Uber, DraftKings, Seagen, Activision Blizzard and more
Uber CEO Dara Khosrowshahi speaks at a product launch event in San Francisco, California on September 26, 2019.
AFP Via Getty Images See the top companies in trading at midday.| AFP via Getty Images
Check out the companies making headlines in midday trading.
Uber — The ride-hailing giant saw its stock surging 11% after the company boosted its third-quarter financial outlook in a regulatory filing. Uber is now expecting its bookings to rise and that adjusted earnings will improve than previously reported. CEO Dara Khosrowshahi also told CNBC that he sees surging ride prices easing up by the end of the year.
DraftKings — Shares of DraftKings fell more than 3% after news that the online gaming giant made a bid to acquire U.K. sports betting company Entain. According to sources, the $20 billion offer includes DraftKings stock as well as cash.
Seagen — The drugmaker’s shares popped more than 5% after announcing the Food and Drug Administration granted accelerated approval of its drug TIVDAK, which treats adult patients with recurrent or metastatic cervical cancer.
Activision Blizzard — Shares of the video gaming company sunk 2.9% after the Wall Street Journal, citing people familiar, reported that the Securities and Exchange Commission is investigating Activision Blizzard’s handling of employees’ allegations of sexual misconduct and discrimination.
ConocoPhillips — Shares of the energy company rose over 3% the day after ConocoPhillips and Shell announced a $9.5 billion sale of West Texas oil field assets to ConocoPhillips. ConocoPhillips now has 225,000 more acres of assets. Royal Dutch Shell’s shares, which are traded on London exchanges, also increased.
AutoZone – Shares of AutoZone rose 4.2% after the auto parts retailer reported strong quarterly earnings. The earnings per share were $35.72, which beat analyst estimates of $29.88.
Big Lots — The retail stock dropped more than 5% on Tuesday after Piper Sandler downgraded Big Lots to neutral from overweight. In a note sent to clients, the investment company stated that ending fiscal stimulus would cause rising costs and hurt retailers over the coming year.
Johnson & Johnson — Shares of the drugmaker rose nearly 1% after announcing its Covid-19 booster shot is 94% effective when administered two months after the first dose in the U.S. Company claims boosters can increase antibodies levels up to four-to six times more than a single shot.
— with reporting from CNBC’s Yun Li, Jesse Pound, Tanaya Macheel and Hannah Miao.
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