As finance experts at Extreme Investor Network, we are always on the lookout for the latest trends and movements in the market that could impact your investment decisions. Today, we bring you a recap of the companies making significant moves in the midday trading session.
Inspire Medical Systems and ResMed, known for manufacturing devices to treat obstructive sleep apnea, saw a drop of 14% and 11%, respectively, following news that Eli Lilly’s weight loss drug tirzepatide showed promise in reducing the severity of the condition. Eli Lilly also applied for FDA approval for the drug’s use in treating sleep apnea, leading to a 2% increase in their stock.
RXO shares surged 23% after the announcement of their acquisition of Coyote Logistics from UPS for over $1 billion. Alnylam Pharmaceuticals soared 37% following positive results from a phase three study of their drug vutrisiran in treating ATTR amyloidosis with cardiomyopathy.
On the other hand, Nvidia experienced a nearly 5% decline, Affirm’s stock rose by 10% after Goldman Sachs gave it a buy rating, and Cinemark saw a more than 5% increase in its shares with an upgrade to buy from Roth MKM.
Anheuser-Busch InBev, IBM, Ryder System, Carrier Global, Planet Fitness, and Ferrari also experienced movements in their stock prices, with various upgrades and positive news driving their performance.
In the energy sector, companies like SLB, APA, and Baker Hughes saw gains as crude oil futures rose at the start of the last week of June.
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