NVO, INSP, TSLA, TGNA and more
Check out the companies making the biggest moves midday: Novo Nordisk — The Danish pharmaceutical company’s trial for Alzheimer’s disease failed to meet its main goal of slowing the disease’s progression. Shares tumbled nearly 6%. Inspire Medical Systems — The maker of an obstructive sleep apnea treatment will benefit from Friday’s decision by the Centers for Medicare & Medicaid Services to raise reimbursement rates for Outpatient Prospective Payment Systems and Ambulatory Surgical Centers, Stifel Financial said Sunday. Stifel upgraded Inspire to buy from hold and raised its price target 10% to $110. Shares jumped nearly 30% on the news. U.S. Foods — The food supplier rallied 7% after it scrapped a potential merger with Performance Food Group . U.S. Foods also reiterated its full year outlook and authorized a new $1 billion share buyback program. Tesla — CEO Elon Musk said on X that the electric vehicle maker is close to finalizing its latest artificial-intelligence chip, A15, and is starting work on A16, sending the stock 7% higher. Musk said Tesla’s goal is to bring a new AI chip design to volume production every 12 months. Alphabet — The Google and YouTube giant climbed 6% to another all-time high. Alphabet was the only ” Magnificent Seven ” stock that rose last week as investors continued to applaud the debut of the latest version of its artificial intelligence model, Gemini 3 . Alibaba — The Chinese e-commerce company’s U.S.-listed shares added 4% after it said its new AI-app, Qwen, had 10 million downloads in its first week. Grindr — The LGBTQ+ dating app tumbled 10% after a board special committee decided “to cease engagement” with an investor group trying to take the platform private at $18 a share, citing “continued uncertainty as to the financing for the Proposal.” Grindr surged in mid-October after shareholders who own more than 60% of the common stock floated the buyout idea. Tegna , Nexstar Media — Tegna, the former broadcasting and digital arm of Gannett, sank more than 4% and Nexstar dropped more than 1%. President Donald Trump said on social media that he opposed the Federal Communications Commission either raising or eliminating a current 39% cap that limits local TV station ownership, a move that’s necessary for the FCC to approve the pending Tegna-Nexstar combination. PureCycle Technologies — The plastic recycler fell more than 2% after TD Cowen downgraded Purecycle to hold from buy and lowered its price target by nearly half to $9, from $16. Analysts cited the company’s history of delayed orders. Oscar Health , Centene , Molina Healthcare — The health-care stocks all moved higher following a Politico report that the White House will propose a two-year extension of Affordable Care Act subsidies due to expire next month. The administration will also set new limits on eligibility, the report said. Oscar Health soared 24%, Centene rallied 7% and Molina Healthcare added 4%. Baidu — The Chinese internet stock climbed almost 8% after an upgrade to overweight from neutral at JPMorgan. The bank cited an upcoming AI transformation at Baidu, and called for more than 60% upside in the stock over the next year. MP Materials — BMO upgraded the rare earths miner to outperform from market perform, sending the stock up more than 7%. “We believe the current valuation represents an attractive entry point for investors looking to gain exposure to the rare earth thematic,” BMO wrote. Blue Foundry Bancorp — The New Jersey-based bank soared soared almost 40% after agreeing to be bought by Fulton Financial of Lancaster, Penn. for 0.65 share of Fulton for each share of Blue Foundry. The deal is expected to close in the second quarter of 2026. Merck — The maker of the Keytruda anti-cancer treatment rose nearly 4% on the back of an upgrade from Wells Fargo to overweight from equal weight. The bank sees Merck filling the shortfall from the Keytruda expiration and said the company is entering a “catalyst rich period in the next 12-18 months.” Carvana — The used car retail platform added almost 6% following a Wedbush upgrade to outperform from perform. Wedbush said the stock’s 13% decline the last month is “overdone” and means there’s limited downside going forward. — CNBC’s Itzel Franco, Alex Harring and Fred Imbert contributed reporting.
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