Check out the companies making the biggest moves during the day: Novo Nordisk — The Danish drugmaker’s Alzheimer’s disease trial failed to meet its primary goal of slowing the progression of the disease. The stock price fell nearly 6%. Inspire Medical Systems — The maker of obstructive sleep apnea drugs will benefit from Friday’s decision by the Centers for Medicare and Medicaid Services to increase reimbursement rates for outpatient prospective payment systems and ambulatory surgery centers, Stifel Financial said Sunday. Stifel upgraded Inspire to a hold rating and raised its price target by 10% to $110. The stock price soared nearly 30% on the news. US Foods — The food supply company rose 7% after backtracking on a potential merger with Performance Food Group. US Foods also reiterated its full-year outlook and authorized a new $1 billion stock repurchase program. Tesla — CEO Elon Musk said on X that the electric car maker is nearing completion of its latest artificial intelligence chip, the A15, and is starting work on the A16, sending shares up 7%. Musk said Tesla’s goal is to mass produce a new AI chip design every 12 months. Alphabet — The Google and YouTube giant rose 6%, hitting another all-time high. Alphabet was the only “Magnificent Seven” stock to rise last week, as investors continued to praise the debut of Gemini 3, the latest version of the company’s artificial intelligence model. Alibaba — The Chinese e-commerce company’s U.S.-listed shares rose 4% after the company said its new AI app, Qwen, had been downloaded 10 million times in its first week. Grindr — LGBTQ+ dating app fell 10% after a special committee of its board of directors decided to “discontinue its engagement” with a group of investors seeking to take the platform private for $18 per share, citing “continued uncertainty regarding the financing of the proposal.” Grindr soared in mid-October after shareholders owning more than 60% of the company’s common stock floated a takeover bid. Tegna, Nexstar Media — Tegna, Gannett’s former broadcast and digital division, fell more than 4%, and Nexstar fell more than 1%. President Donald Trump has said on social media that he opposes the Federal Communications Commission increasing or eliminating the current 39% cap on ownership of local television stations. This is a necessary move for the FCC to approve the pending merger between Tegna and Nexstar. PureCycle Technologies — The plastics recycler fell more than 2% after TD Cowen downgraded Purecycle from “buy” to “hold” and cut its price target by nearly half, from $16 to $9. Analysts cited the company’s past order delays. Oscar Health, Centene, Molina Healthcare — Health care stocks across the board rose after Politico reported that the White House would propose a two-year extension of Affordable Care Act subsidies that expire next month. The administration also plans to place new limits on eligibility, the report said. Oscar Health soared 24%, Centene rose 7% and Molina Healthcare rose 4%. Baidu — Chinese internet stocks rose nearly 8% after JPMorgan upgraded the stock to overweight from neutral. The bank cited Baidu’s upcoming AI transformation and claimed that the stock will rise more than 60% over the next year. MP Materials — BMO upgraded the rare earths miner to outperform the market, sending the stock up more than 7%. “We believe the current valuation provides an attractive entry point for investors looking to gain exposure to the rare earth theme,” BMO wrote. Blue Foundry Bancorp — The New Jersey-based bank soared about 40% after agreeing to be acquired by Lancaster, Pennsylvania-based Fulton Financial. 0.65 shares of Fulton for every share of Blue Foundry. The transaction is expected to close in the second quarter of 2026. Merck — The maker of the cancer drug Keytruda rose nearly 4% on the back of an upgrade from Wells Fargo & Co. to overweight from equal weight. The bank expects Merck to fill the gap from Keytruda’s expiration, saying the company will enter a “catalyst-rich period over the next 12 to 18 months.” Carvana — Used car retail platform outperformed with nearly 6% increase following Wedbush upgrade. Wedbush said last month’s 13% decline in the stock price was “excessive” and meant there was limited downside going forward. —CNBC’s Itzel Franco, Alex Harring and Fred Imbert contributed reporting.
