Good morning Wake-up Watchlisters! While you’re sipping coffee you’ll see stock futures were higher on Wednesday. Today investors will be digesting fresh inflation data and the latest release of Federal Reserve minutes for a clue into its thinking on interest rates.

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Here’s a look at the top-moving stocks this morning.

DaVita Inc. (NYSE: DVA)

DaVita Inc. is down 15.32% premarket after Novo Nordisk’s Ozempic showed early success in a trial to treat kidney failure in diabetes patients. The Danish drugmaker said late on Tuesday it will stop its kidney outcomes trial almost a year ahead of schedule, based on a recommendation from the independent data monitoring board overseeing the study. This could disrupt companies like DaVita as it already treats kidney failure.

Plug Power Inc. (Nasdaq: PLUG)

Plug Power is up 5.31% premarket after the clean energy company benefited from dovish comments from a Federal Reserve official and a sharp reversal in long-term bond yields. As an unprofitable growth company, all of Plug Power’s value lies in its future theoretical profits, and when long-term interest rates fall, that provides relief for their stocks in the short term.

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Pioneer Natural Resources Company (NYSE: PXD)

Pioneer Natural Resources is up 2.35% premarket after Exxon Mobil confirmed its plans to buy the shale producer for around $60 billion on Wednesday. It’s the group’s biggest takeover deal in two decades. As part of the deal, Exxon will pay $253 per share for Pioneer in an all-stock deal that values the Irving, Texas-based group at around $59.5 billion.

Exxon Mobil Corporation (NYSE: XOM)

Exxon Mobil is down 2.06% premarket after agreeing to buy Pioneer Natural Resources. The deal expands Exxon’s presence in the Permian basis that straddles the border between Texas and New Mexico. The company will have an estimated 16 billion barrels of oil equivalent resource in the Permian.

Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team