Stock Movers Nike Gains; Occidental Petrochemical Talks; Pfizer Price Cuts
Oct 1, 2025
Nike shows signs of a comeback with better-than-expected sales, led by gains in wholesale and running shoes. Berkshire Hathaway is eyeing Occidental Petroleum's petrochemical unit in a potential $10 billion deal, marking a significant move for both companies. Meanwhile, Pfizer secures a major win by cutting drug prices by up to 85% and selling directly to consumers, aiming to dodge tariffs while inspiring a ripple effect among other pharmaceutical giants.
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Nike's Turnaround Wins Market Confidence
- Nike reported a smaller-than-expected sales decline and investors focused on its turnaround plans despite higher tariff impact estimates.
- Wall Street raised price targets, signaling confidence in Nike's recovery potential.
Berkshire Nears Deal For OxyChem
- Occidental's petrochemical unit, OxyChem, is reportedly near a roughly $10 billion sale to Berkshire Hathaway, lifting Occidental shares modestly.
- The potential deal reconnects Berkshire with Occidental after prior involvement in the company's Permian transactions.
Pfizer's Price Cuts Trigger Pharma Rally
- Pfizer shares rose after reports the company agreed to deep price cuts and direct sales to avoid proposed tariffs, prompting pharma stocks globally to climb.
- The move may set a pattern other major drugmakers follow amid political pressure on drug pricing.