Stocks finished mixed Wednesday as Federal Reserve Chairman Jerome Powell said a spike in inflation likely was temporary.
Here are some of the big movers in the stock market on Wednesday:
1. Entera Bio | Increase 45%
Shares of Entera Bio (ENTX) - Get Report soared after the biotech said the final six-month bone mineral density results from the completed Phase 2 clinical trial of its osteoporosis treatment met their primary and key secondary endpoints.
2. Under Armour | Increase 3.2%
Under Armour UA climbed after Cowen added the sports equipment company to its best ideas list while affirming a buy rating. The investment firm said the company could add more than 50% after shedding about 10% over the past three months. The company was the subject of numerous positive analyst notes last month.
3. Xpeng | Increase 4.1%
Shares of Xpeng (XPEV) - Get Report rose after the listing committee of the Hong Kong Stock Exchange approved the Chinese electric vehicle maker for a dual primary listing in the city. The company could raise as much as $2 billion in Hong Kong as soon as this year, Bloomberg reported. Last month, Xpeng posted stronger-than-expected first-quarter results.
4. GlaxoSmithKline | Increase 2%
GlaxoSmithKline (GSK) - Get Report shares rose after the drug titan said it would spin off its consumer division and likely slash its dividend 31%. The company said the separation of Consumer Healthcare is expected in mid-2022. GSK projects the dividend will total 80 pence ($1.12) this year and then slide to 55 pence (77 cents) next year.
5. Shoe Carnival | Increase 6.8%
Shoe Carnival (SCVL) - Get Report shares jumped after the footwear retailer declared a 2-for-1 stock split and offered positive 2021 guidance. The company said it expects net sales to exceed $1.15 billion and diluted net income per share to exceed $6 before the split.