Major Midday Movers: Akamai, Genius Sports, and People Inc Lead Market Shifts

Akamai Technologies rose 5% following a seven-year, $11.6 billion contract with Anthropic. The company also issued a warrant allowing Anthropic to purchase up to 5% of its shares at $111.33 per share. Atlas Energy Solutions surged 17% after announcing that two subsidiaries signed cost reimbursement agreements with a leading frontier AI laboratory. Genius Sports jumped 13% after JPMorgan initiated coverage with an overweight rating, citing the company’s scarce combo of diversified above-market growth, strong execution, improving profitability and free cash flow, and attractive valuation. Twilio fell roughly 6% after HSBC downgraded its rating to a sell equivalent, with analyst Sameer Lam noting the stock looks expensive compared to alternatives like Microsoft and Salesforce. People Inc., owned by Barry Diller, climbed 10% after reports that MGM Resorts is considering a bid to acquire the publisher, while MGM’s shares fell 2%. Scholastic shares dropped 9% after the company reported an adjusted loss of $3.63 per share in its fiscal first quarter, compared to a $2.52 loss a year earlier, with revenue declining 4% year-over-year to $216.8 million. Costco Wholesale shares rose 2.7% after beating fourth-quarter expectations, earning an adjusted $6.60 per share on $95.72 billion in revenue. Microsoft shares gained 3% after launching a refreshed Copilot app to compete with Anthropic’s Claude and drive enterprise subscriptions. Meta Platforms fell over 3% as investors took profits, despite a 12% weekly gain driven by the popularity of its AI product, Muse.

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