Uber, DraftKings, Seagen, Activision Blizzard and more

Uber shares up 6% as it revises upward outlook

Uber CEO Dara Khosrowshahi speaking at a product launch event on September 26, 2019 in San Francisco, California.

Philippe Pacheco | AFP via Getty Images

Learn more about the companies that make the headlines in mid-day trading.

Uber – The ridesharing giant saw its share rise 11.5% after the company improved its financial outlook for the third quarter on a regulatory filing. Uber’s bookings and adjusted earnings are now expected to be better than previously announced. CEO Dara Khosrowshahi also told CNBC he expects grocery prices to drop by the end of the year.

DraftKings – Shares of DraftKings fell 7.4% following news that the online gaming giant made an offer to acquire UK sports betting company Enten. Sources told CNBC that the offer is worth $ 20 billion and is mostly made up of DraftKings shares.

Cezanne – The drugmaker’s shares rose 3.7% after the Food and Drug Administration announced fast-track approval of its drug TIVDAK, which treats adult patients with recurrent cervical cancer or metastatic.

Activision Blizzard – Shares of the video game company fell 4.1% after the Wall Street Journal, which cited people familiar with the matter, reported that the Securities and Exchange Commission was investigating Activision Blizzard’s treatment of allegations of employee sexual misconduct and discrimination.

ConocoPhillips – Shares of the energy company rose 4% after ConocoPhillips & Shell announced the $ 9.5 billion sale of West Texas oilfield assets to ConocoPhillips. The deal gives ConocoPhillips an additional 225,000 acres of energy assets. Royal Dutch Shell shares traded in London also rose.

AutoZone – Shares of AutoZone rose 3.7% after the auto parts retailer reported strong quarterly earnings. Earnings per share of $ 35.72 beats analyst estimates by $ 29.88.

Big Lots – Retail stocks fell more than 5.9% on Tuesday after Piper Sandler lowered Big Lots from overweight to neutral. The investment firm said in a note to clients that the end of fiscal stimulus and rising costs will hurt the retailer next year.

Johnson & Johnson – The drugmaker’s shares rose nearly 1% after the United States announced that a Covid-19 booster was 94% effective when given two months after the first dose. The company said the booster increases antibody levels four to six times. At a time.

– With reporting from CNBC’s Yun Lee, Jesse Pound, Tanaya Machiel and Hannah Miao.

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