The S&P 500 rallied early Wednesday before ending the day down. The index is up 0.37% on Thursday, and three stocks on the S&P rallied on Wednesday that can’t be overlooked. The biggest gains of the day were experienced by:
1. Apple (AAPL)
Apple stock rallied over 3.5% on Wednesday and is up over 3.1% in early trade on Thursday. The company helped rally a slew of chipmaker stocks on Wednesday following an announcement that inventory levels for the company’s iPhone 7 are low.
The company also benefited from numerous carriers announcing an influx of preorders for the iPhone 7.
The news is a good sign for investors, as Apple’s stock has struggled with waning sales of the company’s iPhone product. A new iteration is expected to breathe life into the company and provide near-term gains as a result.
2. FMC Corp (FMC)
FMC stock rallied 3.5% on Wednesday and was slightly down on Thursday. The company rallied on news that it will hike the price of Butyllithium. The company will increase prices on all grades of the company’s products.
Consumers can expect a 10% increase in prices that will begin on October 1.
FMC also reported $65.2 million in profit in the second quarter of the year. The announcement was a miss for the company that has $742 million in profit in Q2 2015.
3. Wynn Resorts Limited (WYNN)
Wynn Resorts rallied over 3% on Wednesday and is up over 1% this morning. The company’s stock rallied on news of rebounding growth in Macau. Macau has been a major reason for the company losing value since 2014, and as sales bottomed out, investors saw signs of a rebound.
Wynn also opened the Wynn Palace, a $4 billion property, in August. The palace has 1,700 rooms and 350 tables and is in Macau, which is expected to help revive the market for the company.
