A rally in oil prices, which sent crude to its best close since June, and strength in financial services names boosted stocks Wednesday.
The S&P 500 climbed 0.43% while the Dow Jones Industrial Average added 0.62%. The Nasdaq Composite notched a gain of 0.5%.
On solid day for equities, Acacia Communications, Inc. (NASDAQ:ACIA), Constellation Brands, Inc. (NYSE:STZ), and Twitter Inc (NYSE:TWTR) stood out.
Acacia Communications, Inc. (ACIA)
Shares of Acacia Communications, Inc. surged 11.3% on volume that was nearly double the daily average after the communications company boosted its third-quarter earnings and revenue guidance.
ACIA now expects per share earnings of 83 cents-90 cents for the quarter, above the consensus estimate of 74 cents per share. ACIA forecast revenue of $130 million-$133 million. Analysts are expecting $129 million.
Acacia will also , reports CNBC.
Constellation Brands, Inc. (STZ)
Beer and spirits maker Constellation Brands, Inc. rose 1.7% on more than triple the usual volume after the company raised its full-year earnings guidance.
STZ, which makes Corona and Modelo beers, said it expects to earn $6.30-$6.45 per share this year, up from previous guidance of $6.05-$6.35. The consensus estimate for STZ earnings is $6.29 per share. STZ tightened the range on expected beer revenue growth this year to 16%-17%, up from 14%-17%.
Constellation also said privately held premium whiskey maker High West Distillery for an undisclosed sum.
Twitter Inc (TWTR)
Social media firm Twitter Inc soared again on takeover speculation, rising 5.7% on heavy volume. Bids for TWTR are due in the coming days.
Shares of salesforce.com, inc. (NYSE:CRM) slumped 5.8% on more than five times the usual volume on speculation that company could acquire TWTR, from sell-side analysts.
Other possible suitors for Twitter include Google parent Alphabet Inc (NASDAQ:GOOG, GOOGL) and Walt Disney Co (NYSE:DIS).
As of this writing, Todd Shriber did not hold a position in any of the aforementioned securities.
