Dara Khosrowshahi, CEO of Uber, speaks at a product launch event in San Francisco, California on September 26, 2019.
Philip Pacheco | AFP via Getty Images
Check out the companies that are making the headlines in midday trading.
Uber – The ride-hailing giant saw its stock jump 11% after the company raised its third-quarter financial outlook in a regulatory filing. Uber's bookings and adjusted earnings are now expected to be better than initially reported. CEO Dara Khosrowshahi also told CNBC that he sees a decline in rising fares by the end of the year.
DraftKings – DraftKings' shares fell more than 3% after it was revealed that the online gaming giant made an offer to acquire UK sports betting company Entain. The offering is valued at $ 20 billion and is largely in DraftKings stock, along with cash, sources told CNBC.
Seagen – The drugmaker's shares rose more than 5% after it was announced that the Food and Drug Administration granted accelerated approval of its drug TIVDAK, which treats adult patients with recurrent or metastatic cervical cancer.
Activision Blizzard – The video game company's shares fell 2.9% after the Wall Street Journal reported, citing known people, that the Securities and Exchange Commission is investigating Activision Blizzard's handling of allegations of sexual misconduct and discrimination against employees.
ConocoPhillips – The energy company's shares rose over 3% the day after ConocoPhillips and Shell announced a $ 9.5 billion sale of West Texas oilfield assets to ConocoPhillips. The transaction gives ConocoPhillips an additional 225,000 acres of energy systems. Royal Dutch Shell shares traded in London also rose.
AutoZone – AutoZone's shares rose 4.2% after the auto parts dealer reported strong quarterly earnings. Earnings per share of $ 35.72 beat analysts' estimate of $ 29.88.
Big Lots – The retail stock fell more than 5% on Tuesday after Piper Sandler downgraded Big Lots from overweight to neutral. The investment firm said in a statement to customers that the end of fiscal incentives and rising costs would hurt retailers over the next year.
Johnson & Johnson – The drug maker's shares rose nearly 1% after it was revealed that its Covid-19 booster vaccine is 94% effective when given in the US two months after its first dose, a shot.
– with reports from Yun Li, Jesse Pound, Tanaya Macheel and Hannah Miao from CNBC.
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