Morning Movers: Akero jumps after deal to be bought by Novo Nordisk

Stock futures are largely flat as investors paused ahead of remarks from Fed Chair Jerome Powell. Many see his comments as a pivotal guidepost for the path of interest rates this year.

Tech stocks continue to carry the market. On Wednesday, the S&P 500 and Nasdaq closed at all-time highs, largely driven by strength in AI and chip names, which remain at the center of investor focus.

Gold remains a standout. The precious metal continues to trade above $4,000 per ounce, buoyed by safe-haven demand amid geopolitical uncertainty and rate-cut expectations.

Oil prices eased as the Israel–Hamas ceasefire deal reduced some of the risk premium previously embedded in energy markets. Supply and demand fundamentals remain under scrutiny, especially with inventory dynamics and OPEC+ moves in view.

In pre-market trading, S&P 500 futures were flat, Nasdaq futures fell 0.04% and Dow futures fell 0.05%.

Check out this morning’s top movers from around Wall Street, compiled by The Fly.

HIGHER –

• Akero Therapeutics (AKRO) up 17% after the company announced that it has entered into a definitive agreement to be acquired by Novo Nordisk (NVO) for up to $5.2B in cash
• Oklo (OKLO) up 3% after Canaccord initiated coverage of the stock with a Buy rating and $175 price target
• Tractor Supply (TSCO) up 1% after Citi upgraded shares to Buy with a price target of $62, up from $60

UP AFTER EARNINGS –

• Delta Air Lines (DAL) up 8% 
• PepsiCo (PEP) up 1%

LOWER –

• Ferrari (RACE) down 12% after presenting its 2030 strategic plan which includes revised 2025 and 2030 guidance as well as scaling back electrification
• Novo Nordisk (NVO) down 2% in New York after Akero agreed to be acquired by the company for up to $5.2B in cash