Here’s a look at the companies making the biggest moves this afternoon: Shares of Inspire Medical Systems, ResMed – Inspire Medical Systems and ResMed, which makes devices to treat obstructive sleep apnea, fell 14% and 11%, respectively, after Friday’s news that the company’s shares Eli Lilly The weight loss drug tirzepatide reduced the severity of the condition. Eli Lilly also said it has applied for Food and Drug Administration (FDA) approval for a drug to treat sleep apnea. Eli Lilly shares rose 2%. RXO — Shares jumped 23% after the trucking company said it had reached a deal to buy Coyote Logistics from UPS for more than $1 billion. UPS rose 1.5%. Alnylam Pharmaceuticals, a clinical-stage treatment company, soared 37% after a phase 3 trial showed its drug vutrisiran showed a statistically significant reduction in deaths and cardiovascular events in patients with ATTR amyloidosis with cardiomyopathy. Nvidia – Shares fell almost 5%. Nvidia’s latest decline adds to a 4% decline last week, when the company snapped an eight-week winning streak. Last week, the darling of artificial intelligence briefly dethroned Microsoft as the most valuable company in the United States. Confirm: Shares of the buy now, pay later company rose 10% after Goldman Sachs took on coverage of the company with a “buy” rating. Analyst Will Nance cited the stock’s strong fundamentals, including a differentiated approach to loan underwriting, as catalysts for the name. Cinemark — Shares of the movie theater chain rose more than 5%. Roth MKM upgraded Cinemark to buy from neutral, saying headwinds should soon change to “very attractive tailwinds.” The firm also noted a “significant improvement in box office performance.” Anheuser-Busch InBev – Shares of the brewer rose about 3% after UBS upgraded its rating on the stock to neutral. The bank noted that Anheuser-Busch “is on the cusp of achieving an ideal consumer products growth profile,” citing an inflection point in growth, margins and cash returns. IBM – Shares jumped nearly 3% after Goldman Sachs initiated coverage with a buy rating and a $200 price target, suggesting upside of 16% from Friday’s close. The company said the legacy technology company is on track to maintain long-term earnings and free cash flow growth, driven by growth in artificial intelligence products and services, increasing market share in consulting and growth in its core software portfolio. Ryder System – Shares of the transportation company jumped nearly 3% after Morgan Stanley began coverage with an “outperform” rating. The firm cited cycle-turning, regulatory changes and secular outsourcing tailwinds as catalysts. Carrier Global – Heating and ventilation stocks rose 3% following Citi’s upgrade to neutral. Citi said the company could become an alternative supplier of heating, ventilation and air conditioning systems and its performance would improve after completing its business transformation plan. Planet Fitness, a fitness club franchise, gained about 1% after TD Cowen switched to buy from hold. The firm also named Planet Fitness a favorite, calling the stock an early turnaround. Ferrari – Shares of the luxury car maker rose nearly 2% after UBS raised its share price target to $478 from $448, suggesting 15% upside from Friday’s close. Ferrari opened a new electric vehicle production plant last week. Shares of energy companies. A number of energy stocks rose as crude oil futures jumped early in the last week of June. West Texas Intermediate and Brent crude futures are up more than 5% monthly. Shares of SLB, APA and Baker Hughes rose more than 3% on Monday. — CNBC’s Lisa Hahn, Jesse Pound, Alex Harring, Sean Conlon and Samantha Subin contributed reporting.
