Ten stocks stood their ground on Wednesday, bucking a lackluster trading on the broader market, as investors took path from a series of company developments, including mergers and acquisitions, and earnings, among others.
On Wall Street, only the Dow Jones and the S&P 500 finished in the green, up 0.68 percent and 0.06 percent, respectively. The tech-heavy Nasdaq dropped by 0.26 percent.
Indices aside, we name the 10 outperforming stocks on Wednesday and detail the reasons behind their gains.
To come up with the list, we considered only the stocks with a $2 billion market capitalization and more than 5 million shares in trading volume.
Photo by Tima Miroshnichenko on Pexels
10. Venture Global Inc. (NYSE:VG)
Venture Global bounced back by 7.86 percent on Wednesday to close at $8.12 after bagging two long-term supply agreements with international companies this week.
In a statement on the same day, Venture Global Inc. (NYSE:VG) said it entered into a 20-year agreement with Japan-based Mitsui & Co. Ltd. for the supply of 1 million tons of LNG per annum over the next 20 years.
The deal will officially begin in 2029 and marks Venture Global Inc.’s (NYSE:VG) third long-term contract with a Japanese firm.
Earlier this week, the company also secured a separate 20-year agreement with Spain-based Naturgy for an LNG supply deal beginning in 2030. The agreement represents its first long-term deal with a Spanish firm since its first contract in 2018.
According to Venture Global Inc. (NYSE:VG) CEO Mike Sabel, the deals reflect the continued confidence of its customers in the company and the robust demand for LNG globally.
“Venture Global remains committed to meeting that demand with flexible, fast, affordable, and dependable long-term supply,” he added.
With the two new agreements, the company’s long-term value contracts now stand at a total of 6.75 million tons per annum.
9. Cleveland-Cliffs Inc. (NYSE:CLF)
Cleveland-Cliffs ended two straight days of losses on Wednesday, jumping 8.14 percent to close at $11.03 apiece as investors welcomed the addition of a key leader from a global advisory firm executive to its board of directors.
In a statement, Cleveland-Cliffs Inc. (NYSE:CLF) said it appointed Edilson Camara to its Board of Directors, effective immediately. He will serve on the Board’s Compensation and Organization Committee to support the company’s talent, governance, and global industrial strategy.
Camara is currently the CEO Emeritus of Egon Zehnder, a top global executive search and leadership advisory firm, and a senior partner in the firm’s industrial practice group.
“Ed’s global industrial perspective and deep experience in senior leadership and talent frameworks align exceptionally well with Cleveland-Cliffs’ strategic priorities,” said Cleveland-Cliffs Inc. (NYSE:CLF) Chairman, President, and CEO Lourenco Goncalves.
“His ability to navigate complex industrial environments and develop high-performing leadership teams will be a tremendous asset to our Board and our shareholders,” he added.
8. Plug Power Inc. (NASDAQ:PLUG)
Plug Power bounced back from a two-day loss on Wednesday, surging 7.91 percent to close at $2.73 apiece as investors took heart from a strong demand for its fuel cell business.
This followed the company’s earnings release on Wednesday, where it announced a 1.9 percent revenue growth to $177 million from $173.7 million in the same period last year.
The company said growth was driven by continued strength in its electrolyzer business, hydrogen fuel sales, and other businesses, and continued pricing enhancements. GenEco electrolyzer revenue totaled $65 million for the quarter, marking a 13 percent increase year-on-year.
However, Plug Power Inc. (NASDAQ:PLUG) remained at a 72 percent higher net loss during the quarter, $363.5 million versus $211.17 million in the same period last year, pulled down by higher operating loss and expenses.
Looking ahead, Plug Power Inc. (NASDAQ:PLUG) said it would continue to prioritize growth in its material handling and hydrogen fuel businesses on optimism that it would strengthen its near-term performance and position the company to scale into new markets, such as large-scale stationary power and mobility, in the future.
“Plug continues to execute, follow through on its commitments, and prove the viability of hydrogen at scale,” said outgoing CEO Andy Marsh. “We’re seeing real adoption, real projects, and real performance, and we’re still only getting started.”
It can be recalled that Marsh earlier this year announced plans to step down from his post in 2026. He will be replaced by Jose Luis Crespo, who is currently president and chief revenue officer of the company.
7. Advanced Micro Devices Inc. (NASDAQ:AMD)
Advanced Micro Devices jumped by 9 percent on Wednesday to end at $258.89 apiece as investor sentiment was fueled by its new long-term strategy aimed to gain a stronger foothold in the $1 trillion compute market.
In a statement on the same day, Advanced Micro Devices Inc. (NASDAQ:AMD) said it is targeting to achieve more than 35 percent in revenue compound annual growth rate (CAGR); over 35 percent growth in non-GAAP operating margin; and at least $20 in non-GAAP earnings per share.
Across its businesses, it expects CAGR for the data center segment to grow by more than 60 percent, while its embedded and client, and gaming businesses are expected to grow by more than 10 percent.
“AMD is entering a new era of growth fueled by our leadership technology roadmaps and accelerating AI momentum,” said Advanced Micro Devices Inc. (NASDAQ:AMD) Chairman and CEO Lisa Su. “With the broadest portfolio of products and our deepening strategic partnerships, AMD is uniquely positioned to lead the next generation of high-performance and AI computing. We see a tremendous opportunity ahead to deliver sustainable, industry-leading growth. We have never been better positioned.”
In the third quarter of the year, Advanced Micro Devices Inc. (NASDAQ:AMD) saw net income jump by 61 percent to $1.243 billion from $771 million in the same period last year, while revenues increased by 35.5 percent to $9.246 billion from $6.819 billion year-on-year.
6. Opendoor Technologies Inc. (NASDAQ:OPEN)
Opendoor Technologies extended its winning streak to a third straight day on Wednesday, soaring 10.50 percent to close at $9.37 apiece as investors mirrored a key executive’s acquisition of shares ahead of an upcoming dividend payment.
Opendoor Technologies Inc. (NASDAQ:OPEN) told the Securities and Exchange Commission on the same day that its CEO, Kasra Nejatian, acquired 125,000 common shares at a price of $8.0365 apiece for a total of $1.004 million.
The acquisition followed earlier announcements that the company would pay on November 21 warrant dividends to common shareholders as of the November 18 record date.
Under the terms, each investor holding 30 common shares of Opendoor Technologies Inc. (NASDAQ:OPEN) would receive one each of Series K, A, and Z warrants, exercisable at prices of $9, $13, and $17, respectively. The new warrants will be listed on the stock exchange under the symbols OPENW, OPENL, and OPENZ, subject to shareholder approval.
The warrants are set to expire on November 20, 2026, unless earlier converted into shares.
Also earlier this week, Opendoor Technologies Inc. (NASDAQ:OPEN) announced the results of its earnings performance in the third quarter of the year, with revenues of $915 million, a decline of 33 percent from the $1.377 billion in the same period last year, but exceeded its earlier guidance of $800 million to $875 million.
Net loss, on the other hand, widened by 15 percent to $90 million from $78 million in the same comparable period, amid a 37 percent lower gross profit.
5. BILL Holdings, Inc. (NYSE:BILL)
BILL Holdings soared by 11.49 percent on Wednesday to close at $51.92 apiece as investors gobbled up shares following reports that it is exploring a sale.
Bloomberg reported on the same day, citing sources privy to the matter, that BILL Holdings, Inc. (NYSE:BILL) agreed to Starboard Value LP’s recommendation for a sale, and that it is now working with a financial adviser to solicit interests from larger rivals. However, the plan is not guaranteed as it could opt to remain independent. The sale was said to be triggered by lower customer spending and cutthroat competition.
In the first quarter of fiscal year 2026, BILL Holdings, Inc. (NYSE:BILL) swung to a net loss of $2.96 million from a $8.9 million net income in the same period last year. Total revenues, however, increased by 10 percent to $395.7 million from $358.45 million year-on-year.
For the second quarter ending December 2025, the company expects net income of $62.5 million to $66.5 million; and revenues between $394.5 million and $404.5 million, or an implied growth of 9 to 12 percent.
For the full-year period, revenues are targeted to grow between 9 and 11 percent to a range of $1.596 billion to $1.626 billion, while net income is projected at $249 million to $265 million.
4. Baytex Energy Corp. (NYSE:BTE)
Baytex Energy extended its winning streak to a 6th straight day on Wednesday to hit a nearly one-year high, as investors took heart from its US business exit with the divestment of its assets for $2.3 billion.
During the trading session, the stock soared to its highest price of $3.10 before paring gains to end the day just up by 13.48 percent at $3.03 apiece.
In a statement, Baytex Energy Corp. (NYSE:BTE) said it signed a definitive agreement with an undisclosed buyer for the sale of US Eagle Ford assets, as it aims to focus on the more robust Canadian market.
”Consistent with our disciplined approach to portfolio management, we continually review our asset base to maximize long-term value. Monetizing our US Eagle Ford assets strengthens our balance sheet, supports capital allocation to our highest-return opportunities and positions us to deliver meaningful shareholder returns,” Baytex Energy Corp. (NYSE:BTE) President and CEO Eric Greager said.
The transaction is targeted to be completed in late 2025 or early 2026, subject to closing conditions and regulatory approvals.
Baytex Energy Corp. (NYSE:BTE) said that it would return to a net cash position upon the deal’s closing, with a portion of the proceeds to be used to repay its outstanding credit facilities and notes due 2030.
3. Centessa Pharmaceuticals plc (NASDAQ:CNTA)
Centessa soared to a new all-time high on Wednesday, as investors took path from a planned fundraising program which could rake in as much as $287.5 million in fresh funds.
In a statement, Centessa Pharmaceuticals plc (NASDAQ:CNTA) said it plans to issue more than 11.6 million new American depositary shares (ADS) at a price of $21.50 apiece. Each ADS represents one ordinary share.
In line with the offer, Centessa Pharmaceuticals plc (NASDAQ:CNTA) granted its underwriters a 30-day option to purchase an additional 1,744,186 ADS at the said price.
The offer is expected to close on Friday, November 14, subject to closing conditions.
The plan followed its financial and operating highlights for the third quarter of the year, where it widened its net loss by 29 percent to $54.89 million from $42.57 million in the same period last year, on the back of a higher operating loss, which jumped by 15.9 percent to $53.79 million from $46.4 million year-on-year.
Operating loss was pulled down by higher operating expenses from its research and development initiatives.
2. On Holding AG (NYSE:ONON)
On Holding saw its share prices jump by 18 percent on Wednesday to close at $41.51 apiece following a stellar earnings performance in the third quarter of the year.
In an updated report, On Holding AG (NYSE:ONON) said it grew its net income by 290 percent to 118.9 million Swiss francs from only 30.5 million Swiss francs in the same period last year.
Net sales jumped by 25 percent to 794.4 million Swiss francs from 635.8 million Swiss francs year-on-year, on the back of strong performance across both direct-to-consumer and wholesale channels, which grew by 27.6 percent and 23.3 percent, respectively.
“Building on a year defined by strategic focus and outstanding execution, On looks ahead with strong confidence. Brand momentum remains exceptionally high, fueled in recent weeks by remarkable athlete achievements, cultural moments elevating On globally, and the launch of its inspiring holiday campaign. Reflecting the strength of its third-quarter performance and sustained momentum, On is raising its full-year 2025 guidance across all key metrics,” On Holding AG (NYSE:ONON) said.
Net sales are now targeted to grow by 34 percent year-on-year, higher than the 31 percent outlook previously; Gross profit margin is expected to jump by 62.5 percent, as compared with the prior target of 60.5 percent to 61 percent; while adjusted EBITDA margin is projected to grow by 18 percent, versus 17 to 17.5 percent prior.
1. BigBear.ai Holdings, Inc. (NYSE:BBAI)
BigBear AI extended its winning streak to a fourth straight day on Wednesday, jumping 18.32 percent to close at $7.17 apiece after swinging to profitability in the third quarter and announcing plans to ramp up artificial intelligence adoption with the acquisition of a new company.
In a statement, BigBear.ai Holdings, Inc. (NYSE:BBAI) said it swung to a net income of $2.5 million in the third quarter of the year, reversing a net loss of $15 million in the same period last year, amid $26.1 million non-cash changes in derivative liabilities associated with changes in the fair value of the convertible features of the 2029 Notes and warrants.
Revenues, however, dropped by 20 percent to $33.14 million from $41.5 million year-on-year, primarily due to lower volume on certain Army programs.
For the full-year period, BigBear.ai Holdings, Inc. (NYSE:BBAI) reaffirmed its outlook of $125 million to $140 million in revenues.
In other developments, BigBear.ai Holdings, Inc. (NYSE:BBAI) announced plans to acquire Ask Sage, a generative AI platform designed specifically for defense and national security agencies and other highly-regulated sectors, for $250 million.
The new platform is expected to deliver non-GAAP annual recurring revenues of approximately $25 million this year.
“Ask Sage already supports more than 100,000 users on 16,000 government teams and across hundreds of commercial companies. It is a turnkey platform that’s in production today, at scale, in the environments that matter most,” said CEO Kevin McAleenan.
While we acknowledge the potential of BBAI to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BBAI and that has 100x upside potential, check out our report about the cheapest AI stock.
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