Orchard Therapeutics, Clorox and Rivian Automotive stocks were on the move.
Orchard Therapeutics shares ORTX, -0.61% nearly doubled, to $15.79, after agreeing to be purchased by Kyowa Kirin 4151, -0.24% for at least $16 per share in cash, plus an additional contingent value right of $1 per share.Clorox Co. shares CLX, +1.21% fell 5% after the company slashed its outlook following disruptions caused by a cyberattack first reported in August.
Shares of Rivian Automotive Inc. RIVN, +9.22% slid 9% after the EV maker said it plans to offer $1.5 billion worth of “green” convertible senior notes due in 2030, and issued preliminary sales estimates that met Wall Street’s expectations. Rivian stock rose by 9% on Wednesday. Exxon Mobil XOM, -3.74% shares fell 1%. The company said rising crude prices are likely to boost its third-quarter profit by $1 billion, but thinner margins from chemicals will hurt profits by as much as $600 million. Analysts at RBC say that the update from Exxon is likely to result in earnings above consensus expectations but roughly in line with investor expectations.
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