Sphere Entertainment: Following a U2 concert that opened the venue’s Las Vegas Sphere on Friday night, shares of the media and entertainment company rose 11.1% in midday trading. Sphere, which was constructed by Madison Square Garden Entertainment, is billed as the most recent example of a futuristic and immersive concert venue, complete with a next-generation wraparound screen.
Bitcoin stocks: As cryptocurrency prices rose, stocks related to the trading of digital currencies also rose. Riot saw a notable 5.9% jump, and MicroStrategy, Coin base, and Marathon Digital all had slightly better finishes.
Discover Financial Services: The credit card company’s stock increased by nearly 4.9% following the disclosure of a consent agreement with the Federal Deposit Insurance Corporation in an 8K filing to the U.S. Securities and Exchange Commission.
Miners of gold and silver — Miners of gold and silver struggled on Monday as the metals’ prices fell. Hecla Mining and Coeur Mining both saw declines of more than 7%. The stock prices of Gold Resource and Harmony Gold Mining both dropped by more than 5%.
Instacart: During midday trading, Maplebear, the food delivery company operating under the Instacart brand, saw a 9.2% decline. The Wall Street bank that underwrote Instacart’s initial public offering predicted a weak second-half outlook with slower revenue growth and lower profits, according to a report published on Monday in The Information, which cited people familiar with the matter. Gordon Haskett began covering the company separately and assigned a hold rating.
SolarEdge — Shares fell 5.4% after Barclays downgraded the company from overweight to equal weight. According to the company, price reductions are probably coming within the next year.
Insulet: After Jefferies upgraded the diabetes tech company to buy from hold, its shares increased by 3.5%. Following the stock’s poor performance in the first half of 2023, the Wall Street bank advised investors to purchase the dip.
Southern Norfolk — Following Bank of America’s downgrade of the railroad stock from buy to neutral, it fell 2.8%. A data center outage that occurred Friday through Saturday was one of the ongoing service issues that the bank cited as “an increasing risk to future earnings.”
Nvidia—Shares of the AI-beneficiary surged by about 3% on Monday, following Goldman Sachs’ addition of the semiconductor AI stock to its Americas conviction list for the current month. For the foreseeable future, Goldman predicted, Nvidia will “maintain its status as the accelerated computing industry standard.”
Meta — The parent company of Facebook and Instagram increased 2.2% following Truist’s reaffirmation of a buy rating for the shares. According to Truist, Meta should continue to grow through the fourth quarter.
Apple: Following JPMorgan’s reaffirmation that Apple is overweight, the maker of the iPhone saw a 1.5% increase. According to the company, lead times for Apple goods have slowed down.
Amazon: The behemoth of the online retail industry gained 1.8% after UBS reiterated its buy recommendation on the shares. UBS is optimistic about the advertising potential of Amazon’s Prime video content.
