Stocks making the biggest moves in early trading: Nvidia, AMD, Eli Lilly, cruise lines — Live updates

Cruise liners and airline stocks are seeing gains on Monday after oil prices move lower.

Shares of Carnival are up 4%, while Royal Caribbean and Norwegian are both up more than 3%. Meanwhile, American Airlines and United Airlines are both moving more than 6% higher while Delta is up 4.6%.

West Texas Intermediate (WTI) crude is down 3.7% to about $87 per barrel. WTI dropped nearly 13% last week on diplomatic headlines, according to FactSet.

— Paulina Likos

Shares of Molson Coors Beverage slipped 1% following a downgrade at JPMorgan to underweight from neutral.

The Coors and Miller parent, which cut its full-year guidance on Thursday, faces challenging fundamentals, including weakness in the beer category and inflationary cost pressures, said analyst Drew Levine.

— Michelle Fox

Shares for SAP gained nearly 3% after JPMorgan upgraded the Germany-based application software company to overweight from neutral on Monday. 

“We upgrade SAP to Overweight (from Neutral) as AI moves from pilot to production, a shift we think favors systems of record such as SAP, ” wrote Toby Ogg, a analyst at JP Morgan. 

The firm added SAP’s AI offering is improving and raised its price target to £275 from £175.

— Ananya Chetia

Doug Anmuth at JPMorgan likes what he’s seeing at Amazon and Meta on the AI front, naming the companies in a Monday client note as picks for the bank’s analyst focus list. JPMorgan predicts “continued strong revenue growth for Meta on AI-driven ad improvements.” The bank sees big revenues over the longer for Amazon, driven by cloud segment growth. “AMZN now expects AWS revenue growth of 40%+ in 2027 & 2028, & for AWS to reach revenue of $1T in the next 5-10 years, w/improving capex payback,” Anmuth wrote. Amazon shares are up 3% in the premarket on Monday and Meta is up 2.5%.

– Tobias Burns

Eli Lilly shares increased nearly 2% after Canada’s Drug Agency welcomed a positive recommendation to reimburse Lilly’s treatment for early Alzheimer’s called Kisunla for eligible adults on Friday.

Berkshire Hathaway ticked 0.4% lower after reporting third quarter earnings Saturday. Some of the key takeaways from the quarter included operating earnings falling 6% year over year, reflecting declines in insurance business and lower gains on common stock investments. Berkshire Hathaway also stepped up share repurchases in Q3.

— Paulina Likos

The sport betting stock fell 1.7% after UBS downgraded DraftKings to neutral from buy while cutting its price target to $22 from $48.

Analyst Robin Farley cited “uncertain regulatory outlook” in prediction markets making it difficult to value DraftKing’s core business alone. Making matters more murky, UBS noted is the company recently lowering its core 2026 revenue guidance while guiding for roughly $1 billion of prediction market losses through 2027.

Shares advanced 3.2% after Oppenheimer upgraded the chipmaker to outperform from market perform while assigning a price target of $600 per share. That suggest 34% upside to Friday’s close.

Analyst Rick Schafer became bullish in the company after it reported a strong third quarter last week. The firm raised its estimates for future revenue and earnings per share.

The artificial intelligence chip leader dropped nearly 5% after the company opened an investigation of CEO Jensen Huang’s relationship with a businesswoman, Alice Huang, who intelligence agencies allege is a Chinese spy.

Alice Huang is affiliated with a cloud company and an Nvidia customer called Megaspeed. U.S. intelligence agencies have expressed concerns that she has been passing information to Beijing, according to reports in The New York Times and the Financial Times.