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Biggest Stock Movers Midday: Sphere Entertainment, Riot, Instacart, Insulet and Beyond

Lanon Wee

Eyeing midday trading, shares of Sphere Entertainment rose 10% after the Las Vegas debut of its Sphere venue Friday night, billed as the latest version of an immersive and futuristic concert experience with a next-generation wraparound screen. Stocks related to digital currency trading also experienced gains, with Riot jumping 11.6%, Marathon Digital up 6.9%, Coinbase and MicroStrategy registering increases of more than 2%, and the S&P 500's biggest gainer at nearly 6% being Discover Financial Services, following the release of an 8K filing with the SEC regarding a consent agreement with the FDIC. Meanwhile, gold and silver miners such as Coeur Mining, Harmony Gold Mining, Hecla Mining and Gold Resource all dropped markedly, due to falling prices for the metals. The day's trading saw a dip of roughly 5% for Maplebear (doing business as Instacart) after The Information reported a weak second-half outlook for the firm. SolarEdge saw a 3.7% drop after a downgrade to equal weight from overweight at Barclays, and the diabetes tech company Insulet saw a 5% jump after Jefferies upgraded it to a buy. Norfolk Southern felt the effects of a Bank of America downgrade to neutral from buy, with its stock slipping 3.2%, while Nvidia made strides as it was added to Goldman Sachs' Americas conviction list for the month to the tune of a 2.7% jump. Meta advanced 1.7% after Truist reiterated a buy rating, and Apple and Amazon saw their stocks go up 1.2% and 1.6%, respectively, following reiterations of a buy rating from JPMorgan and UBS. Reporting for this story was contributed by CNBC's Yun Li, Lisa Kailai Han, Pia Singh, Michelle Fox, Sarah Min and Scott Schnipper.

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