Stocks making the biggest moves midday: ResMed, Affirm, Nvidia, Anheuser-Busch and more
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 24 2024
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Source: CNBC
- Inspire Medical Systems and ResMed: Shares of these companies dropped significantly after news that Eli Lilly's weight loss drug tirzepatide could reduce the severity of obstructive sleep apnea, with Eli Lilly's stock rising.
- RXO: The freight company's shares surged by 23% following an announcement of acquiring Coyote Logistics from UPS for over $1 billion, leading to a 1.5% increase in UPS stock.
- Alnylam Pharmaceuticals: The company saw a 37% increase in its stock value after positive results from a phase three study on its drug vutrisiran for patients with ATTR amyloidosis with cardiomyopathy.
- Nvidia: Shares of Nvidia fell by nearly 5%, continuing a decline from the previous week despite briefly surpassing Microsoft as the most valuable U.S. company.
- Affirm: The buy now, pay later stock rose by 10% after Goldman Sachs initiated coverage with a buy rating, highlighting the company's strong fundamentals and unique credit underwriting approach.
Analyst Views on RXO
Wall Street analysts forecast RXO stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for RXO is 15.42 USD with a low forecast of 11.00 USD and a high forecast of 20.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
16 Analyst Rating
3 Buy
11 Hold
2 Sell
Hold
Current: 15.830
Low
11.00
Averages
15.42
High
20.00
Current: 15.830
Low
11.00
Averages
15.42
High
20.00
About RXO
RXO, Inc. is a provider of asset-light transportation solutions. The Company offers tech-enabled truck brokerage services together with complementary solutions, including managed transportation and last-mile delivery. It combines massive capacity and cutting-edge technology to move freight through supply chains across North America. Its self-learning RXO Connect digital brokerage platform encompasses Freight Optimizer, as well as its mobile app, application programming interface (API) integrations, self-service dashboards and real-time functionality for transacting and tracking freight shipments. Its managed transportation service provides asset-light solutions for shippers who outsource their freight transportation. Its control tower solution leverages the expertise of a dedicated team focused on continuous improvement, and digital, door-to-door visibility into order status and freight in transit. Its last mile offering is an asset-light service that facilitates consumer deliveries.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
