Wall Street roared higher on Wednesday, with all major indices finishing in the green territory, as investor sentiment was buoyed by US President Donald Trump’s agreed trade deal with Japan.
The Dow Jones led the rally among the major indices, jumping 1.14 percent, followed by the S&P 500 at 0.78 percent, and the tech-heavy Nasdaq at 0.61 percent.
Optimism spilled over to individual stocks, with 10 companies notable for their outperformance during the session. In this article, we highlight the names of the 10 biggest performers boasting double-digit gains and break down the reasons that sparked buying appetite.
To compile the list, we focused exclusively on stocks with at least $2 billion in market capitalization and over 5 million shares in trading volume.
10. Stellantis NV (NYSE:STLA)
Stellantis NV saw its share prices jump by 11.54 percent on Wednesday to close at $10.34 apiece as investors took heart from efforts between the US and the European Union to work towards a 15-percent tariff deal.
The rate, which could be extended to cars manufactured within member countries, would mirror the newly agreed trade agreement between the US and Japan, and help reduce cost pressures on European carmakers, including the company.
Wednesday’s rally suggested that investors shunned Stellantis NV’s (NYSE:STLA) announcement earlier in the day that it was expected to swing to a net loss in the second quarter of the year amid the impact of previously imposed tariffs on European cars.
In its preliminary results, Stellantis NV (NYSE:STLA) said it expects to book 2.3 billion euros in net loss in the first half of the year, while net revenues are projected to settle at 74.3 billion euros.
Official results will be released on July 29, 2025, alongside an investor call to elaborate on its financial highlights and business outlook.
9. Baker Hughes Company (NASDAQ:BKR)
Baker Hughes extended its winning streak to a fifth consecutive day on Wednesday, adding 11.64 percent to close at $44.68 apiece as investor sentiment was bolstered by its impressive earnings performance in the second quarter of the year.
In its earnings release, Baker Hughes Company (NASDAQ:BKR) said attributable net income increased by 21 percent to $701 million from $579 million in the same period last year, pushing its six-month attributable profit up by 6.8 percent to $1.1 billion from $1.03 billion year-on-year.
Revenues, on the other hand, dipped by 2.8 percent to $6.9 billion from $7.1 billion during the quarter, and by 1.5 percent to $13.3 billion from $13.5 billion in the six-month period.
According to Baker Hughes Company (NASDAQ:BKR), the performance reflected the benefits of structural cost improvements and continued deployment of business systems that are driving higher productivity, stronger operating leverage, and more durable earnings across the company.
Part of the strong performance is also attributed to the strong demand for energy from data centers.
8. Pegasystems Inc. (NASDAQ:PEGA)
Pegasystems closed higher on Wednesday to hit a new all-time high as investors cheered its impressive earnings performance in the second quarter of the year.
At intra-day trading, Pegasystems Inc. (NASDAQ:PEGA) jumped to as high as $58.04 before paring gains to end the day just up at $58.01.
In the second quarter, the company achieved a 355 percent expansion in net income at $30 million from only $6.6 million in the same period last year, while revenues jumped by 9 percent to $384 million from $351 million year-on-year.
Pegasystems Inc. (NASDAQ:PEGA) founder and CEO Alan Trefler attributed the growth to the company’s AI approach, saying that its Predictable AI approach “gives enterprises both the innovation they crave and the operational consistency they require.”
Following the announcement, investment firm Barclays raised its price target for Pegasystems Inc. (NASDAQ:PEGA) to $58 from $50 previously, while maintaining an “equal weight” rating for its stock.
7. GE Vernova Inc. (NYSE:GEV)
GE Vernova surged to a new all-time high on Wednesday as investors cheered its higher revenue outlook for the year amid a strong earnings performance in the first half.
At intra-day trading, GE Vernova Inc. (NYSE:GEV) jumped to a new 52-week high of $633.72 before paring gains to finish the day at $629.03 apiece, bolstered by its revenue outlook upgrade for the full year to between $36 billion and $37 billion—or the high-end range of its previous guidance.
Adjusted EBITDA margin was also expected to grow between 8 and 9 percent at high single digits.
In the second quarter of the year, GE Vernova Inc. (NYSE:GEV) posted an 11-percent increase in revenues at $9.1 billion versus $8.2 billion in the same period last year, pushing its six-month revenue higher by 11 percent to $17.1 billion from $15.46 billion.
Net income for the quarter, however, dropped by 61 percent to only $492 million from $1.28 billion year-on-year, while net profit for the first half dropped by 35.6 percent to $756 million from $1.174 billion year-on-year.
6. D-Wave Quantum Inc. (NYSE:QBTS)
D-Wave snapped a three-day losing streak on Wednesday, jumping 15.41 percent to close at $20.30 apiece following two investment firms’ bullish ratings and price target upgrades for the company.
In its market note, Canaccord gave D-Wave Quantum Inc. (NYSE:QBTS) a “buy” recommendation with a price target of $20 apiece.
Shortly after, investment firm B. Riley echoed the view, giving the quantum stock a “buy” recommendation but with a higher price target of $22 apiece, despite expecting to report $2 million in revenues and lower earnings per share of $0.07 for the current quarter, as against the consensus $2.54 million and $0.08 per share.
Last week, D-Wave Quantum Inc. (NYSE:QBTS) also received a bullish comment from Mad Money host and former hedge fund manager Jim Cramer, advising a caller to own shares in the company.
“[In just] one headline, one little story, that stock goes up 10 more points…and D-Wave has the ability to do that because it is actually a real company,” he said.
5. Hims & Hers Health, Inc. (NYSE:HIMS)
Hims & Hers rallied for a second day on Wednesday, adding 16.02 percent to close at $58.02 apiece as investors took path from an investment firm’s bullish outlook and rating for the company.
In a market note on Wednesday, Zacks Research gave Hims & Hers Health, Inc. (NYSE:HIMS) a “strong buy” recommendation on expectations that its 2025 earnings per share will improve by 177.8 percent year-on-year.
Zacks also underscored Hims & Hers Health, Inc.’s (NYSE:HIMS) expansion program with the recent acquisition of ZAVA, a European digital health platform operating in the UK, Germany, France, and Ireland.
“This acquisition, announced in June 2025, grants Hims & Hers access to over 1.3 million active customers and nearly 2.3 million consultations delivered in 2024 by ZAVA’s in-house medical team,” Zacks noted.
“The integration of ZAVA’s technology with Hims & Hers’ established brand positions it to deliver personalized, seamless digital healthcare across key European markets,” it added.
According to Hims & Hers Health, Inc. (NYSE:HIMS), it is scheduled to announce the results of its April-June earnings performance after market close on August 4.
4. Lamb Weston Holdings, Inc. (NYSE:LW)
Lamb Weston soared by 16.31 percent on Wednesday to close at $57.19 apiece as investors cheered its higher revenue outlook for fiscal year 2026 alongside cost-saving measures to improve profitability and cash flow.
In a statement, Lamb Weston Holdings, Inc. (NYSE:LW) said that it was targeting to achieve net sales between $6.35 billion and $6.55 billion in fiscal year 2026, or a 1.5 percent increase year-on-year.
Additionally, it would implement cost-saving measures to save the company as much as $250 million, including $200 million in annualized run rate savings, and $120 million of favorable working capital improvements by year-end fiscal 2027.
Lamb Weston Holdings, Inc. (NYSE:LW) said that part of the measures will include the layoff of some 4 percent of its total workforce and the elimination of unfilled positions.
In the fourth quarter of fiscal year 2025, Lamb Weston Holdings, Inc. (NYSE:LW) dropped its net income by 7.5 percent to $119.9 million from $129.6 million in the same period last year. Net sales, on the other hand, inched up by 4 percent to $1.675 billion from $1.611 billion year-on-year.
For the full-year period, net income declined by 50.76 percent to $357.2 million from $725.5 million, while net sales ended flat at $6.4 billion.
3. Liberty Energy Inc. (NYSE:LBRT)
Liberty Energy soared by 17.78 percent on Wednesday to close at $13.25 apiece as investors took heart from its newly clinched partnership with Oklo Inc. (NYSE:OKLO) to support energy development and strong demand in the US.
In a joint statement, Liberty Energy Inc. (NYSE:LBRT) said it partnered with Oklo to accelerate integrated power solutions for large-scale, high-demand customers, including data centers, industrial facilities, and utility-scale sites.
Under the agreement, Liberty Energy Inc.’s (NYSE:LBRT) natural gas power generation and load management solution will provide initial reliable primary power and flexible energy services, along with future grid management services focused on optimization and resiliency. As Oklo’s Aurora powerhouses come online, they will be integrated to provide clean, continuous baseload energy, complementing its partner’s natural gas power.
“Our strategic alliance with Oklo advances a power strategy aimed at accelerating deployment for sophisticated, large load customers. This innovative approach redefines how today’s most energy-intensive industries can scale efficiently with cost-effective, next-generation power solutions, combining rapid deployment, intelligent load management, and integrated grid management,” said Liberty Energy Inc. (NYSE:LBRT) CEO Ron Gusek.
2. Intuitive Machines, Inc. (NASDAQ:LUNR)
Intuitive Machines soared by 18.53 percent on Wednesday to end at $13.37 apiece as investors took path from an investment firm’s bullish coverage for the company.
In a market note, investment bank Craig-Hallum gave a “buy” recommendation on shares of Intuitive Machines, Inc. (NASDAQ:LUNR) with a price target of $17. The new figure marked a 27-percent upside from its latest closing price.
According to Craig-Hallum, Intuitive Machines, Inc. (NASDAQ:LUNR) stands to benefit from the aggressive space race between the United States and China, both of which are targeting to again land humans on the moon by 2030.
In other news, Intuitive Machines, Inc.’s (NASDAQ:LUNR) inked a deal with Space Forge for the integration of the latter’s semiconductors into its orbital return platform, Zephyr, to support its Earth reentry program. The program is backed by the Texas Space Commission’s Space Exploration and Research Fund.
Intuitive Machines, Inc. (NASDAQ:LUNR) is scheduled to release the results of its second quarter earnings performance before market open on August 7.
1. ABIVAX Société Anonyme (NASDAQ:ABVX)
ABIVAX soared by a whopping 586 percent on Wednesday to hit a new high, as investors gobbled up shares following bullish analyst outlooks and impressive performance from the phase 3 trial of its ulcerative colitis treatment candidate.
In a market note, investment bank Morgan Stanley raised its price target for ABIVAX Société Anonyme (NASDAQ:ABVX) to $71 from $12 previously, a whopping 492-percent increase, while upgrading its stock rating to “overweight” from “equal weight” prior.
The optimism was based on ABIVAX Société Anonyme’s (NASDAQ:ABVX) announcement on the same day exceeding analyst expectations for the third phase of its ABTECT program, which showed a clinical remission of 16.4 percent for the 50mg dose, versus the 15 percent as anticipated by market experts.
For its part, LifeSci Capital also gave the company a $101 price target, or a 124-percent increase from its previous target of $45. It maintained an “outperform” rating on the stock.
ABIVAX Société Anonyme (NASDAQ:ABVX) also earned bullish ratings and price target upgrades from other investment firms, namely Guggenheim, JMP, Leerink, and Piper Sandler, among others.
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