Investing.com – Advanced Micro Devices, Incyte and Hudson Technologies were soaring heading into the close amid a wider rally on Wall Street.
AMD (NASDAQ:AMD) surged 10% as the U.S.-China trade truce was expected to lift the company's revenues in the Beijing, which accounts for more than quarter of the chipmaker's total revenue, CNBC said, citing a report from Goldman Sachs published in July last year.
AMD was also boosted by a wider rally in the chip stocks, with analysts touting a better outlook for semiconductors as the U.S.-China trade ceasefire eased the tariff threat to Apple (NASDAQ:AAPL), whose iPhones include components from numerous semiconductor companies.
The U.S-China trade agreement "will remove a near-term overhang on tech stocks caught in the cross fire with Apple and the semiconductor space front and center," said Wedbush’s Dan Ives.
Incyte (NASDAQ:INCY) said the study of its treatment for patients suffering from graft-vs.-host disease had met its primary goal, sending its share more than 6% higher.
Patients treated with the company's with ruxolitinib in combination with corticosteroids showed an overall response rate of 55% at day 28 of the study, meeting the primary objective.
Hudson Technologies (NASDAQ:HDSN) rose 38% after it revealed late Friday that it had amended its term loan and revolving loan credit facilities.
The company also said that it had generated cash flow from operations of $35 million and reduced its debt by $37 million in the first nine months of 2018.