CCL, NDAQ, ORCL, KEY and more

The Carnival Miracle cruise ship operated by Carnival Cruise Line is docked at Pier 27 in San Francisco, Sept. 30, 2022.

Justin Sullivan | Getty Images

Check out the companies making the biggest moves midday.

Carnival — The stock rallied 12.45% after it was upgraded by JPMorgan Chase to overweight from neutral and by Bank of America to buy from neutral. The former cited continued demand momentum in the cruise industry. Other cruise stocks also got a boost, with Norwegian Cruise Line gaining about 9% and Royal Caribbean adding 2%.

Chinook Therapeutics — Shares soared 58.32% after Novartis announced it has agreed to acquire the biotech firm for up to $3.5 billion. Chinook Therapeutics’ shareholders will get $40 per share, about 67% higher than where the stock closed Friday. They may also get an additional $4 per share in cash through contingent value rights.

Nasdaq — Shares fell 11.81% after the exchange operator announced it was buying Adenza, the software firm owned by Thoma Bravo. The deal is valued at about $10.5 billion.

SentinelOne — The cybersecurity stock popped 8.18% after Morgan Stanley upgraded shares to overweight and called SentinelOne a “long-term share gainer” despite its recent execution troubles.

Oracle — Shares of the IT cloud software company gained 5.99% ahead of its quarterly earnings announcement scheduled for after the bell. Wolfe Research upgraded shares to outperform from peer perform in a Sunday note, citing the company’s early-mover advantage in the artificial intelligence boom.

Catalent — The stock jumped 10.23% after reporting delayed fiscal third-quarter results before the bell. The pharmaceutical company posted a loss of 9 cents per diluted share, excluding items, and revenue of $1.04 billion. It’s unclear if these figures are compatible with FactSet’s consensus estimates on revenue and EPS. CEO Alessandro Maselli said the fundamentals of the business remain strong.

Nio — The Chinese electric car maker’s stock added 8.67% after Nio said it was cutting prices for its vehicles and ending free battery swaps for new buyers. The company is also delaying capital expenditure projects, it said last week. Nomura assumed coverage of Nio with a neutral rating Sunday, after previously rating it a buy.

Illumina — Shares of the biotech company rose 3.79%. Illumina announced a change in leadership Sunday. CEO Francis deSouza resigned, effectively immediately, but will stay on in an advisory capacity through July. The company said it is exploring both internal and external replacement candidates. The change comes after a heated proxy fight with activist investor Carl Icahn.

KeyCorp — The regional bank stock slipped 4.31% after the company said at an investor conference that net interest income is going to come in softer than expected based on funding mix and deposit cost pressures.

— CNBC’s Hakyung Kim, Alex Harring, Samantha Subin and Jesse Pound contributed reporting.

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