On Wednesday, U.S. stocks experienced a positive trend, with the Dow Jones index climbing over 224 points or 0.48% to 46,565.74. The NASDAQ rose by 1.16% to 21,840.94, while the S&P 500 increased by 0.72% to 6,575.32.
These are the top stocks that gained the attention of retail traders and investors through the day:
Globalstar Inc. (NASDAQ:GSAT)
Globalstar’s stock rose by 3.18%, closing at $68.53. The stock reached an intraday high of $72.98 and a low of $67.38, with a 52-week range of $17.24 to $74.88. In the after-hours trading, the stock shot up 15.36% to $79.06.
Globalstar shares surged overnight after reports that Amazon is in talks to acquire the satellite firm.
The report said negotiations are ongoing, with complexity stemming in part from Apple’s 20% stake, acquired through a $1.5 billion investment in 2024.
A potential deal would bolster Amazon's low-Earth-orbit satellite ambitions as it looks to catch up with SpaceX's dominant Starlink network. Amazon has already launched over 200 satellites and is racing toward a mid-2026 deployment target of roughly 1,600 satellites.
Globalstar's ties to SpaceX—including launch agreements for next-generation satellites—add another layer of strategic importance, especially as separate reports suggest SpaceX may be preparing for a massive IPO.
Looking ahead, Globalstar's next catalyst is its expected May 7 earnings report, with analysts forecasting a narrower loss of 1 cent per share and revenue growth to about $70.6 million.
Exxon Mobil Corporation (NYSE:XOM)
Exxon Mobil shares fell 5.23%, closing at $160.78. The stock hit an intraday high of $168 and a low of $159.53, with a 52-week range of $97.8 to $176.41.
The decline was linked to a shift in expectations regarding the Middle East, as Iran’s potential end to the conflict affected oil prices, dropping WTI crude by 2% to around $100 a barrel.
Cyclerion Therapeutics Inc. (NASDAQ:CYCN)
Cyclerion’s stock skyrocketed by 311.61%, closing at $6.38. The stock reached an intraday high of $8.48 and a low of $5.37, with a 52-week range of $1.03 to $8.48. The stock fell 8.62% to $5.83 in extended trading.
The dramatic rise followed the announcement of a merger with Korsana Biosciences, which will trade under the ticker KRSA. The merger, along with a $380 million financing commitment, has fueled investor enthusiasm.
Eli Lilly and Co. (NYSE:LLY)
Eli Lilly’s stock increased by 3.78%, closing at $954.52. The stock recorded an intraday high of $976.68 and a low of $925.99, with a 52-week range of $623.78 to $1133.95.
Eli Lilly stock rose after the Food and Drug Administration approved Foundayo, a new oral weight-loss drug, strengthening its position in the obesity market.
In the ATTAIN-1 trial, patients on the highest dose lost an average of 27 pounds, or 12.4% of body weight. The once-daily pill will be priced at $25 per month for commercially insured patients and $149 for self-pay via LillyDirect.
Foundayo becomes Lilly's second FDA-approved obesity treatment, with plans to expand into more than 40 countries. Eligible Medicare Part D patients are expected to access the drug for $50 per month starting July 2026.
Intel Corporation (NASDAQ:INTC)
Intel’s stock climbed 8.84%, closing at $48.03. The stock reached an intraday high of $48.77 and a low of $44.98, with a 52-week range of $17.67 to $54.60.
The increase came after Intel announced it would spend $14 billion to reclaim full control of its key AI chip factory in Ireland, a move funded by cash and new debt.
Benzinga Edge Stock Rankings indicate Globalstar stock has a Momentum in the 97th percentile and Value in the 2nd percentile.
This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
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