Stock futures edged higher early Wednesday as investors awaited the release of Federal Reserve minutes, hoping for clues about upcoming policy direction amid a government shutdown that has suspended much economic data.
Here are some of Wednesday’s biggest stock movers:
Biggest stock gainers
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Owens & Minor (NYSE:OMI) +2% – Shares rose after the company agreed to sell its Products & Healthcare Services segment to Platinum Equity for $375M in cash upon completion. Owens & Minor will also retain a 5% stake in the business with a preferred equity return, allowing it to benefit from future sale proceeds if the business is sold again.
Biggest stock losers
- Esperion Therapeutics (NASDAQ:ESPR) -18% – Shares plunged after the company priced an underwritten public offering of 30M shares at $2.50 each, targeting $75M in gross proceeds. Underwriters have a 30-day option to purchase up to 4.5M additional shares, with the offering expected to close around October 9, 2025, subject to customary conditions.
- Joby Aviation (NYSE:JOBY) -9% – Shares tumbled after the company priced its underwritten offering of 30.5M shares at $16.85 each, raising about $513.9M in gross proceeds. The underwriter has a 30-day option to purchase up to 4.6M additional shares. Proceeds will fund certification, manufacturing, and preparations for commercial operations. The offering is expected to close on October 9, 2025, subject to customary conditions.
- Iris Energy (NASDAQ:IREN) -5% – Shares declined after the company announced a proposed $875M private offering of convertible senior notes due 2031 to qualified institutional buyers, with an option for the initial purchaser to buy an additional $125M in notes. The company may redeem the notes for cash starting January 8, 2029, if its stock trades above 130% of the conversion price for a specified period. Proceeds will partly fund capped call transactions to reduce potential dilution upon conversion, with the remainder used for general corporate purposes and working capital.