stocks
Stocks Making the Biggest Moves Midday: Chevron, Hims and Hers, Xenon Pharma, Vertiv and More
These are some of the stocks posting the largest midday moves.
TL;DR
- Oil stocks traded higher as crude prices surged due to the Iran conflict, with U.S. crude topping $110 per barrel.
- Hims & Hers Health surged 39% after reportedly striking a deal with Novo Nordisk to sell its weight loss medicine, ending a lawsuit.
- Live Nation Entertainment rose 6% on news of nearing a settlement with the Department of Justice over alleged monopoly practices.
- Mining stocks dropped as the dollar surged amid the U.S.-Iran conflict.
- Airline stocks declined due to spiked jet fuel prices and a TSA staffing shortage.
- Olema Pharmaceuticals tumbled 20% after disappointing trial results from Roche affected the oral breast cancer drug class.
- Universal Health Services announced its acquisition of online therapy company Talkspace for approximately $835 million.
- Xenon Pharmaceuticals shares surged over 47% after its seizure treatment drug passed a key efficacy trial.
- Lumentum, Vertiv, and Coherent rose after being announced as additions to the S&P 500.
- Jefferies Financial Group fell more than 3% following a downgrade by Morgan Stanley due to credit concerns and a lawsuit.
- Cruise operators like Royal Caribbean and Carnival pared losses amid concerns about higher fuel costs.
- United Therapeutics shares increased over 8% after its board authorized a $2 billion stock repurchase.