Midday movers: Pioneer Natural Resources, Birkenstock, Walgreens and more

Investing.com — U.S. stocks are mixed, with Nasdaq moving higher Wednesday after stronger than expected September producer prices data.

Here are some of the biggest U.S. stock movers today:

• Pioneer Natural Resources (NYSE:) stock rose 1.2% after oil major Exxon Mobil (NYSE:), down 4.2%, 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.

• Birkenstock Holding ltd (NYSE:) shares fell 8.7% after it began trading in an initial public offering that raised about $1.5 billion at a price of $46 a share.

• Walgreens Boots Alliance (NASDAQ:) stock rose 0.6% 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:) stock rose 0.6% as the online retail giant launched its Prime Big Deal Days, seeking to tempt shoppers with deals on limited-quantity items.

• Morgan Stanley (NYSE:) stock fell 1.5% 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:) ADRs are down 2.9% after the 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:) stock fell 3.6% 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:) stock rose 3.4% 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:) stock fell 2.2% after the health insurer announced that CEO Bruce Broussard is set to step down next year after 11 years in the role.

• Polestar (NASDAQ:) stock fell 2.9% after the EV manufacturer announced plans to raise as much as $1 billion as it struggles with continued cash burn.