The stock market showed resilience on Wednesday, with all major indices ending in the green territory anew, as investors weighed news of President Donald Trump’s imposition of a new round of tariffs while digesting minutes of the Federal Reserve.
The Dow Jones rose by 0.16 percent, the S&P 500 increased by 0.24 percent, while the tech-heavy Nasdaq eked out a 0.07 percent gain.
Despite the news, ten companies managed to stand out, posting modest gains during the trading session.
To come up with Wednesday’s top performers, we considered only the stocks with more than $1.9 billion in market capitalization and $5 million in daily trading volume.
Note that some stocks we have covered in-depth over the past few days have been excluded from this list.
Stock market data on a laptop screen. Photo by Alesia Kozik on Pexels
10. Devon Energy Corporation (NYSE:DVN)
Shares of Devon Energy Corporation (NYSE:DVN) rallied for a fourth straight day on Wednesday, adding 7.71 percent to close at $37.57 apiece as investor sentiment was fueled by better-than-expected earnings performance last year.
During the fourth quarter, DVN achieved earnings per share (EPS) of $1.16, on core earnings of $756 million, higher by 16 percent than the $1 as expected by analysts. For full-year 2024, EPS stood at $4.82 on core earnings of $3.1 billion.
DVN owed its strong performance to solid results from its diversified, multi-basin portfolio and record-breaking oil production of 398,000 barrels per day which exceeded guidance by 3 percent.
Total companywide production for the quarter averaged 848,000 oil-equivalent barrels per day, representing a 16-percent jump from the previous quarter.
DVN is set to transition to a new leadership come March 1, with the appointment of Clay Gaspar as the new president and CEO, replacing Rick Muncrief who is set to retire.
9. D-Wave Quantum Inc. (NYSE:QBTS)
D-Wave Quantum Inc. (NYSE:QBTS) saw its share prices increase by 8.28 percent on Wednesday to close at $6.54 apiece as investors bought up on news that it developed, along with Staque Solutions, a commercial hybrid-quantum application that would help accelerate computing solutions for agricultural decision-makers to enhance agri robotics, farming sustainability, planning for ever-changing conditions, and most importantly, perk up crop production.
With the use of quantum technology, decision-making in agriculture is expected to transform, innovate, and replace traditional computation methods which typically take days to weeks.
“This strategic partnership with D-Wave will allow us to provide annealing quantum computing solutions with the speed and accuracy that is important for the agriculture industry,” said Staque COO Krishna Ganesh.
The companies said they expect quantum-optimized solutions to increase crop production, drive efficiencies, and lower farming costs.
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