The Sphere is seen during its opening night with the U2:UV Achtung Baby Live concert at the Venetian Resort in Las Vegas on Sept. 29, 2023.
Tayfun Coskun | Anadolu Agency | Getty Images
Check out the companies making headlines in midday trading.
Sphere Entertainment — Shares of the media and entertainment company climbed 11.1% in midday trading after a U2 show debuted its Las Vegas Sphere venue Friday night. Built by Madison Square Garden Entertainment, Sphere is said to be the newest iteration of immersive and futuristic concert experiences, complete with a next-generation wraparound screen.
Bitcoin stocks — Stocks tied to digital currency trading advanced in lockstep with a rally in crypto prices. Notably, Riot jumped 5.9%, while Marathon Digital, Coinbase and MicroStrategy finished modestly higher.
Discover Financial Services — The credit card issuer surged almost 4.9% after it disclosed in an 8K filing with the U.S. Securities and Exchange Commission a consent agreement with the Federal Deposit Insurance Corporation.
Gold and silver miners — Gold and silver miners struggled Monday as prices for the metals slid. Coeur mining, and Hecla mining each dropped over 7%. Harmony Gold Mining shares and Gold Resources fell by more than 5%. The Information reported on Monday that the Wall Street bank which underwrote Instacart’s IPO forecasted a weak outlook for the second half, with lower profits and slower revenue growth. Separately, Gordon Haskett initiated coverage of the company with a hold rating.
SolarEdge
— Shares erased 5.4% following a downgrade to equal weight from overweight at Barclays. The firm said the company will likely see price cuts in the next year.Insulet
— Shares of the diabetes tech company jumped 3.5% after Jefferies upgraded it to buy from hold. Wall Street Bank said investors should purchase the stock at a discount after its underperformance during the first half of the year 2023. The bank said that continuing service problems, such as a data-center outage on Friday and Saturday, are “an increasingly risky factor for future earnings.” “Nvidia
— Shares of the artificial intelligence beneficiary jumped around 3% Monday after Goldman Sachs added the semiconductor AI stock to its Americas conviction list for the month. Goldman expects Nvidia “to maintain its status as the industry standard in accelerated computing for the foreseeable. “Meta
— The Facebook and Instagram parent advanced 2.2% after Truist reiterated a buy rating on the stock. Truist said Meta should see sustained growth into the fourth quarter.Apple
— The iPhone maker rose 1.5% after JPMorgan reiterated Apple as overweight. The firm said lead times for Apple products have moderated.Amazon
— The e-commerce giant added 1.8% following UBS’ reiteration of a buy rating on the stock. UBS is bullish on Amazon’s Prime video content advertising opportunity.— CNBC’s Yun Li, Lisa Kailai Han, Pia Singh, Michelle Fox, Sarah Min and Scott Schnipper contributed reporting.