Take a look at the companies making headlines in midday trading. Bally’s — Shares of the casino operator soared more than 25% after hedge fund Standard General made a takeover proposal, valuing the company at $15 a share. That’s 41.2% higher than the stock’s closing price last week. Oracle — Shares of Oracle rose 1.6% ahead of the software giant’s third-quarter earnings report after the bell. Analysts polled by FactSet expected earnings of $1.38 per share and revenue of $13.29 billion. Oracle’s shares are up 8% so far this year. NVIDIA – Artificial intelligence computing stocks fell 1.2% on Monday, extending losses from Friday’s trading session, when Nvidia shares fell more than 5% in its worst trading day since late May. Semiconductor stocks fell collectively this week. Advanced Micro Devices fell 4.2%. Lam Research fell 3%. New York Community Bancorp — Shares of the area bank fell 4.8%, extending losses after falling more than 6% on Friday. The stock has been trading volatile after raising $1 billion in funding last week. Crypto Stocks – Companies whose performance is tied to the price of Bitcoin rose on Monday after the cryptocurrency climbed to a record high. Cryptocurrency exchange Coinbase rose 4%. Shares of Bitcoin agency Microstrategy rose 14% after the company purchased approximately 12,000 Bitcoins for more than $821 million in cash, according to a filing. Moderna — The stock was up more than 8% in midday trading, on track for its biggest one-day gain since December. It’s also the top-performing stock in the SPDR S&P Biotech ETF (XBI) ETF. Xcel Energy — Shares of Xcel Energy rose 3.7% after Barclays upgraded the natural gas company to overweight and said it trades at an attractive price. Duolingo — J.P. Morgan gave the online learning platform an overweight rating for the first time and predicted that “high-quality” revenue growth could significantly push up Duolingo’s valuation, causing the company’s stock price to rise 3.6%. PDD Holdings – Shares of the Chinese e-commerce company rose nearly 3% after Jefferies upgraded Temu parent company to a buy rating ahead of its fourth-quarter earnings release next week. The Wall Street firm said geopolitical risks have been priced in after double-digit share price selloffs this year. Applied Materials — Shares of Applied Materials fell 2.3% even though the semiconductor maker said it would raise its quarterly dividend 25% to 40 cents a share from 32 cents. Eli Lilly — Eli Lilly fell about 4% after a slow start to the week. The pharmaceutical company has been one of the best performers this year with its weight-loss drug. —CNBC’s Michelle Fox, Alex Harring, Yun Li, Tanaya Macheel and Pia Singh contributed reporting.
