Exxon Mobil, Morgan Stanley, Polestar fall premarket; Walgreens, Plug Power rise
Investing.com -- U.S. futures edged higher Wednesday, ahead of the release of the minutes of the last Federal Reserve meeting as well as September producer prices data.
Here are some of the biggest premarket U.S. stock movers today:
Pioneer Natural Resources (NYSE: PXD) stock rose 1.9% after oil major Exxon Mobil (NYSE: XOM), down 2.4%, confirmed plans to acquire its rival in an all-stock deal with just under $60 billion, in what would be the most significant corporate deal of the year.
Walgreens Boots Alliance (NASDAQ: WBA) stock rose 1.8% after the pharmacy chain operator appointed Tim Wentworth as its CEO, pinning hopes on the healthcare industry veteran to reverse a recent drop in profits.
Amazon (NASDAQ: AMZN) stock rose 0.7% as the online retail giant launched its Prime Big Deal Days, seeking to tempt shoppers with deals on limited-quantity items.
Morgan Stanley (NYSE: MS) stock fell 0.5% after UBS downgraded its stance on the banking giant to ‘neutral’ from ‘buy’, seeing little upside from current levels given the challenging environment.
LVMH Moet Hennessy Louis Vuitton (OTC: LVMUY) ADRs are seen sharply lower after the French luxury goods retailer reported a slowdown in sales in the third quarter, with organic revenue growth of 9% during the quarter, down from 17% in the prior three-month period.
Arista Networks (NYSE: ANET) stock fell 1.5% after Piper Sandler downgraded its stance on the cloud networking solutions provider to ‘neutral’ from ‘overweight’, citing a lack of immediate catalysts.
Plug Power (NASDAQ: PLUG) stock rose 6.4% after the alternative energy company projected a big jump in revenue, up to $6 billion in revenue by 2027 and $20 billion by 2030, compared with about $1.2 billion in 2023.
Humana (NYSE: HUM) stock fell 2.8% after the health insurer announced that CEO Bruce Broussard is set to step down next year after 11 years in the role.
Polestar (NASDAQ: PSNY) stock fell 8.6% after the EV manufacturer announced plans to raise as much as $1 billion as it struggles with continued cash burn.