U.S. stock markets faced a downturn on Wednesday as the 10-year Treasury yield reached its highest level since 2007, following strong September PMI data. This development has increased expectations for another Federal Reserve rate hike, leading traders to move away from high-growth stocks.
Major U.S. indices closed lower on Wednesday, with the Dow Jones Industrial Average falling 0.68% to 51,511.59, the S&P 500 declining 0.75% to 7,706.03, and the Nasdaq dropping 1.13% to 26,936.03.
These are the top stocks that gained the attention of retail traders and investors throughout the day.
Meta Platforms Inc. (NASDAQ:META)
Meta Platforms’ stock rose 1.02% to close at $744.10, with an intraday high of $763.90 and a low of $739.51. The stock’s 52-week range is between $520.26 and $763.90. In the after-hours trade, the stock fell 1.36% to $734.
Meta made a slew of announcements on Wednesday at its ‘Connect’ event. CEO Mark Zuckerberg announced a “ton of new glasses” and the company’s first-ever VR glasses, according to a Facebook post.
Separately, Zuckerberg gave an update on Muse on X. He said the agent now has a voice and features “real-time” video.
“You can have long conversations and Muse will work in the background and get things done for you as you’re talking,” said the CEO. He said that Muse will also come to glasses.
Investors showed continued interest in large-cap technology stocks, even as the broader market softened. Analysts from KeyBanc and Cantor Fitzgerald raised their price forecasts for Meta, maintaining Overweight ratings.
McDonald’s Corp (NYSE:MCD)
McDonald’s shares dropped 4.81% to $238.32, with a trading range of $250.32 to $234.03. The stock’s 52-week high and low are $341.75 and $234.03, respectively.
The decline followed the company’s Investor Day, where it acknowledged shortcomings in execution. McDonald’s aims for an operating margin in the low-to-mid 50% range by 2030.
Beneficient (NASDAQ:BENF)
Beneficient’s stock skyrocketed 438.73% to $2.90, reaching an intraday high of $3.15 and a low of $1.44. The stock’s 52-week range is between $0.50 and $12.48. In extended trading, the stock crashed 29.03% to $2.06.
Beneficient proposed a restructuring to eliminate about $130 million in contested debt and extinguish roughly $850 million in preferred equity tied to former CEO Brad Heppner, who was convicted of federal fraud in May. The plan would also eliminate another $88 million in contractual obligations and terminate Heppner’s super-voting control, significantly reshaping the company’s capital structure if completed.
Palantir Technologies Inc. (NASDAQ:PLTR)
Palantir’s stock increased by 3.68% to $191.79, with an intraday high of $193.79 and a low of $182.94. The stock’s 52-week range is $106.38 to $207.52.
Palantir shares rose 3% after Rosenblatt reiterated its Buy rating and $225 price target, arguing the company could still benefit from the Federal Aviation Administration’s AI modernization efforts despite losing the $875 million SMART contract to Air Space Intelligence. Palantir retained a broader FAA foothold through its Foundry platform, with the agency citing integration advantages, while U.S. government revenue reached $809 million in the second quarter, up 90% year over year.
Palo Alto Networks, Inc. (NASDAQ:PANW)
Palo Alto Networks’ stock rose 5.00% to $393.30, with an intraday high of $393.52 and a low of $374.20. The stock’s 52-week range is between $139.57 and $398.87.
Palo Alto Networks shares rose as investors weighed a new Unit 42 cybersecurity service that uses AI models from Anthropic and OpenAI to identify vulnerabilities, test attack paths and prioritize fixes. The company said the service was developed through six months of testing and more than 100 customer engagements, with a $17 million investment supporting its rollout.
Benzinga Edge Stock Rankings indicate Meta stock has a Momentum score in the 78th percentile and a Value score in the 47th percentile.
See More: Top Momentum Stocks
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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