U.S. stocks swing on takeover bids, IPO filing and chip launch

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Ashutosh Sureka

01.06.2026

U.S. stocks swing on takeover bids, IPO filing and chip launch — Stocks surge on major news

Midday trading in U.S. equities is being driven by a mix of takeover activity, capital markets developments and new technology announcements across gaming, software and semiconductors. MGM Resorts, Zoom, Nvidia-linked hardware names and IBM are among the biggest gainers, while Viasat and several chip rivals are under pressure.

Highlights

MGM Resorts International surges 16% after Barry Diller’s People Inc. submits a $48.30 per share cash buyout offer, with Diller recusing himself from discussions.
Taylor Morrison Home jumps 22% after Berkshire Hathaway agrees to acquire it for $6.8 billion, while Zoom Communications gains 11% on news of Anthropic’s confidential IPO filing.
Nvidia rises 4% and Microsoft adds 2% after unveiling a new PC processor, boosting Dell and HP by 8% each and Arm by 17%, while pressuring rival chipmakers Qualcomm, Intel, and AMD.

Deal activity and filings move individual names

As reported by CNBC, MGM Resorts International shares are up 16% after Barry Diller’s People Inc. offers to buy the company for $48.30 per share in cash. Diller, who also sits on MGM’s board, says he will recuse himself from board discussions on the proposal.

Zoom Communications climbs more than 11% after Anthropic, in which Zoom was an early investor, confidentially files a prospectus for an initial public offering with regulators. Humana gains 8% after reaffirming guidance in a filing with the Securities and Exchange Commission, saying it expects full-year adjusted earnings of at least $9 per share, above the FactSet consensus of $8.93.

Viasat drops 11% after filing a shelf registration on Friday with the Securities and Exchange Commission to sell stock or debt. Taylor Morrison Home jumps 22% after Berkshire Hathaway agrees to acquire the company for $6.8 billion, with Berkshire Chief Executive Greg Abel calling the homebuilder best in class.

Chip and software shares lead broader sector rotation

Nvidia rises 4% and Microsoft adds 2% after the companies unveil a new processor for personal computers. The announcement also lifts Dell and HP, both up 8% as manufacturers set to produce computers with the new chip, while Arm surges 17% because its technology is used in the processor’s development.

The move is pressuring rival chipmakers. Qualcomm falls 7%, Intel loses more than 3% and Advanced Micro Devices declines more than 1% as investors react to Nvidia’s latest push into personal computing.

Software shares are also advancing on the first trading day of June, with the iShares Expanded Tech-Software Sector ETF, IGV, up 5.2%. ServiceNow gains 9%, Workday rises 7%, Adobe adds 6% and Salesforce jumps 10%, while IBM climbs 9% after Barclays starts coverage with an overweight rating and Melius Research raises its price target, citing quantum computing potential.

In our earlier article on People Inc’s cash bid for MGM Resorts, we detailed Barry Diller’s proposal to buy the remaining shares for $48.30 per share and potentially take the casino operator private at a valuation above $18 billion. We also highlighted People Inc’s existing stake and board presence at MGM, along with the market’s immediate repricing of MGM shares on the takeover speculation.

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