Midday movers: Nvidia, Apple and GameStop rise; Tesla, DraftKings fall

(Updated - May 28, 2024 11:41 AM EDT)

Investing.com -- U.S. stock futures edged higher Tuesday, starting the holiday-shortened week on a positive note ahead of the release of more key inflation data.

Here are some of the biggest U.S. stock movers today:

• Nvidia (NASDAQ:NVDA) stock rose 5%, with the tech giant’s stock continuing to gain, with its market value surpassing $2.5 trillion since its quarterly results, solidifying its position as the third most valuable company on Wall Street.

• Apple (NASDAQ:AAPL) stock rose 1% after the iPhone maker’s smartphone shipments in China were 52% higher in April than a year ago, according to data from a research firm affiliated with the Chinese government.

• Tesla (NASDAQ:TSLA) stock fell 1.75% following reports that proxy advisor Glass Lewis has called on shareholders to reject a proposal that would see CEO Elon Musk paid $56 billion.

• GameStop (NYSE:GME) stock soared over 22% after the video game retailer said it raked in more than $933 million from the sale of 45 million shares.

• DraftKings (NASDAQ:DKNG) stock fell 13% and Flutter Entertainment (FLUT) dropped 4.3% after the Illinois Senate passed a bill that includes a sports-betting tax hike.

• CAVA Group (CAVA) stock rose 2.3% ahead of the first-quarter earnings from the Mediterranean restaurant chain, as it rapidly opens new locations throughout the U.S. market.

• Insmed (NASDAQ:INSM) (INSM) stock more than doubled after the biopharmaceutical company announced positive results in Phase 3 trials for its drug to treat non-cystic fibrosis bronchiectasis.

• Celsius Holdings Inc. (NASDAQ:CELH) declined 17% after analysts warned of slowing sales growth.

• HubSpot (NYSE:HUBS) rose 8% on renewed takeover chatter after CNBC said it is true that Google (Nasdaq: NASDAQ:GOOGL) is interested in acquiring the company.

Additional reporting by Louis Juricic