Arcadium Lithium, Norwegian Cruise Line, GitLab, Chewy And Other Big Stocks Moving Higher On Wednesday

Benzinga10-09

U.S. stocks were higher, with the Dow Jones index gaining around 0.2% on Wednesday.

Shares of Arcadium Lithium plc (NYSE:ALTM) rose sharply during Wednesday's session after the company announced it will be acquired by Rio Tinto.

Rio Tinto and Arcadium Lithium entered into a definitive agreement under which Rio Tinto will acquire Arcadium in an all-cash transaction for $5.85 per share, valuing the company at approximately $6.7 billion.

Arcadium Lithium shares jumped 30.5% to $5.54 on Wednesday.

Here are some other big stocks recording gains in today's session.

  • MicroCloud Hologram Inc. (NASDAQ:HOLO) shares surged 33.1% to $6.89.
  • Helen of Troy Limited (NASDAQ:HELE) gained 20.6% to $75.22 after the company reported better-than-expected second-quarter financial results.
  • Astera Labs, Inc. (NASDAQ:ALAB) shares jumped 15.7% to $61.31 after the company announced a new portfolio of fabric switches purpose-build for AI infrastructure at cloud-scale. Also, Morgan Stanley maintained an Overweight rating on the stock and raised its price target from $55 to $74.
  • Standard Lithium Ltd. (NYSE:SLI) surged 14.6% to $1.9788.
  • IDT Corporation (NYSE:IDT) gained 14.5% to $44.03.
  • Luminar Technologies, Inc. (NASDAQ:LAZR) climbed 10.7% to $0.9196.
  • Sigma Lithium Corporation (NASDAQ:SGML) rose 9.4% to $14.44.
  • Biomea Fusion, Inc. (NASDAQ:BMEA) surged 9.3% to $12.46. EF Hutton analyst Jason Kolbert initiated coverage on Biomea Fusion with a Buy rating and announced a price target of $128.
  • Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) gained 8.1% to $22.48. Citigroup analyst James Hardiman upgraded Norwegian Cruise Line from Neutral to Buy and raised the price target from $20 to $30.
  • Array Technologies, Inc. (NASDAQ:ARRY) rose 6.8% to $6.88.
  • Super Micro Computer, Inc. (NASDAQ:SMCI) climbed 5.4% to $47.80.
  • GitLab Inc. (NASDAQ:GTLB) gained 5.3% to $52.60. Morgan Stanley analyst Sanjit Singh initiated coverage on GitLab with an Overweight rating and announced a price target of $70.
  • Chewy, Inc. (NYSE:CHWY) rose 3.3% to $30.50. TD Cowen analyst Bill Kerr initiated coverage on Chewy with a Buy rating and announced a price target of $38.

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