Arm Holdings (NASDAQ: ARM) has witnessed a significant surge in the number of customers using its chips in data centers, a 14-fold increase since 2021. This growth is attributed to the company's strategic expansion into the PC market and the rising demand for AI computing.
As the US market prepares to open on Thursday, let's get an early glimpse into the pre-market session and identify the S&P500 stocks leading the pack in terms of gains and losses.
Wedbush’s Danile Ives expects the company to hit the next milestone of $5 trillion over the next 18 months, given his view that the current tech bull market is still early, being led by the AI Revolution.
Elon Musk's artificial intelligence startup xAI has launched Grok 4, positioning it as the world's most powerful AI model according to benchmarks that show it outperforming OpenAI's ChatGPT, Google's Gemini, and Anthropic's Claude.
Explore the S&P500 index on Wednesday and find out which stocks are the most active in today's session. Stay updated with the stocks that are capturing market interest.
Shares of telehealth company Hims & Hers Health (NYSE:HIMS) jumped 4.1% in the morning session after the company announced plans to expand into Canada with a weight-loss solution centered on generic semaglutide. The telehealth company intends to launch its weight loss program in Canada in 2026, a move timed to coincide with the expected global debut of a generic version of semaglutide. Semaglutide is the active ingredient in popular and effective, but costly, branded weight-loss drugs like Ozempic and Wegovy. Hims & Hers aims to capture a significant portion of the Canadian market, where the company notes that about two-thirds of adults are overweight or obese.
Shares of diagnostic imaging company RadNet (NASDAQ:RDNT)
jumped 4% in the morning session after the company announced a major partnership expansion for its AI-powered breast cancer detection program. The diagnostic imaging services leader revealed that three large Southern California physician groups—Regal Medical Group, Lakeside Community Healthcare, and ADOC Medical Group—will now include RadNet's Enhanced Breast Cancer Detection (EBCD) program as a covered benefit for their members. This collaboration significantly widens the availability of RadNet's advanced artificial intelligence tools for mammography, aiming to improve early detection and screening compliance for nearly 600,000 individuals.
Shares of telecommunications and cable services provider Altice USA (NYSE:ATUS)
jumped 4.3% in the morning session after its Lightpath unit announced plans to sell as much as $2.8 billion of asset-backed securities. The securities would be backed by fiber networks, including infrastructure like conduit and fiber optic cables, as well as customer agreements, according to a filing with the New York Public Service Commission. This move is seen as a way for the parent company, Altice USA, to manage its significant debt load, which includes $7.2 billion due in 2027 and another $5.4 billion the following year. The company has been exploring ways to restructure its roughly $25.3 billion debt pile. This asset-backed sale could provide a much-needed infusion of capital to address these upcoming maturities and improve the company's financial flexibility.
Shares of electricity generation and hydrogen production company Bloom Energy (NYSE:BE) jumped 15.1% in the morning session after J.P. Morgan upgraded the stock. The bank raised its rating on the fuel-cell manufacturer to "overweight" from "neutral" and significantly increased its price target to $33 from $18. This new target suggests a potential upside of nearly 36% from the stock's previous closing price. J.P. Morgan's positive outlook is based on the idea that elevated pricing and long lead times for competing gas turbines could push more customers toward Bloom's fuel cell solutions, especially with the help of fuel cell tax credits. The investment bank believes this could lead to stronger product margins for Bloom Energy, driven by higher factory utilization and increased pricing power.
British smartphone chip designer Arm Holdings (NASDAQ:ARM) trades above its 50-day moving average of $134.91. The stock surged 20% year-to-date, 39% in the last three months.
The report stated that construction continues in Yiwu County, a region on the edge of the Gobi Desert in Xinjiang, which has access to both a vast supply of renewable energy and coal.
