Check out the companies making headlines in midday trading. Bally's – Shares rose more than 25% after hedge fund Standard General made a buyout offer valuing the casino operator at $15 per share. That's 41.2% higher than where the stock finished last week. Oracle – Shares rose 1.6% ahead of the software giant's fiscal third-quarter earnings report due after the bell. Analysts surveyed by FactSet expect earnings per share of $1.38 and revenue of $13.29 billion. Oracle stock is up 8% year to date. Nvidia – The AI computing stock fell 1.2% on Monday, extending losses from Friday's session when Nvidia stock fell more than 5% on its worst trading day since late May. Semiconductor stocks fell as a group on Monday. Advanced Micro Devices fell 4.2%. Lam Research shares fell 3%. New York Community Bancorp – Regional bank stock fell 4.8%, extending losses after Friday's decline of more than 6%. The stock witnessed volatile trading after a $1 billion capital increase last week. Cryptocurrency stocks — companies whose performance is tied to the price of bitcoin — rose on Monday after the cryptocurrency rose to an all-time high. Cryptocurrency exchange Coinbase rose 4%. Bitcoin dealer Microstrategy's stock jumped 14% after the company bought nearly 12,000 more bitcoins for more than $821 million in cash, according to the filing. Moderna — The stock jumped more than 8% in midday trading, putting it on track for its biggest single-day gain since December. It was also the top performer in the SPDR S&P Biotech ETF (XBI) ETF. Xcel Energy – The stock rose 3.7% after Barclays upgraded the natural gas company to overweight, saying Xcel Energy is trading at an attractive discount. Duolingo – Shares rose 3.6% after JPMorgan initiated coverage of the online learning platform with an overweight rating, forecasting “excellent” revenue growth that could significantly lift Duolingo's valuation. PDD Holdings – Shares of the Chinese e-commerce company rose nearly 3% after Jefferies upgraded parent company Temu to a buy rating ahead of fourth-quarter earnings next week. The Wall Street firm said geopolitical risks were priced in after a double sell-off in stocks this year. Applied Materials – The chip stock fell 2.3% even after the semiconductor maker said it was raising its quarterly dividend 25% to 40 cents a share from 32 cents. Eli Lilly – Eli Lilly stock is down about 4% and underperformed at the start of the week. The pharmaceutical company is one of the best performers this year thanks to the power of its weight-loss drug. – CNBC's Michelle Fox, Alex Haring, Yun Li, Tanaya Machel and Pia Singh contributed reporting.
