5 Top Stock Gainers for Wednesday: Upstart, NortonLifeLock, Coinbase

5 Top Stock Gainers for Wednesday: Upstart, NortonLifeLock, Coinbase

Stocks rose Wednesday after data showed U.S. inflation moderated slightly in July, suggesting to investors the Federal Reserve likely will refrain from pulling back on economic support anytime soon.

Here are some of the market’s biggest gainers for Wednesday:

1. Upstart | Increase 19%

Upstart  (UPST) – Get Report shares jumped after the artificial-intelligence-based lending platform reported second-quarter results that topped forecasts and analysts reacted positively. Adjusted profit came to 62 cents a share, more than double the Bloomberg analyst consensus estimate of 25 cents. Sales totaled $193.9 million, exceeding expectations of $157.2 million.

2. NortonLifeLock | Increase 8.4%

Shares of NortonLifeLock  (NLOK) – Get Report climbed after the company agreed to acquire cybersecurity firm Avast for cash and stock in a deal valued at between $8.1 billion and $8.6 billion. Based on NortonLifeLock’s closing share price of $27.20 on July 13, the merger values the transaction at between $8.1 billion and $8.6 billion, depending on Prague-based Avast’s shareholder elections.