Check out the companies making the biggest moves in premarket trading: Novo Nordisk — Shares tumbled 10% after the Danish pharmaceutical company’s trial for Alzheimer’s disease failed to meet its main goal of slowing the disease’s progression. Tesla — CEO Elon Musk said on X that the company is close to finalizing its latest artificial-intelligence chip, A15, and is starting work on A16, sending the stock 2% higher. Musk said Tesla’s goal is to bring a new AI chip design to volume production every 12 months. Alphabet — The tech giant gained 3.5%. Alphabet was the only “Magnificent Seven” stock that was positive last week. Alphabet launched its latest AI model, Gemini 3 , last week. Alibaba — U.S.-listed shares of the Chinese e-commerce company jumped 4% after announcing its AI-app, Qwen, had 10 million downloads within its first week of launching. Oscar Health , Centene , Molina Healthcare — The health-care stocks all moved higher following a Politico report that the White House will include a two-year extension of the Affordable Care Act subsidies due to expire next month. The administration will also set new limits on eligibility, the report said, sources. Oscar Health soared 17.5%, while Centene rallied 8% and Molina Healthcare added 5%. Baidu — The Chinese internet stock rose more than 4% after an upgrade to overweight from neutral at JPMorgan. The bank cited an upcoming AI transformation for the company, and called for more than 60% upside ahead. MP Materials — BMO upgraded the rare earths miner to outperform from market perform, sending the stock up more than 3%. “We believe the current valuation represents an attractive entry point for investors looking to gain exposure to the rare earth thematic,” wrote BMO. Merck — The pharma giant rose 2% 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 3.3% following Wedbush’s upgrade to outperform from perform. Wedbush said its drop of around 13% in the last month is “overdone” and the stock has limited downside going forward. — CNBC’s Fred Imbert and Alex Harring contributed reporting.
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Our finance blog is your go-to resource for expert financial advice, covering everything from personal budgeting and saving strategies to smart investing and market analysis. Stay updated with the latest trends, tips, and insights to help you make informed decisions and achieve financial success.
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