Movers & Shakers: Exxon Mobil, DaVita stocks drop, Novo Nordisk and Tempest Therapeutic shares rally, and other stocks on the move

by | Oct 11, 2023 | Stock Market

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
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
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.
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
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

Share This