RCA - Hot Stocks: Retail rebound; WEN rallies on potential sale; PPC sets high; VRCA ASGN fall
The release of minutes from the Federal Reserve's latest meeting gave a late-day lift to Wall Street, helping the major averages post solid gains on Wednesday. The Nasdaq led the advance, climbing by 1.5%. A rebound in the retail sector contributed to the gains. This came amid ongoing reports about a sale of Kohl's (KSS), as well as earnings from Nordstrom and Best Buy (BBY). Macy's (M), Dillard's (DDS) and Gap (GPS) were among the other high-profile names that showed notable gains. Wendy's (NASDAQ:WEN) represented another standout gainer, climbing on news that the firm's biggest shareholder was looking to sell the company. Meanwhile, Pilgrim's Pride (PPC) added to recent gains to set a fresh 52-week high. On the other side of the ledger, Verrica Pharmaceuticals (VRCA) plunged almost 60% on a major regulatory setback. At the same time, ASGN Inc. (ASGN) was dragged down by a negative analyst comment, falling
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Hot Stocks: Retail rebound; WEN rallies on potential sale; PPC sets high; VRCA, ASGN fall