Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.06%) is in last place on Wednesday afternoon, up about 5 points.

Briefly, S&P 500 constituents Insulet (PODD 144.73, -9.07, -5.90%), Rollins (ROL 50.34, -2.82, -5.30%), and Skyworks (SWKS 79.28, -4.14, -4.96%) dot the bottom of the standings. PODD falls after disclosing a voluntary correction affecting about 7 million Omnipod devices tied to potential insulin under-delivery risks, prompting concerns over patient safety, up to $50 million in related costs, ROL slides on news that CFO Kenneth Krause plans to resign effective June 15.

Meanwhile, AppLovin (APP 571.24, +57.00, +11.09%) is today's top gain getter after bullish commentary from Morgan Stanley highlighted rising ad conversion rates and significant long-term revenue upside potential driven by AI-powered ad optimization.