Here are some of Wednesday’s bigger, more active movers: Stock gainers: Novo Nordisk NVO shares jumped more than 4% in morning trading as the Danish drugmaker said it ended a trial early due to efficacy of its diabetes drug Ozempic against kidney disease. The news also sent shares of dialysis providers sharply lower (see below).
Tempest Therapeutics Inc.’s stock
TPST,
+1579.87%
blasted nearly 800% higher, to make it the biggest gainer and most actively traded on major U.S. exchanges, after the California-based cancer-treatment developer released “positive” results from a study of its treatment for patients with unresectable or metastatic hepatocellular carcinoma. Separately, Tempest announced a shareholder rights plan, also known on Wall Street as a “poison pill,” that kicks in an entity acquires or launches a tender offer to buy 10% or more of the outstanding shares. The stock had closed at a record low of 23 cents on Oct. 9. Shares of Thor Industries Inc. THO rose nearly 2% after the RV maker said its board authorized a 7% dividend increase to 48 cents a share. Tupperware Brands Corp.’s stock
TUP,
+41.11%
shot up 22% to continue its big bounce. The stock had soared 28.2% on Tuesday, after closing the previous session at a three-month low, in the wake of the food-storage container company’s disclosure that Richard Goudis planned to resign as executive vice chair around mid-October. Stock decliners: Shares of Exxon Mobil Corp.
XOM,
-4.54%
dropped 3.9% after the oil giant announced an agreement to buy shale driller Pioneer Natural Resources Co. in an all-stock deal valued at $59.5 billion, or at $64.5 billion including debt. Pioneer shares
PXD,
+1.09%
rose less than 1%. Shares in Fresenius Medical Care FMS dropped 19%, DaVita DVA stock fell 18% to lead the S&P 500 index’s SPX decliners, and Baxter International Inc. shares BAX shed 9%, on concerns over future dialysis sales in the wake of the Novo Nordisk trial. Hall …
Article Attribution | Read More at Article Source