The stock market is kicking off the week on a strong note following a losing week. That wasn't the case for every name, however.
Nvidia fell in premarket trading after CEO Jensen Huang admitted to having a relationship with an alleged Chinese spy. But despite Nvidia's declines, other semiconductor names held up well in early trading.
Follow below as CNBC breaks down the biggest stock market moves of the day:
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.
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.
