U.S. stocks ended Wednesday with modest gains thanks to a rally in crude oil that pushed it to its best settlement since July 2015. The energy sector was the top performer on Wall Street. Michael Kors (KORS) spiked on rumors of possible takeover interest. Reports swirled that the handbag maker could sell at a roughly 17% premium to its Tuesday close. The company has yet to comment on the speculation. Wells Fargo (WFC - Get Report) was active after being downgraded to MARKET PERFORM at FBR Capital Markets. The firm said regulatory investigations will likely keep a lid on the stock. The bank has been under scrutiny since the launch of an investigation into its sales practices. Seagate (STX - Get Report) fell after warning of increased expenses even as cost-cutting measures continued. Higher costs were tied to performance-based compensation expenses. TheStreet's Keris Lahiff reports from Wall Street.