U.S. stocks rallied Wednesday as political uncertainty eased after Democrats swept both chambers of Congress in Tuesday’s midterm elections. Major U.S. indices closed sharply higher, with the Dow Jones Industrial Average surging 3.03% to 53,356.12, the S&P 500 gaining 1.58% to 7,688.62, and the Nasdaq climbing 1.44% to 25,736.51.
These are the top stocks that gained the attention of retail traders and investors through the day.
Qualcomm Incorporated (NASDAQ:QCOM)
Qualcomm gained 5.33% to close at $173.19, trading between $162.75 and $174. Its 52-week range is $121.99 to $259.92. The stock crashed 7.21% to $160.70 in after-hours trading.
Qualcomm reported fiscal fourth-quarter revenue of $10.322 billion, down 8% year over year but above the $10.111 billion analyst estimate, while adjusted EPS of $2.17 narrowly beat expectations of $2.16, supported by an 89% surge in automotive revenue despite a 26% decline in handset sales.
The company forecast first-quarter revenue of $10.4 billion-$11.2 billion and adjusted EPS of $2.15-$2.35, while reiterating its fiscal 2027 data center revenue target of $5 billion and projecting more than 60% growth in non-handset revenue.
AppLovin Corporation (NASDAQ:APP)
AppLovin Corporation stock advanced 10.69% to $271.75, after reaching $275.48 and dipping to $249.85. The stock’s 52-week high and low are $738.01 and $225.19. In extended trading, the stock shot up 22.57% to $333.08.
AppLovin reported third-quarter revenue of $2.19 billion, up 55% year over year and above the $2.08 billion analyst estimate, while EPS of $4.30 beat expectations of $4.07, supported by strong advertising technology demand and $1.4 billion in free cash flow.
The company forecast fourth-quarter revenue of $2.365 billion-$2.395 billion, exceeding Wall Street estimates of $2.25 billion, and authorized an additional $3.2 billion in share repurchases, sending shares higher in after-hours trading.
MercadoLibre, Inc. (NASDAQ:MELI)
MercadoLibre shares rose 4.68% to close at $1,739.88, with an intraday high of $1,767.98 and a low of $1,700. Its 52-week range spans $1,495 to $2,342. Shares dropped sharply by 6.26% to $1,631 in after-hours trading.
MercadoLibre reported third-quarter revenue of $10.75 billion, up 45% year over year and above the $10.66 billion analyst estimate, while EPS of $8.83 missed expectations of $9.27, despite strong growth across its commerce and fintech businesses.
Commerce revenue rose 41% and fintech revenue climbed 40%, as the company gained market share in its three largest markets, although shares fell 7.23% in after-hours trading.
Snap Inc. (NYSE:SNAP)
Snap Inc. gained 5.81% to finish at $5.92, moving between $5.69 and $6.02 during the session. Its 52-week high is $9.13 and low is $3.81. The stock dropped sharply by 11.49% to $5.24 in extended trading.
Snap reported third-quarter revenue of $1.72 billion, up 14% year over year but below the $1.73 billion analyst estimate, while EPS of 3 cents beat expectations of breakeven, as the company returned to profitability. Daily active users reached 495 million, although Snap announced it would stop reporting the metric in favor of monthly active users.
Coherent Corp. (NYSE:COHR)
Coherent stock fell 5.91% to close at $195.09, despite reaching $205.51 and touching an intraday low of $187.16. The stock’s 52-week range is $126 to $440. The stock rose 4.96% to $204.77 in after-hours trading.
Coherent reported fiscal first-quarter 2027 revenue of $2.37 billion, up nearly 50% year over year and above the $2.31 billion analyst estimate, while EPS of $2.09 beat expectations of $1.97, supported by growing demand for optical connectivity in AI data centers.
The company forecast second-quarter revenue of $2.55 billion-$2.75 billion and adjusted EPS of $2.28-$2.48, both exceeding Wall Street estimates, while projecting fiscal 2027 pro forma revenue growth of more than 60%.
Benzinga Edge rankings indicate Qualcomm stock has a Momentum score in the 31st percentile and a Value score in the 43rd percentile.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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