Bristol-Myers moved higher ahead of an expected data release related to the annual meeting of the American Society of Clinical Oncology (ASCO). An analysis of sell-side research ahead of the meeting by data provider FactSet indicated that Bristol-Myers topped the list for most mentioned large-cap name.
Southwest Airlines moved higher after the airline company raised its quarterly dividend to 4 cents a share from a penny a share and increased the size of its share buyback program to $1.5 billion from $1.0 billion.
Macy's moved higher after the department store chain reported first quarter net profits gained 20 percent versus a year ago. The retailer also raised its quarterly dividend by 25 percent to 25 cents a share and announced a $1.5 billion increase to its buyback program.
Wal-Mart spiked higher ahead of its quarterly earnings report on Thursday morning before the opening bell.
New 52-week highs and all-time highs continued to dominate the trading action. Netflix, Ford and Yahoo were just a few of the stocks hitting 52-week highs. TripAdvisor, Macy's and Urban Outfitters hit new all-time highs.
—By CNBC's Lori Spechler
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