Stocks making the biggest moves midday: Chevron, Hims and Hers, Xenon Pharma, Vertiv and more
Check out some of the companies making the biggest midday moves: Oil stocks – Oil stocks briefly traded higher as the commodity surged as the Iran War showed no sign of abating. U.S. crude briefly topped $110 per barrel overnight, hitting levels not seen since mid-2022. Chevron earlier hit an all-time high, Talos Energy at one point rose 5%, while Northern Oil and Gas and ConocoPhillips posted early gains of 3% and 2%, respectively, before pulling back as crude oil prices came in. Hims & Hers Health – The stock surged 39% after Bloomberg News reported , citing a person familiar with the matter, that Hims & Hers struck a deal with Novo Nordisk , up 3%, to sell the Danish pharmaceutical company’s popular weight-loss medicine on its platform. The deal ends a lawsuit that aimed to stop Hims from selling acopycat version of Novo Nordisk’s Wegovy. Live Nation Entertainment – Live Nation rose 6% after Bloomberg reported the live entertainment company is nearing a settlement agreement with the Department of Justice over its alleged monopoly over the live concert industry. Mining stocks — The group dropped as the dollar surged, sending commodity prices higher, amid the ongoing U.S.-Iran conflict. Freeport-McMoRan and Newmont each fell 2%. Airline stocks — Carriers declined from 1% to 3% as fallout from the Iran War spiked jet fuel prices and roiled global travel plans. Delta Air Lines , American Airlines and United Airlines were also under pressure amid a TSA staffing shortage . Olema Pharmaceuticals — Shares of the clinical-stage biopharmaceutical company tumbled 20% following disappointing trial results from Roche. The latter’s Phase 3 study for an oral breast cancer drug did not meet its primary objective, leading to uncertainty for the entire oral breast cancer drug class. Universal Health Services , Talkspace – The provider of hospital services announced it would acquire Talkspace, an online therapy company, for $5.25 a share. The enterprise value of the deal comes to about $835 million. The acquisition is expected to close in the third quarter of 2026. Xenon Pharmaceuticals – Shares surged more than 47% after its seizure treatment drug passed a key efficacy trial. Xenon said the trial concluded its “azetukalner” drug reduced the frequency of treated seizures by more than a placebo, and that it will seek FDA approval of the medication in the third quarter. Cantor Fitzgerald and Stifel both raised price targets on Xenon in response to the new data. Lumentum , Vertiv , Coherent — The three stocks rose after S & P Dow Jones Indices announced Friday that they would be added to the S & P 500, effective March 23. Lumentum shares popped 10.5%, while Vertiv and Coherent advanced 8.3% and 2.6%, respectively. Jefferies Financial Group — Shares of the investment bank fell more than 3% after a downgrade by Morgan Stanley on Monday. Morgan Stanley said its call was due to ongoing credit concerns and a lawsuit filed Friday by Western Alliance, which alleged a breach of contract by Jefferies over a loan to now-bankrupt auto business First Brands Group. Royal Caribbean , Carnival and Norwegian Cruise Line — Shares of the cruise operators pared earlier losses amid concerns about higher fuel costs caused by rising oil prices. Royal Caribbean, Carnival and Norwegianshed anywhere from 1% to 3%. United Therapeutics – The pharmaceutical company saw shares rise more than 8% after its board authorized a $2 billion stock repurchase . United Therapeutics said it has entered a $1.5 billion accelerated share repurchase program, and the remaining amount of up to $500 million will be available for additional buybacks at the company’s discretion. — CNBC’s Fred Imbert, Davis Giangiulio, Michelle Fox, Darla Mercado, Liz Napolitano and Yun Li contributed reporting.
