Stocks making the biggest moves premarket: Plug Power, Exxon Mobil, Pioneer, Novo Nordisk and more

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Check out the companies making headlines in premarket trading.

Plug Power — The battery stock added nearly 6% after the company projected a sharp rise in revenue by 2027 to roughly $6 billion, according to a regulatory filing.

Timken — Shares fell roughly 2% following a downgrade by Bank of America to underperform from neutral, with analyst Michael Feniger noting concern over inventories moving forward.

Take-Two Interactive — Take-Two Interactive Software rose around 1% after Raymond James upgraded the stock to outperform and expressed optimism about its near- and medium-term future. The firm cited a path to more consistent releases and reasonable valuation based on the company's Grand Theft Auto 6 release soon.

DaVita, Novo Nordisk — Shares of the dialysis services provider sank 15% on the news of Ozempic's effectiveness in Novo Nordisk's kidney disease treatment study. Shares of Novo Nordisk added 3.1%.

Exxon Mobil, Pioneer Natural Resources – Shares of Exxon Mobil were lower by more than 1% premarket after the company agreed to buy Pioneer for nearly $60 billion, or $253 per share, in an all-stock merger. Meanwhile, Pioneer shares rose 2.5%. Exxon said production volume in the Permian Basin would more than double after the deal closes.

Humana — Shares dipped slightly after Humana said Bruce Broussard will step down as CEO in the second half of 2024.

Sherwin-Williams — Shares of the paint company fell less than 1% after the Serwin-Williams said Heidi G. Petz would assume the chief executive role beginning Jan. 1, 2024. Petz will also continue in her role as president after assuming CEO duties.

CSX — Shares added nearly 2% after an upgrade to overweight from JPMorgan. The firm said that CSX represents