Here are some of the market's biggest gainers for Wednesday:
1. Welbilt | Increase 44%
Welbilt (WBT) - Get Report surged after the producer of kitchen and restaurant equipment agreed to be acquired by peer Middleby (MIDD) - Get Report for $2.9 billion of stock. New York investor Carl Icahn, who is Welbilt's top shareholder with 8.4%, supports the takeover, the companies said.
2. Norwegian Cruise Line | Increase 10%
Shares of Norwegian Cruise Line (NCLH) - Get Report moved up after Goldman Sachs upgraded the company to buy from neutral and raised its one-year price target to $37 amid what the firm sees as a strong post-pandemic rebound in demand. Other cruise lines also gained on the upgrade.
3. Dish Network | Increase 11%
Dish Network (DISH) - Get Report climbed after the pay-television provider said it selected Amazon's (AMZN) - Get Report Amazon Web Services as its preferred cloud provider and will construct its 5G network on AWS.
4. CSX | Increase 4.3%
CSX (CSX) - Get Report climbed after analysts raised their price targets for the railroad company. BMO Capital analyst Fadi Chamoun upgraded CSX to outperform from market perform with a price target of $110, up from $95, saying CSX is a "desirable" takeover target in a transcontinental merger. The company on Tuesday reported weaker-than-expected profit for the first quarter.
5. Inter Parfums | Increase 7.7%
Shares of Inter Parfums (IPAR) - Get Report rose after the fragrance company said first-quarter net sales rose 37% to $198.5 million. The company raised its full-year guidance and now expects 2021 net sales to be nearly $700 million, while net income is expected to be $1.65 per share.