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. Th …
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[mwai_chat context=”Let’s have a discussion about this article:nnCheck 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. Th …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
