Uber CEO Dara Khosrowshahi speaks at a product launch event in San Francisco, California on September 26, 2019.
Philip Pacheco | 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’s bookings and adjusted earnings are now expected to be better than first 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. The offer is worth $20 billion and is largely in DraftKings stock, along with cash, sources told CNBC.
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. The deal gives ConocoPhillips an additional 225,000 acres of energy assets. The London-traded shares of Royal Dutch Shell also moved higher.
AutoZone – Shares of AutoZone rose 4.2% after the auto parts retailer reported strong quarterly earnings. Earnings per share of $35.72 beat analysts’ 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. The investment firm said in a note to clients that the end of fiscal stimulus and rising costs would hurt the retailer over the next 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. The company said the booster increases antibody levels four to six times higher than just one shot.
— with reporting from CNBC’s Yun Li, Jesse Pound, Tanaya Macheel and Hannah Miao.
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