Stocks cut earlier losses Tuesday, but still finished lower after initially hitting records, as the number of coronavirus cases continued to climb.
Here are some of the big movers in the stock market on Wednesday:
1. Snap | Percentage Increase 6.2%
Snap Inc. (SNAP) - Get Report jumped after Goldman Sachs raised its price target on the parent of the photo-focused social-media company Snapchat to a Wall Street high. Analyst Heath Terry affirmed a buy rating on the stock and lifted his price target by $23 to $70 a share.
2. Barnes & Noble Education | Percentage Increase 6.5%
Barnes & Noble Education (BNED) - Get Report moved up as the college bookstore operator recently said that reducing payroll costs and operating expenses has helped the company’s financial results. In addition, CEO Mike Huseby told Yahoo Finance that the coronavirus vaccine "gives us hope to be optimistic."
3. U.S. Gold | Percentage Increase 5.4%
U.S. Gold Corp. (USAU) - Get Report climbed after the gold explorer and developer unveiled an intercept of higher-grade gold and copper mineralization from the core of the CK Gold deposit, located outside Cheyenne, Wyo.
4. Tenax Therapeutics | Percentage Increase 85%
Tenax Therapeutics (TENX) - Get Report advanced after H.C. Wainwright analyst Vernon Bernardino initiated coverage of the pharmaceutical company with a buy rating and $5 price target. The analyst said he sees potential for levosimendan to be the first approved treatment for pulmonary hypertension from heart failure with preserved ejection fraction.
5. Pitney Bowes | Percentage Increase 19%
Pitney Bowes (PBI) - Get Report surged after the business equipment company said that pricing adjustments implemented on its standard and cross border delivery services during the peak 2020 shipping season will be reinstated on Jan. 25 to account for unprecedented parcel volumes and covid-19-related operating expenses.