Top Performers on Wall Street: AI, Upgrades, and New Ventures Drive Gains

1. The Bank Of New York Mellon (NYSE: BK)
The Bank Of New York Mellon gained solidly by 5.25%. New York Mellon will report its second-quarter 2024 financial results on July 12 before the market opens. New York Mellon deploys an AI supercomputer. On July 3, New York Mellon disclosed four insider transactions involving Director Echevarria Joseph. Keefe, Bruyette & Woods upgraded New York Mellon to Outperform with a $70 price target.

2. Arm Holdings Plc (Nasdaq: ARM)
Arm Holdings Plc gained solidly by 4.61%. Arm Holdings has been added to the Nasdaq-100 Index, replacing Sirius XM. Guggenheim and B of A Securities maintain buy ratings, with updated price targets of $169.00 and $180.00, respectively. The company reported 2024 annual revenue of $32.33 billion, ending March 31, 2024.

3. Ferguson Plc (NYSE: FERG)
Ferguson Plc gained solidly by 4.3%. Ferguson reported third-quarter fiscal 2024 results with $216.89 billion in revenue, a 0.95% year-over-year decrease, and total net income of $12.84 billion. Barclays and RBC Capital maintain overweight/outperform ratings on Ferguson with updated price targets of $229 and $211, respectively.

4. Accenture Plc (NYSE: ACN)
Accenture Plc gained solidly by 4.28%. Accenture acquires Indian chip design company Excelmax. On July 8, 2024, Accenture disclosed eight insider transactions. Morgan Stanley downgraded Accenture's rating to Equal-Weight with a $300.00 target. Accenture's fiscal Q3 2024 revenue hit $48.49 billion with $5.701 billion in net profit.

5. Ford Motormpany (NYSE: F)
Ford Motormpany gained solidly by 4.05%. Ford filed a new patent for a hydrogen compression tank and introduced the new all-electric SUV, Capri, with a 628 KM range. Additionally, Ford plans to start making batteries in the US by 2026 with an initial $100 million subsidy.