Stocks making the biggest moves before the bell: Nvidia, Ferrari, Planet Fitness, Cinemark and more

Check out the companies making headlines in premarket trading. ResMed , Eli Lilly — ResMed tumbled 11.8% following last week's news that Eli Lilly's tirzepatide weight loss drug reduced the severity of obstructive sleep apnea. Eli Lilly, on the other hand, ticked higher by around 1%. RXO — The freight stock surged 12.7% after buying the Coyote Logistics unit from UPS . RXO paid more than $1 billion to UPS, whose shares were unchanged in premarket trading.

UBS raised its price target on the stock after seeing Ferrari's new factory unveiled on Friday. Planet Fitness — The budget-friendly gym chain climbed 3.1% after TD Cowen named the stock a top pick and raised its rating to buy from hold. TD Cowen called the company an "early turnaround play," citing a hard-to-ignore catalyst path and upside to valuation. Affirm — The buy-now-pay later stock jumped 3.2% on the heels of Goldman Sachs' initiation at a buy rating.

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