Stocks ended lower after Treasury Secretary Steven Mnuchin said reaching an agreement on a coronavirus stimulus package before Election Day would be difficult.
Here are some of the top stock gainers for Wednesday.
1. Allscripts Healthcare | Percentage Increase 31%
Allscripts Healthcare (MDRX) - Get Report shares jumped after the health information services company said it definitively agreed to sell its CarePort Health business to WellSky for $1.35 billion. The sale price reflects a 13-times multiple of CarePort's trailing-12-month revenue.
2. AnaptysBio | Percentage Increase 15%
AnaptysBio (ANAB) - Get Report climbed after announcing top-line data from an interim analysis of its Phase 2 clinical trial of imsidolimab for generalized pustular psoriasis. Truist analyst Joon Lee raised his price target on the shares to $20 from $16 while affirming a buy rating and Guggenheim's Yatin Suneja upgraded AnaptysBio to buy from neutral with a $36 price target.
3. Concho Resources | Percentage Increase 10%
Concho Resources (CXO) - Get Report jumped after Bloomberg reported the independent oil and gas company was in talks to be acquired by rival ConocoPhillips (COP) - Get Report. The companies may announce a deal in the next few weeks. No final decision has been made and talks could fall through.
4. Voxx International | Percentage Increase 31%
VOXX International (VOXX) - Get Report leaped after the consumer electronics company reported second-quarter revenue of $128 million, up from $90.2 million a year earlier. Chief Executive Pat Lavelle said that "we had a strong second quarter, both in terms of sales and profitability and our outlook looks promising."
5. Nio | Percentage Increase 23%
Nio (NIO) - Get Report shares jumped after J.P. Morgan analyst Nick Lai upgraded the Chinese electric-vehicle maker to overweight from neutral and nearly tripled his share-price target to a Wall-Street-high $40 from $14. Nio shares have more than quintupled year to date amid investor enthusiasm for electric vehicle stocks.