVE, known for its quality, performance, and reliability.
3. nCino Inc. (NASDAQ:NCNO)
nCino extended its winning streak to a third straight day on Wednesday, jumping 10.61 percent to finish at $16.57 apiece, as investors took heart from its growth outlook for fiscal year 2027.
In an updated report, nCino Inc. (NASDAQ:NCNO) said that it is targeting total revenues of $639 million to $643 million, or an implied growth of 22 percent to 22.9 percent from $523 million in fiscal year 2026.
Of the total, subscription revenues are expected to be at $569 million to $573 million, or growth of 8.8 percent to 9.5 percent versus $523.1 million year-on-year.
Meanwhile, non-GAAP operating income is targeted at $165 million to $170 million, while annual contract value is pegged at $662.5 million to $667.5 million.
In fiscal year 2026 ending January, nCino Inc. swung to an attributable net income of $5.18 million from a $37.88 million net loss a year earlier. Total revenues increased by 10 percent year-on-year from $540 million.
“Fiscal 2026 was a landmark year for nCino, with both the fourth quarter and full fiscal year marking company records for gross ACV bookings, and we again exceeded financial guidance across all revenue and profitability metrics,” said CEO Sean Desmond.
“Our success this year reflects strong global sales execution, accelerating demand for our industry-focused AI capabilities, and the confidence our customers place in nCino as their long-term technology partner,” he added.
In other news, nCino Inc. announced plans to buy back $100 million worth of its shares to boost shareholder value.
2. Constellium SE (NYSE:CSTM)
Constellium saw its share prices jump by 11.15 percent on Wednesday to finish at $27.32 apiece, as investors loaded portfolios in aluminum stocks on bets of supply shortage following an attack on two Middle Eastern producers earlier in the week.
Constellium rallied alongside its counterparts, namely Alcoa Corp. and Century Aluminum, as investors bet that a slash in global aluminum supply could spark higher prices, thus increasing profit margins for the producers.
According to data from Trading Economics, prices of aluminum on Wednesday further jumped by 2.75 percent to $3,523.80.
In other news, Constellium SE (NYSE:CSTM) last month authorized a $300 million share buyback program, which will become effective after May 21, 2026.
The new share repurchase program will replace the current share repurchase program authorized by the Board of Directors in February 2024, while Constellium SE retains the ability to repurchase shares under the current program until the new program takes effect.
Under this new share repurchase program, the company will be able to repurchase its own shares from time to time for cash in open market transactions or in privately-negotiated transactions.
1. Fastly Inc. (NASDAQ:FSLY)
Fastly soared to a new four-year high on Wednesday, as investors took heart from its appointment of a new executive to lead its global marketing efforts.
In a statement, Fastly Inc. (NASDAQ:FSLY) named Joan Jenkins as Chief Marketing Officer (CMO), tasked to help the company accelerate growth and further its leadership in security and edge computing, as well as scaling AI workloads.
In intra-day trading, Fastly Inc. climbed to a record high of $32.95 before trimming gains to finish the session just up by 11.36 percent at $32.36 apiece.
Jenkins boasts of more than two decades of leadership experience, accelerating growth and expanding market presence at critical inflection points for B2B technology companies. She has a strong background in building high-performing teams, driving category leadership, and accelerating growth, having held leadership positions at Informatica, Oracle, Mindtickle, and Cisco.
With extensive experience in AI-powered marketing and data-driven strategies, Jenkins’ leadership will focus on accelerating Fastly’s growth initiatives to expand its market reach and enhance its global brand, delivering outstanding value to customers and partners worldwide.
“Joan is an exceptional marketing leader with a proven track record of driving growth for some of the world’s most innovative technology companies,” said Fastly Inc. Kip Compton.
“Fastly’s modern edge platform is built for an internet increasingly defined by AI, performance, and security. I’m confident Joan’s vision will help accelerate our momentum as we bring Fastly to more customers worldwide,” he noted.
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