From earnings beats to a potential spin off, here are some of the biggest stories sending these stocks soaring on Wednesday.
Shares of Express (EXPR) - Get Report were surging over 22.5% in afternoon trading on Wednesday after the American retailer reported a second-quarter earnings and revenue beat, while posting an improvement in its same-store-sales.
Perhaps most importantly as with any retailer these days facing constant threats from e-commerce giants including Amazon.com (AMZN) - Get Report , Express was able to grow its online sales 28% during the quarter.
Today's climb provides a sigh of relief to investors in a name down 37% year-to-date.
Wednesday proved to be a solid day for retail as shares of American Eagle (AEO) - Get Report were soaring over 6.6% in afternoon trading, as the company posted a second-quarter earnings and revenue beat.
- United Technologies Stock Climbs as Activist Said to Be Buying Shares
- IBM Shares Are at a Price That You Almost Can't Believe
Comparable sales at American Eagle rose 2% in the quarter, smashing expectations for a 0.4% decline. Again, another relief for investors in a name down over 20% year-to-date.
The two luxury car brands combined carry an estimated worth of about $8.3 billion, according to Bloomberg.
Shares of the aerospace manufacturer United Technologies (UTX) - Get Report were climbing over 1.5% in afternoon trading on Wednesday on a New York Post report saying an activist investor has begun purchasing shares of the company.
The report suggests the activist is Dan Loeb, the billionaire founder and CEO of hedge fund Third Point.
The move could provide further clarity on United Technologies' reported mulling of a Rockwell Collins (COL) takeover.
The firm cites Snapchat's ability to capture younger demographic users and video content offerings as their basis in reiterating their "Overweight" rating with a $15 price target.
Don't miss these top stories on TheStreet:
- This Is Where McDonald's Is Closing a Lot of Restaurants
- Amazon, Netflix, Tesla Crash Into Correction Territory -- Now What?
- Apple iPhone 8's 'Crown Jewel' Has Everything to Do With Your Face
- Goldman Sachs Gets Approval to Trade Stocks in This Kingdom
- Starbucks Could Be Poised for a Rebound