Top 5 Trending Stocks Today: Intel, Adobe, and More

On Wednesday, Wall Street experienced a significant bounce back, breaking a two-day streak of losses. The S&P 500 saw a rise of 0.5%, closing at 5,599.30, while the Nasdaq climbed higher with a 1.2% increase, finishing at 17,648.45. In contrast, the Dow Jones Industrial Average faced a slight decline of 0.2%, closing at 41,350.93. This rally was driven by a report indicating that inflation was cooler than anticipated, which raised hopes for possible monetary easing in the future. Consequently, traders have begun to fully anticipate three interest rate cuts from the Federal Reserve by 2025.

Here are the top stocks capturing the interest of traders and investors throughout the day:

Intel Corp. (NASDAQ: INTC)

Intel's stock increased by 4.55% to end the day at $20.68, experiencing an intraday peak of $21.17 and a low of $20.21. The stock's 52-week trading range stands between $18.51 and $45.41. Following the day’s close, Intel shares continued their upward trend in after-hours trading, soaring nearly 11%. This surge was fueled by the announcement of a new CEO, Lip-Bu Tan, who previously served on Intel's board of directors. The new leadership is expected to take effect from March 18.

D-Wave Quantum Inc. (NASDAQ: QBTS)

D-Wave Quantum saw a dramatic increase as its shares rose by 8.18%, closing at $5.82. The stock touched an intraday high of $6.39 and a low of $5.34, with a 52-week range from $0.75 to $11.41. After hours, D-Wave's stock rose another 3.4%. The company, in collaboration with SkyWater Technology, celebrated a key milestone in quantum computing, revealing that its Advantage2 quantum computer outperformed traditional supercomputers in simulating magnetic materials, a demonstration of quantum supremacy.

Adobe Inc. (NASDAQ: ADBE)

Adobe's shares increased by 1.14% to close at $438.60, hitting an intraday peak of $443.90 and a low of $435.50. Over the past year, the stock has traded between $403.75 and $587.75. However, after hours trading saw a 4% decrease in its share price. Adobe announced its first-quarter financial results, which exceeded expectations for both revenue and earnings per share. The reported revenue for the quarter was $5.71 billion, surpassing the anticipated $5.66 billion, while adjusted earnings were $5.08 per share, better than the estimated $4.97 per share.

Nvidia Corp. (NASDAQ: NVDA)

Nvidia's stock price climbed by 6.43% to finish at $115.74, reaching an intraday high of $116.76 and a low of $112.88. The stock’s 52-week trading range is between $75.61 and $153.13. Nvidia, along with Advanced Micro Devices and Broadcom, has been approached by Taiwan Semiconductor Mfg. Co. Ltd. for a possible joint venture to take over independent operations of Intel’s factories.

Tesla Inc. (NASDAQ: TSLA)

Tesla shares surged by 7.59% to close at $248.09, with an intraday high of $251.84 and a low of $241.10. The stock has traded between $138.80 and $488.54 over the past year. While Tesla reported a drop of 11% in its new U.S. registrations for January 2025, rival companies in the sector displayed a substantial increase of 44% in their registrations.

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