The Dow Jones Industrial Average and the S&P 500 closed at record highs Wednesday as investors looked beyond concerns about the omicron variant.
Here are some of the big movers in the stock market on Wednesday:
1. Victoria's Secret | Increase 12.2%
Shares of Victoria's Secret (VSCO) - Get Victoria's Secret & Company Report powered higher after the women's intimate apparel company announced a $250 million accelerated share repurchase (ASR) agreement with Goldman Sachs to repurchase $250 million of the company’s common stock.
2. Calix | Increase 14.5%
Calix (CALX) - Get Calix, Inc. Report shares surged after the S&P Dow Jones Indices said it would add the cloud and software platform company to the S&P MidCap 400 Index effective Jan. 4. Calix is replacing CIT Group, which is being acquired by First Citizens BancShares (FCNCA) - Get First Citizens BancShares, Inc. Class A Report.
3. Micron Technology Increase 3.5%
Shares of Micron Technology (MU) - Get Micron Technology, Inc. Report jumped following reports that Samsung Electronics, its main rival in memory chip production, has suspended operations at a key factory in China amid an accelerating Covid outbreak. Samsung "temporarily adjusted' operations at a manufacturing facility in Xi'an.
4. Vaxcyte Increase 8%
Vaxcyte (PCVX) shares climbed after Jefferies analyst Roger Song assumed coverage of the biotech vaccine company with buy rating and a $50 price target. Last month Vaxctye posted a third-quarter net loss of $26.6 million for the three months ended Sept. 30, 2021 as compared with $21 million a year ago.
5. Deckers Increase 2%
Shares of Deckers Outdoor (DECK) - Get Deckers Outdoor Corporation Report continued to rise after Baird analyst Jonathan Komp recently reiterated his outperform rating and $525 price target on the apparel company. Komp said his estimates remain unchanged while expecting continued brand momentum for UGG and Hoka, diminishing supply risks, and other factors to support attractive growth into fiscal year 2023.