Key takeout
- Generator stock saw gains following the news on October 1, 2025, that it might be acquired.
- AES shares surged after reports emerged that BlackRock’s global infrastructure partner might pursue a deal for the utility firm.
- Corteva stock declined after the agricultural science company announced plans to split into two separate entities.
Rumors of potential acquisitions boosted utilities, while the agricultural sciences firm faced challenges after declaring intentions to separate into two independent divisions.
On the first trading day post-federal government shutdown, stocks rebounded from early dips. The S&P 500 rose by 0.3% and the Dow inched up 0.1%, reaching a record high. Nasdaq climbed by 0.4%, just slightly setting its own closing record.
AES, a renewable energy provider, saw its stock jump nearly 17%, leading gains among S&P 500 stocks. Reports from Push Higher indicated that BlackRock (BLK), a substantial asset management firm, is engaged in talks to acquire AES, with the potential deal estimated at around $38 billion. This could be one of the largest infrastructure acquisitions in history.
Stocks in the pharmaceutical sector and health industry continued their rise on Wednesday. This came just a day after Pfizer (PFE) became the first major pharmaceutical company to comply with a push for lower prices, aligning with levels seen in other countries. Media channels highlighted that other pharmaceutical giants were likely to follow Pfizer’s example in negotiating price agreements with the Trump administration. Stocks of Biogen (BIIB), Thermo Fisher Scientific (TMO), Eli Lilly (LLY), and Regeneron Pharmaceuticals (REGN) notably performed well.
Shares of Micron Technology (MU), a memory chip maker allied with NVIDIA (NVDA), increased by nearly 9%, with hard drive manufacturers Seagate Technology (STX) and Western Digital (WDC) also seeing rises. This uptick is attributed to promising profits linked to heightened demand for data storage to accommodate AI advancements.
Corteva (CTVA) shares experienced a downturn of 9.1%, marking the weakest performance among S&P 500 stocks on Wednesday. This followed the company’s announcement about its plan to divide its crop protection and seed operations into two distinct companies, which they expect to finalize by the second half of 2026.
Shares of research firm Gartner (IT) fell by 4.5%. Although the US federal government contributes less than 5% to Gartner’s revenue, the shutdown impacted overall sentiment in the advisory sector. Concerns regarding AI’s potential disruption to research activities also weighed heavily on Gartner’s stock.
Interpublic Group (IPG) saw a decline of 5% on Wednesday, reversing earlier gains from the last session after confirmation that German biotech company Bayry had appointed IPG as its exclusive creative and media partner for consumer health. IPG, along with another marketing firm, Omnicom (OMC), announced ongoing regulatory approval for an intended merger, which they expect to finalize by year’s end. Omnicom shares also dropped by 5%.
