Check out the companies making the biggest moves midday: MGM Resorts International — Shares surged 16% after Barry Diller's People Inc. made an offer to buy the company for $48.30 per share in cash. Diller, who also sits on MGM's board, said he will recuse himself from board discussions on the proposal. Zoom Communications — The work platform jumped more than 11% after Anthropic, which Zoom was an early investor in, confidentially filed a prospectus for an initial public offering with regulators. Veeva Systems — The cloud-based software company with a focus on life sciences saw shares jump almost 9%, heading for its third straight winning day. Veeva is slated to report first-quarter results on Wednesday. The FactSet consensus expects the company to post earnings of $2.14 per share on revenue of $857.7 million, with both metrics landing within the range of Veeva's earlier guidance. Humana — The health insurer gained 8% after reaffirming its guidance. Humana anticipates full-year adjusted earnings of at least $9 per share, according to a filing with the Securities and Exchange Commission. That surpasses the FactSet consensus call for $8.93 per share. Viasat — The global satellite communications provider sank 11% after filing a shelf registration Friday with the Securities and Exchange Commission to sell stock or debt. ViaSat has soared 730% in the past 12 months. Nvidia , Microsoft — The hyperscalers were rising after Nvidia, in a collaboration with Microsoft, revealed a new processor for personal computers . Nvidia was up 4%, while Microsoft was rising 2%. Dell , HP , Arm — Derivatives of Nvidia's computer chip announcement were also jumping on the news. Dell and HP, which are set to manufacture computers featuring the new chip, rose 8% each. Arm, whose technology was used by Nvidia to develop the new chip, skyrocketed 17%. Qualcomm , Intel , Advanced Micro Devices — As Nvidia rose, its chipmaking competitors fell. Qualcomm tumbled 7%, while Intel shed more than 3%. AMD was off more than 1%. Taylor Morrison Home — Shares surged 22% after Berkshire Hathaway agreed to acquire the company for $6.8 billion. Berkshire CEO Greg Abel called Taylor Morrison a best-in-class homebuilder and said the addition to the company's portfolio will help deliver homeownership to more Americans. Berkshire shares were slightly lower. International Business Machines — Shares jumped 9% after Barclays initiated coverage at an overweight rating. Analysts said quantum computing is set to be the next major compute paradigm, and IBM's strategy on the technology is compelling. Melius Research also hiked its price target on IBM. Software stocks — The software rally gained steam in the first trading day of June as the iShares Expanded Tech-Software Sector ETF (IGV) rose 5.2%. ServiceNow was up 9%. Workday and Adobe climbed 7% and 6%, respectively. Salesforce jumped 10%. Robinhood , Coinbase — The trading platforms were down as Bitcoin prices fell below $73,000, the lowest levels since mid-April. Robinhood fell 3.2%, while Coinbase declined nearly 2%. — CNBC's Darla Mercado, Alex Harring and Scott Schnipper contributed reporting.
<small>Source: CNBC</small>
