Stocks finished higher Wednesday Wall Street recovered from the previous sessions' tech-led losses.
Many analysts said the declines, particularly in the tech sector, were long overdue as valuations have been stretched.
Here are some of the big movers in the stock market on Wednesday:
1. Intra-Cellular Therapies | Percentage Increase 72%
Intra-Cellular Therapies (ITCI) - Get Report climbed after the biopharma reported positive results from a late-stage study evaluating the company's lumateperone as adjunctive therapy to lithium or valproate in treating major depressive episodes associated with bipolar I or bipolar II disorder.
2. Watford Holdings | Percentage Increase 24%
Watford Holdings (WTRE) - Get Report jumped after Reuters reported that a group led by insurer Arch Capital Group (ACGL) - Get Report offered roughly $500 million to acquire the reinsurer. The bid comes more than a year after Watford went public.
3. Trillium Therapeutics | Percentage Increase 43%
Trillium Therapeutics (TRIL) - Get Report climbed after the clinical-stage immuno-oncology company said it had received an equity investment of $25 million from Pfizer (PFE) - Get Report. The company also reported a positive update for its dose-escalating studies for the CD47-targeting antibodies TTI-621 and TTI-622.
4. Vivent Smart Home | Percentage Increase 17%
Vivent Smart Home (VVNT) advanced after Deutsche Bank upgraded the home security company to buy from hold and raised its price target to $20 from $15. The firm said last month's stronger-than-expected second-quarter report and guidance and model changes can improve Vivent's cash flows.
5. DiamondPeak Holdings | Percentage Increase 12%
Special purpose acquisition company DiamondPeak Holdings (DPHC) - Get Report moved up one day after General Motors (GM) - Get Report said it would take a $2 billion stake in electric-truck startup Nikola (NKLA) - Get Report. Electric-pickup manufacturer Lordstown Motors is going public through a reverse merger with DiamondPeak.