11:51 AM EST, 12/24/2025 (MT Newswires) -- All three major US stock indexes were edging higher in late-morning trading on Wednesday after initial jobless claims beat analyst expectations, as markets gear up for an early close before Thursday's holiday.
According to the Labor Department, US initial jobless claims fell to a level of 214,000 in the week ended Dec. 20 from an unrevised 224,000 level in the previous week, compared with expectations for no change in a survey of analysts compiled by Bloomberg. As a result, the four-week moving average fell by 750 to 216,750 after rising by 500 to a level of 217,500 in the previous week.
In company news, NIKE (NKE) rose 4.6% in recent trading after a filing showed that Apple (AAPL) Chief Executive Tim Cook bought roughly $3 million worth of Nike (NKE) shares. Cook is also a director at Nike (NKE). Apple (AAPL) was up 0.7%.
Microsoft (MSFT)-backed (MSFT) OpenAI said it is exploring how to incorporate advertisements in its flagship ChatGPT product. "People have a trusted relationship with ChatGPT, and any approach would be designed to respect that trust," an OpenAI spokesperson said in a statement sent to MT Newswires. Microsoft (MSFT) rose 0.2% in recent trading.
Edgewise Therapeutics (EWTX) climbed 22% after the company said it completed parts B and C of a phase 2 trial of EDG-7500 in patients with obstructive and nonobstructive hypertrophic cardiomyopathy and reported favorable interim safety results from its ongoing part D study. The company added that it plans to initiate a phase 3 trial in Q4 2026.
Russian President Vladimir Putin has pushed the deadline for ExxonMobil (XOM) to sell its stake in the Sakhalin-1 project to Jan. 1, 2027, Reuters reported, citing a decree issued by the country's government. Exxon recorded a $4.6 billion impairment charge on its 30% stake in the oil and gas project in April 2022, the report added. ExxonMobil (XOM) was up 0.2%.
Dynavax Technologies (DVAX) rose 38.7% in recent trading after Sanofi (SNY) said it has agreed to buy the company in a cash tender offer valued at about $2.2 billion. The deal was approved by Dynavax's (DVAX) board and is expected to close in Q1 2026, subject to certain conditions. Sanofi (SNY) rose fractionally.
Intel's (INTC) stock was down 1.6% in recent trading after Reuters reported that Nvidia (NVDA) has decided not to proceed with testing of chip production using Intel's (INTC) 18A process. The report added that Nvidia (NVDA) did not make a production commitment with Intel (INTC) when it invested $5 billion in the chipmaker in September. Nvidia (NVDA) fell 0.9%.
Agios Pharmaceuticals' (AGIO) shares were up nearly 20% in recent Wednesday trading after the US Food and Drug Administration approved Aqvesme or mitapivat to treat anemia in adults caused by alpha- or beta-thalassemia. The company expects Aqvesme to be available in late January 2026.
Price: 188.42, Change: -0.79, Percent Change: -0.42
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