Check out the companies making the biggest moves midday: GameStop — Shares jumped nearly 23% following the video game retailer’s announcement on Friday that it made about $933 million from a stock sale. Gambling stocks — DraftKings and U.S.-traded shares of FanDuel parent Flutter Entertainment fell 10% and 7%, respectively. Illinois Senate approved the state’s budget over the weekend, which includes a measure that would raise taxes on sports betting, implementing a progressive tax rate for sports-betting companies based on their revenue. U.S. Cellular — Shares added 7% after the telecom company announced T-Mobile will acquire its wireless operations and 30% of spectrum assets for $4.4 billion. The deal is expected to close midway through next year. T-Mobile was up less than 1%, while Telephone and Data Systems , which owns 84% of U.S. Cellular, slipped 2%. Insmed — The stock soared nearly 105% after the biopharma company announced results of its late-stage trial for its chronic lung disease drug candidate, brensocatib . The study found the drug significantly reduced the annualized rate of pulmonary exacerbations in noncystic fibrosis bronchiectasis. Insmed plans to file for U.S. Food and Drug Administration approval in the fourth quarter. Agios Pharmaceuticals — Shares popped 21% after Agios said it will sell the rights to its 15% royalty on brain cancer drug vorasidenib to Royalty Pharma for $905 million. The company said it will retain a 3% royalty on annual U.S. net sales greater than $1 billion. Duolingo — Shares rallied 8.7% following an upgrade from JMP to outperform. The firm thinks Duolingo Max, the e-learning company’s new subscription tier, and artificial intelligence tailwinds could drive shares higher. Semler Scientific — The medical technology stock surged more than 30% after the company said it has adopted bitcoin as its primary treasury reserve asset, taking a page out of MicroStrategy’s playbook. Semler also announced the purchase of 581 bitcoins for about $40 million. Nvidia — The artificial intelligence darling advanced 7%, continuing its rally after the chipmaker’s quarterly earnings report last Wednesday. On Saturday, The Information reported Elon Musk’s AI startup xAI, which recently raised $6 billion, plans to build a new supercomputer. Norwegian Cruise Line — The cruise stock rose 3% after an upgrade to buy from neutral at Mizuho. The investment firm said Norwegian has an improved outlook for earnings growth and
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