U.S. markets delivered a split decision Wednesday, with the Nasdaq Composite pushing higher by more than 100 points even as other indices struggled for direction.
The star performer of the session was Dycom Industries, Inc. (DY), which rocketed higher after delivering record third-quarter results, raising its forward outlook, and announcing a major acquisition. Contract revenues climbed 14.1% year over year to $1.45 billion, topping analyst expectations of $1.41 billion. Adjusted earnings per share came in at $3.63, well ahead of the $3.20 consensus estimate.
Dycom Industries shares jumped 8.1% to $320.17 on Wednesday.
Several other stocks posted impressive gains during the trading session:
- PACS Group, Inc. (PACS) shares gained 11.1% to $16.03.
- TransMedics Group, Inc. (TMDX) rose 10.4% to $129.27.
- MP Materials Corp. (MP) shares jumped 9.3% to $63.95 after Goldman Sachs initiated coverage with a Buy rating and a $77 price target.
- BellRing Brands, Inc. (BRBR) surged 9.1% to $28.64 after the company reported mixed fourth-quarter financial results and issued FY26 sales guidance below estimates.
- Hinge Health, Inc. (HNGE) gained 8.2% to $43.93. Hinge Health announced a $250 million share repurchase program.
- Kyivstar Group Ltd. (KYIV) rose 7.6% to $12.06.
- Lumentum Holdings Inc. (LITE) gained 7.2% to $265.33 after Mizuho Securities initiated coverage on the stock with an Outperform rating and set a price target at $290.
