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Biggest movers at midday: GameStop, U.S. Cellular, Nvidia, Norwegian Cruise Line and others

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Several companies made significant moves midday, driving shifts in the stock market. GameStop saw a 25.16% rise in shares after announcing a $933 million stock sale. On the other hand, DraftKings and U.S.-traded shares of FanDuel parent Flutter Entertainment fell 10.29% and 7.73%, respectively, due to a tax hike on sports betting in Illinois. U.S. Cellular saw a 12.19% increase in shares following T-Mobile’s acquisition of its wireless operations for $4.4 billion. Insmed’s stock soared 118.67% after positive trial results for its chronic lung disease drug candidate. Agios Pharmaceuticals also experienced a 23.21% increase in shares after selling the rights to its royalty on a brain cancer drug. Duolingo had an 8.83% rally after receiving an upgrade from JMP to outperform.

Semler Scientific surged 24.36% after announcing the adoption of bitcoin as its primary treasury reserve asset. Nvidia continued its momentum with a 7.13% increase following the news of Elon Musk’s AI startup xAI planning to build a new supercomputer. Norwegian Cruise Line rose 3.5% after an upgrade to buy from Mizuho, citing improved earnings outlook. On the flip side, Sarepta Therapeutics saw an 8.21% decline after being downgraded by RBC Capital Markets. Sea Limited shares dropped 3.26% amid an investigation by Indonesia’s antitrust regulator. Atlantica Sustainable Infrastructure fell 5.17% after agreeing to be acquired for $22 per share. Zscaler shed 4.36% due to a downgrade by Wells Fargo, citing competitive pressures. Airbnb rose 1.76% after an upgrade by Wedbush, noting strong travel demand. Elanco Animal Health added 2.08% following FDA approval for its methane-reducing feed ingredient.

Overall, the stock market saw a mix of ups and downs for various companies midday. GameStop’s announcement of a successful stock sale led to a 25.16% surge in shares, while DraftKings and Flutter Entertainment faced declines due to a tax hike on sports betting in Illinois. U.S. Cellular experienced a 12.19% increase following news of its acquisition by T-Mobile. Insmed’s stock soared 118.67% after positive trial results for its lung disease drug candidate. Agios Pharmaceuticals also saw a significant increase in shares after selling the rights to its royalty on a brain cancer drug. Duolingo rallied 8.83% after receiving an upgrade from JMP to outperform.

Semler Scientific surged 24.36% after adopting bitcoin as its primary treasury reserve asset. Nvidia continued its upward trend with a 7.13% increase, fueled by news of Elon Musk’s xAI planning to build a supercomputer. Norwegian Cruise Line rose 3.5% after an upgrade by Mizuho, highlighting an improved earnings outlook. On the other hand, Sarepta Therapeutics saw an 8.21% decline following a downgrade by RBC Capital Markets. Sea Limited shares dropped 3.26% amid an investigation by Indonesia’s antitrust regulator. Atlantica Sustainable Infrastructure fell 5.17% after agreeing to be acquired for $22 per share. Zscaler shed 4.36% due to a downgrade by Wells Fargo, citing competitive pressures. Airbnb rose 1.76% after an upgrade by Wedbush, citing strong travel demand. Elanco Animal Health added 2.08% following FDA approval for its methane-reducing feed ingredient.

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