Check out the companies making the biggest moves midday: Inspire Medical Systems, ResMed – Inspire Medical Systems and ResMed, which make devices to treat obstructive sleep apnea, fell 16.72% and 11.48%, respectively, after news on Friday that Eli Lilly weight loss. Tirizpatide reduced the severity of the condition. Eli Lilly also said it has applied for FDA approval to treat sleep apnea. Eli Lilly shares advanced 0.7%. RXO – Shares jumped 22.96% after the shipping company said it has closed a deal to buy Coyote Logistics from UPS for more than $1 billion. UPS stock rose 1.5%. Alnylam Pharmaceuticals – Shares of the clinical-stage therapeutics company rose 34.52% after a phase 3 study found that its drug vutrisiran showed a statistically significant reduction in deaths and cardiovascular events in patients with ATTR amyloidosis with cardiomyopathy. Nvidia – Shares fell 6.68%. Nvidia's latest decline adds to last week's 4% drop when it ended its eight-week winning streak. The beloved artificial intelligence company briefly overtook Microsoft as the most valuable company in the United States last week. Confirmation – Buy Now Pay Later shares rose 12.82% after Goldman Sachs assumed coverage on the name at a buy rating. Analyst Will Nance cited the stock's strong fundamentals, including a differentiated credit underwriting approach, as catalysts for the name. Cinemark – Shares of the movie theater chain rose more than 6.52%. Roth MKM upgraded Cinemark to a buy rating from neutral, saying headwinds should soon turn into a “very attractive tailwind.” The company also noted “meaningful improvement at the box office.” Anheuser-Busch InBev – Shares of the brewing company rose 2.9% after UBS upgraded the stock to buy from neutral. The bank noted that Anheuser-Busch is “on the cusp of delivering an ideal growth profile for consumer staples,” noting an inflection point in growth, margins and cash returns. IBM – The stock rose 1.48% after Goldman Sachs initiated coverage with a buy rating and a $200 price target, implying a 16% upside from Friday's close. The legacy technology company is on track to maintain long-term revenue and free cash flow growth, which is led by growth in artificial intelligence products and services, market share gains in consulting and growth in its core software portfolio, the company said. Ryder System – Shares of the trucking company rose 3.39% after Morgan Stanley initiated coverage with an overweight rating. The company cited the turn of the cycle, regulatory changes and secular tailwinds to outsourcing as catalysts. Carrier Global – Heating and Ventilation stock rose 2.78% on the heels of Citi's upgrade to buy from neutral. Citi said the company could be an alternative HVAC provider and have several improvements following the completion of its business transformation plan. Planet Fitness – The fitness club franchise added 0.4% after an upgrade at TD Cowen to buy from hold. The company also named Planet Fitness a top pick, calling the stock an early turnaround. Ferrari – Shares of the luxury automaker rose 1.7% after UBS raised its price target on the stock to $478 from $448, suggesting a 15% upside from Friday's close. Ferrari unveiled a new electric car factory last week. Energy Stocks – Energy names rose as crude oil futures jumped to start the final week of June. WTI and Brent futures are tracking monthly gains of more than 5%. Shares of SLB, APA and Baker Hughes advanced 3.99%, 4.45% and 4.49%, respectively, on Monday. — CNBC's Lisa Hahn, Jessie Pound, Alex Haring, Sean Conlon and Samantha Sobin contributed reporting.
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