Market Movers: Metsera and Apple surge, Kenvue falters on Tylenol troubles

Markets opened strong after closing at record highs last Friday.

• Yet another strong market opening with new 52-week highs for the three major indices.
• Metsera, a biotechnology company known to make weight-loss drugs, became a top gainer with the Pfizer deal.
• Apple gains as new products become available for purchase.
• Kenvue, parent company of Tylenol, slipped ahead of a new White House report that links autism and Tylenol consumption during pregnancy.

The market has been rallying high these past few weeks, driven by artificial intelligence and economic reports.

The S&P 500 was up 0.4%, the Nasdaq was up 0.7%, and the DJIA gained 0.1%. Meanwhile, the Russell 2000, after a weak midday performance, gained at closing, up 0.72%.

These are the Top Stock Movers Today

Five S&P 500 stocks making big moves today are:

• Teradyne Inc TER: +12.8%
• Oracle Corp ORCL: +6.3%
• Applied Materials Inc AMAT: +5.5%
• Western Digital Corp WDC: +5.4%
• Moderna Inc MRNA: +5.2%

The worst-performing five S&P 500 stocks today are:

• Kenvue KVUE: -7.5%
• Match Group Inc MTCH: -5.4%
• Keurig Dr Pepper Inc: -4.3%
• Lennar Corp LEN: -4.2%
• Church & Dwight Co CHD: -4.1%

Stocks also worth noting include:

• Metsera MTSR : +60.8%
• Plug Power PLUG: +21.7%
• Snap SNAP: +4.5%
• Apple AAPL: +4.3%
• NVIDIA NVDA: +3.9%

Weight loss drug finds backing in Pfizer

Metsera stock soared 60.8% after Pfizer  (PFE)  announced it would acquire the weight-loss drug developer in a $7.3 billion deal.

“Obesity is a large and growing space with over 200 health conditions associated with it. The proposed acquisition of Metsera aligns with our focus on directing our investments to the most impactful opportunities and propels Pfizer into this key therapeutic area,” said Albert Bourla, Chairman and CEO of Pfizer, in a statement.

More Health Care:

• Americans' health insurance bills could surge by 75% next year
• Walmart forms bold new health care partnership for affordable medicine
• 25% of Americans Are Burned Out Before 30

Bourla elaborated on the pharmaceutical giant’s plan to address the “ongoing unmet needs associated with obesity and related diseases.”

Pfizer will initially acquire all outstanding shares of Metsera common stock at $47.50 per share, valuing the enterprise at $4.9 billion. Later, it will make additional cash payments of $22.50 per share, tied to three regulatory and clinical milestones. 

Related: Pfizer, Merck, Johnson & Johnson to lose billions to Trump's latest executive order

Apple turns positive after iPhone launch

Apple  (AAPL)  stock closed 4.1% higher after its latest iPhones, iPhone 17, iPhone Air, and iPhone 17 Pro and Pro Max, became available on Sept. 19.

The stock faltered before CEO Tim Cook announced the new models on Sept. 9. However, its gain today shows renewed interest in the latest iPhones.

A Bank of America analyst note shows increases in shipping times for the new model, especially in China.

Our tracking of iPhone ship dates on Apple’s own website, and various carrier websites, indicates that as of Sep 22nd, ship time (in days) for the iPhone 17 (18 days) are more extended vs last year’s iPhone 16 (10 days). The ship dates for the iPhone 17 are the highest in China, with demand likely driven by 1) 15% government subsidy on electronics for which the iPhone 17 base variant is eligible and 2) unavailability of iPhone Air in China as carriers await regulatory approval.

An increase in demand despite a base price markup suggests market enthusiasm for new features, such as the latest Apple Watch's warning about high blood pressure risks and the automatic translation of spoken text on its new AirPods 3 headphones.

Related: Apple quietly rewrites the iPhone 17 playbook

Tylenol maker suffers due to White House Report

Kenvue  (KVUE) , a health consumer company and maker of Tylenol, saw a drop in its stock after news of a report linking autism and Tylenol consumption during pregnancy came out.

Kenvue was the worst S&P 500 performer today, slipping 7.5% even when makers have stated that there is no clear link between Tylenol and autism.

A Wall Street Journal report stated that Kenvue interim CEO Kirk Perry met Robert F. Kennedy Jr., Secretary of Health and Human Services, last week in a private meeting.

The agenda was to dissuade Kennedy Jr. from publishing a report linking acetaminophen—an active ingredient in Tylenol—with autism in children when consumed by pregnant mothers.

While the FDA has not been able to find evidence linking acetaminophen to autism, the market is already reacting negatively to President Doland Trump’s announcement, out later today.

Related: Popular office supply retailer sold after closing over 1,000 stores