Investors are looking at the biggest midday moves in the market. Carnival's shares have surged 12.45% after both JPMorgan Chase and Bank of America upgraded the stock to overweight and buy from neutral respectively, citing continuing demand for cruise industry services. Both Norwegian Cruise Line and Royal Caribbean also increased 7.22% and 2.57%, respectively. Chinook Therapeutics' shares skyrocketed 58.32% after Novartis agreed to purchase the biotech firm for up to $3.5 billion. On the other hand, Nasdaq's stocks dropped 11.81% after the exchange operator declared it was buying the software firm Adenza, owned by Thoma Bravo. SentinelOne's stock rose 8.18% after Morgan Stanley upgraded it to an overweight grade and called it a long-term stock winner. Oracle's stock climbed 5.99% prior to its quarterly earnings announcement later in the day. Additionally, Catalent's stock jumped 10.23% after reporting delayed fiscal third-quarter results. Nio's stock inched up 8.67%, after announcing price cuts for its offerings and ending free battery swaps for new consumers. Illumina's stock rose 3.79% following the news that CEO Francis deSouza had stepped down, and KeyCorp's stock decreased 4.31% after they said net interest income was expected to be weaker than anticipated.
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