Snail Inc (NASDAQ:SNAL), the global independent game developer and publisher behind the ARK franchise, reported a strong first quarter on Wednesday, with revenues surging 36% and a return to profitability that sets the stage for an ambitious content pipeline through the rest of the year.
Net revenues rose 35.7% to $27.3 million for the three months ended March 31, 2026, up from $20.1 million in the same period a year earlier, driven by growth in ARK: Survival Ascended and the breakout performance of medieval survival title Bellwright.
Akamai Technologies Inc (NASDAQ:AKAM, XETRA:AK3) was upgraded to 'Buy' from 'Neutral' by Bank of America analysts, who said the company is increasingly being viewed as an artificial intelligence infrastructure play rather than a legacy content delivery network provider.
The firm also raised its price target to $175 from $130. Shares of Akamai traded up more than 5% at about $157 on Wednesday afternoon.
Rivian Automotive Inc (NASDAQ:RIVN) shares rose 4.2% on Wednesday after its spinout Mind Robotics, an artificial intelligence-driven industrial robotics company, closed a $400 million funding round that valued the startup at $3.4 billion.
The May 2026 round was led by Kleiner Perkins and also drew participation from the venture arms of Volkswagen and Salesforce.
Compass Pathways (NASDAQ:CMPS) shares rose 14% after it reported first quarter results that topped expectations and showed continued regulatory progress for its lead therapy COMP360 in treatment-resistant depression.
For the quarter, Compass reported an adjusted loss of $0.30 per share, coming in ahead of analyst expectations of a loss per share of $0.43. The result reflected lower-than-expected operating costs alongside ongoing progress in its late-stage clinical programs.
Wix (NASDAQ:WIX) shares fell about 30% after the company reported mixed first-quarter 2026 results, with revenue largely in line with expectations but earnings coming in well below estimates.
Revenue for the quarter was $541.2 million, up 14% year over year and slightly below the $43.9 million consensus estimate.
Birkenstock Holding PLC (NYSE:BIRK) shares fell more than 13% on Wednesday after the German sandalmaker reported second-quarter profit that missed analyst estimates, as US tariffs and foreign exchange headwinds weighed on margins despite solid top-line growth.
The company posted fiscal second-quarter revenue of 618 million euros, up 8% on a reported basis and 14% in constant currency, broadly in line with expectations.
Tower Semiconductor (NASDAQ:TSEM) reported better-than-expected financial results for the first quarter and issued an upbeat outlook, sending its shares 12% higher on Wednesday morning.
For the quarter ended March 31, 2026, Tower Semiconductor reported revenue of $413.6 million, compared with $358 million a year earlier, representing 15% year-over-year growth and above consensus estimates of about $408 million.
Alibaba Group (NYSE:BABA) shares climbed nearly 7% in early Wednesday trading after the Chinese e-commerce and technology giant reported fourth-quarter fiscal 2026 results that showed accelerating momentum in cloud and artificial intelligence, even as heavy investment spending weighed on profitability.
At first glance, the results appeared worrying. Revenue for the quarter came in at $35.3 billion, up 3% from a year earlier but slightly below analyst estimates of $35.8 billion.
Oklo (NYSE:OKLO) shares fell about 6% on Wednesday after the advanced nuclear technology company reported a wider first-quarter loss as spending increased to support development of its Aurora powerhouse program and related infrastructure projects.
The company posted a Q1 net loss of $33.1 million, compared with a loss of $17.9 million a year earlier.
Immunic Inc (NASDAQ:IMUX, FRA:10VA) said on Wednesday it remains on track to deliver top-line Phase 3 data for its lead multiple sclerosis drug candidate, vidofludimus calcium, by the end of 2026, as the company strengthens its leadership team and bolsters its balance sheet with a recently completed $200 million private financing.
Along with the release of its first quarter financial results, the biotechnology company said it continues to advance its twin Phase 3 ENSURE-1 and ENSURE-2 trials evaluating vidofludimus calcium in relapsing multiple sclerosis (RMS). Immunic plans to submit a New Drug Application in the US in mid-2027, targeting a potential approval in 2028.
Shares in Premier African Minerals Ltd (AIM:PREM, OTC:PRMMF), the AIM-listed lithium developer, fell 17% to 0.02p after the company raised approximately £1 million through the issue of more than 5.4 billion new shares at 0.0185p each.
The fundraise is heavily dilutive, lifting the total share count to over 38.1 billion, but the proceeds are earmarked for a critical phase in the company's development as its Zulu Lithium project in Zimbabwe approaches production.