Stocks finished lower Wednesday but cut loses late in the session after some members of the Federal Reserve indicated they are open to discussing the scaling back of asset purchases "at some point" if the economy improves rapidly.
Here are some of the market's biggest gainers for Wednesday:
1. Target | Increase 6.1%
Target (TGT) rose after the retailer posted stronger-than-expected first-quarter earnings and said profit margins will likely widen over the rest of the year. Revenue totaled $24.2 billion, up 23% from a year earlier. Same-store sales rose 18%, with overall comparable sales, including digital channels, rising 22.9%.
2. Take-Two Interactive | Increase 7%
Shares of Take-Two Interactive Software (TTWO) climbed after the videogame publisher's latest earnings beat expectations on pandemic-driven demand in the quarter. Fourth-quarter revenue climbed 10% to $839.4 million.
3. Salesforce | Increase 3.3%
Salesforce (CRM) ended higher after the sales-tracking software giant received an upgrade from Morgan Stanley analyst Keith Weiss, who sees the company’s longer-term risk-reward potential as more favorable. Weiss kept his one-year price target at $270 and said the stock's recent pullback “creates a good entry point.”
4. Reata Pharmaceuticals | Increase 23.8%
Shares of Reata Pharmaceuticals (RETA) leaped after the biopharma said government regulators had asked for a preliminary application meeting -- in lieu of a more general type of meeting -- to discuss the company's treatment for a neuromuscular disorder.
5. Trip.com Group | Increase 4%
Trip.com Group (TCOM) advanced after the Shanghai travel services company posted first-quarter earnings that beat Wall Street's expectations. The company reported net income of $273 million, swinging from a loss in the year-earlier period. Revenue totaled $628 million.