A box of Ozempic, a semaglutide injection drug used for treating Type 2 diabetes made by Novo Nordisk.
George Frey | Reuters
Check out the companies making big moves midday.
Novo Nordisk
— The Danish drugmaker stock added 6.27% after saying late Tuesday it was halting Ozempic’s kidney disease treatment trial after a committee said an analysis showed signs of success. Eli Lilly
, which makes diabetes drug Mounjaro, rose 4.48%.
DaVita
, Fresenius Medical Care
, Baxter International
— Shares of dialysis services providers DaVita and Fresenius Medical Care sank 16.86% and 17.57%, respectively, on Novo Nordisk’s news. Baxter International, which makes products for chronic dialysis therapies, slid 12.27%.
Exxon Mobil
, Pioneer Natural Resources
— Exxon Mobil shares fell 3.59% after the largest U.S. oil and gas producer agreed to buy shale rival Pioneer Natural Resources for $59.5 billion in an all-stock deal, or $253 per share. Pioneer stockholders will receive 2.3234 shares of Exxon for every Pioneer share held. The deal, Exxon’s biggest since its acquisition of Mobil, is expected to close in the first half of 2024. Shares of Pioneer rose 1.44% following the news.
Humana
— Shares slipped 1.39% after CEO Bruce Broussard said he will step down from his position in the latter half of 2024. The company named Jim Rechtin of Envision Healthcare as his successor.
Amgen
