Stocks with the biggest gains at noon: GME, USM, NVDA, NCLH | Wilnesh News
Here’s a look at the biggest gainers at midday: GameStop – Shares of GameStop jumped nearly 23% after the video game retailer announced Friday that it had made about $933 million in proceeds from stock sales. Gambling stocks – U.S.-listed shares of DraftKings and FanDuel parent company Flutter Entertainment fell 10% and 7% respectively. The Illinois Senate approved the state’s budget over the weekend, which includes a measure to increase taxes on sports betting by imposing graduated rates on sports betting companies based on their revenue. US Cellular — Shares of US Cellular rose 7% after the telecommunications company announced that T-Mobile would acquire its wireless business and 30% of its spectrum assets for $4.4 billion. The deal is expected to close by the middle of next year. T-Mobile shares rose less than 1%, while Phone and Data Systems, which owns 84% of US Cellular, fell 2%. Insmed — Shares of Insmed soared nearly 105% after the biopharmaceutical company announced late-stage trial results for its chronic lung disease drug candidate brensocatib. The study found that the drug significantly reduced the annual rate of lung deterioration in non-cystic fibrosis bronchiectasis. Insmed plans to submit an application for approval to the FDA in the fourth quarter. Agios Pharmaceuticals — Agios shares rose 21% after the company said it will sell 15% royalties on brain cancer drug vorasidenib to Royalty Pharma RPRX-US for $905 million. The company said it will retain a 3% royalty when annual U.S. net sales exceed $1 billion. Duolingo — Shares of Duolingo rose 8.7% after JMP upgraded the stock to outperform. The company believes that the e-learning company’s new subscription package Duolingo Max and the positive factors of artificial intelligence may drive the stock price higher. Semler Scientific – The medical technology stock jumped more than 30% after it announced it would adopt Bitcoin as its primary reserve asset, following MicroStrategy’s lead. Semler also announced the purchase of 581 Bitcoins for approximately $40 million. Nvidia – The artificial intelligence darling gained 7%, continuing its gains after the chipmaker reported quarterly earnings on Wednesday. On Saturday, The Information reported that Elon Musk’s artificial intelligence startup xAI recently raised $6 billion and plans to build a new supercomputer. Norwegian Cruise Line — Shares of Norwegian Cruise Line rose 3% after Mizuho upgraded the company to “buy” from “neutral.” The investment firm said Norwegian Air’s earnings growth prospects have improved and could benefit from changing sentiment on its stock, which has been a popular target for short sellers. Sarepta Therapeutics — The biopharmaceutical stock fell 9% after RBC Capital Markets downgraded its rating to sector perform from outperform. The company said its setup looks less dramatic as the stock has gained about 28% year to date on growing expectations for a U.S. Food and Drug Administration (FDA) label expansion for its gene therapy Elevidys. RBC senses a slightly dovish message from the institution. Sea Limited — Shares fell nearly 5%. Reuters reported that Indonesia’s antitrust regulator said it was investigating whether Sea Limited’s e-commerce platforms Shopee and Lazada may have violated anti-competitive rules. Atlantica Sustainable Infrastructure — shares fell 5% after the company agreed to be acquired by Energy Capital Partners and co-investors for $22 per share in cash. Zscaler — Shares of the cybersecurity company fell nearly 4% after Wells Fargo downgraded its rating to equal weight from overweight. The bank cited growing competitive pressure on the call. Airbnb — Shares of the short-term rental company rose 1% after being rated an outperform by Wedbush. Airbnb’s recent underperformance provides an attractive entry point, the company said, citing strong travel demand. Elanco Animal Health — Shares of the animal health company (formerly part of Eli Lilly and Company) rose 1%. The FDA says its Bovaer methane-reducing feed ingredient meets safety and efficacy requirements. —CNBC’s Tanaya Macheel, Pia Singh, Hakyung Kim and Jesse Pound contributed reporting.
