Akero Therapeutics, Palantir, Hyatt Hotels: Trending tickers
Stocks are higher in early trading on dovish commentary from Federal Reserve officials.
Hyatt Hotels Corporation (H) shares jump as the company will be replacing National Instruments (NATI) on the S&P MidCap 400, starting on Thursday, October 12. The change is being made after Emerson Electric (EMR) acquired National Instruments for $8.2 billion.
Palantir Technologies (PLTR) shares are up in early trading after the company won a three-year, $250 million Army contract.
Akero Therapeutics (AKRO) shares plunge as the company reported mixed results for its trial of a drug that treats fatty liver disease.
Yahoo Finance's Seana Smith breaks down some of the trending tickers of the day. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Video Transcript
- Now let's take a look at how things are shaping up, so far. A bit of a relief here, as stocks edge higher this morning as treasury yields do dip. Now this is spurred by more dovish tone from Fed officials, giving investors hope, once again, for a pause in rate hikes. Now investors also reacting to the chances of a more economic stimulus in China, bringing back some risk appetite amid the ongoing war between Israel and Hamas and also some of the pressure on yields adding to that sentiment today.
Taking a look at some of the individual names, Hyatt, is surging this morning on news that it will replace National Instruments on the S&P Midcap 400, starting in pre-market trading on Thursday. Now this comes as Emerson Electric has finally acquired National Instruments for $8.2 billion. This comes after several unsuccessful attempts. Hyatt is moving to the upside today, up just about 5.5%.
We're also watching Palantir moving to the upside this morning on news that the army has awarded the company a new three-year contract that's worth $250 million. Now the data analytics company is going to support the combatant commands armed services intelligence community and special forces as they test and scale artificial intelligence and machine learning capabilities.
We're also taking a look at Akero Therapeutics shares plunging down over 60%. The company releasing initial trial data on one of its lead drugs [? that's ?] known for treatment here [? for ?] fatty liver disease. Now the trial posted mixed results, with only 22% to 24% of patients with the disease, who did receive the treatment, seeing, at least, a one stage improvement.
