{"id":71514,"date":"2023-10-11T16:18:09","date_gmt":"2023-10-11T20:18:09","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/exxon-pioneer-natural-silk-road-medical-davita-amgen-lilly-and-more-market-movers\/"},"modified":"2023-10-11T16:18:12","modified_gmt":"2023-10-11T20:18:12","slug":"exxon-pioneer-natural-silk-road-medical-davita-amgen-lilly-and-more-market-movers","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=71514","title":{"rendered":"Exxon, Pioneer Natural, Silk Road Medical, DaVita, Amgen, Lilly, and More Market Movers"},"content":{"rendered":"
\n
<\/p>\n

<\/p>\n

<\/p>\n<\/figure><\/div>\n

Stocks were mostly lower Wednesday\u00a0after data on U.S. inflation at the wholesale level were slightly higher than expectations. <\/p>\n

These stocks were making moves Wednesday:\u00a0<\/p>\n

\n Exxon Mobil
\n (XOM) reached an agreement to purchase shale-drilling company
\n Pioneer Natural Resources
\n (PXD) for $59.5 billion in stock. The deal values Pioneer at $253.23 a share. The acquisition is
\n Exxon\u2019s<\/span>
\n biggest since its merger with Mobil in 1999. Exxon fell 4.5%, while
\n Pioneer Natural
\n rose 1% to $239.74.<\/p>\n

\n

\n Shoals Technologies
\n (SHLS) was upgraded to Buy from Neutral at
\n Goldman Sachs
\n and the price target was raised to $28 from $27. Shares of Shoals, a supplier of electrical systems for solar and EV charging systems, rose 3.6% to $17.35.<\/p>\n

\n Silk Road Medical
\n (SILK) was falling 49% to $7.09 after the medical device company estimated full-year revenue at $170 million to $174 million, below previous guidance of $180 million to $184 million. Analysts had expected full-year revenue of nearly $182 million. Citi downgraded the stock to Sell from Buy and reduced its price target to $8 from $35.<\/p>\n

Dialysis-services provider
\n DaVita
\n (DVA) dropped 19% and U.S.-listed shares of
\n Fresenius Medical Care
\n (FMS), the German kidney dialysis services company, declined 18% after a trial of
\n Novo Nordisk
\n \u2018s (NVO) Ozempic, which has weight-loss benefits, to treat renal impairment in diabetes patients was stopped early because of its efficacy. U.S.-listed shares of
\n Novo Nordisk
\n rose 5.1%.
\n Eli Lilly
\n (LLY) rose 3.8%.
\n Eli Lilly
\n is seeking approval to market its own obesity treatment in the U.S.<\/p>\n

\n Amgen
\n (AMGN) rose 4.4% $283.10 after shares of the drug company were upgraded to Outperform from Market Perform at Leerink and the price target was boosted to $318 from $267.<\/p>\n

\n Birkenstock
\n (BIRK) opened at $41 a share, below the stock\u2019s initial public offering price of $46, the midpoint of the expected range. <\/p>\n

\n Plug Power
\n (PLUG) was up 3.4% after the hydrogen fuel-cell technology company disclosed in a presentation it expects revenue of $6 billion by 2027 and $20 billion by 2030.<\/p>\n

\n Walgreens Boots Alliance
\n (WBA) named Tim Wentworth as its new chief executive. Wentworth is the former CEO of pharmacy-benefit manager Express Scripts. Walgreens is scheduled to report quarterly earnings on Thursday. Shares rose 0.9%.<\/p>\n

\n Coherent
\n (COHR) jumped 4.5% to $34.53 after
\n B. Riley
\n upgraded shares of the materials, networking and lasers company to Buy from Neutral and the price target was increased to $51 from $37.<\/p>\n

American depositary receipts of
\n Polestar Automotive
\n (PSNY) were down 2.6% after the Swedish electric-car company filed for a mixed shelf of up to $1 billion.<\/p>\n

Write to Joe Woelfel at\u00a0joseph.woelfel@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Stocks were mostly lower Wednesday\u00a0after data on U.S. inflation at the wholesale level were slightly higher than expectations. These stocks were making moves Wednesday:\u00a0 Exxon Mobil (XOM) reached an agreement to purchase shale-drilling company Pioneer Natural Resources (PXD) for $59.5 billion in stock. The deal values Pioneer at $253.23 a share. The acquisition is Exxon\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":69356,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-71514","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nExxon, Pioneer Natural, Silk Road Medical, DaVita, Amgen, Lilly, and More Market Movers | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Stocks were mostly lower Wednesday\u00a0after data on U.S. inflation at the wholesale level were slightly higher than expectations. 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