Uber, DraftKings, Seagen, Activision Blizzard and more

Find out which companies are making the midday headlines.

Uber – The ridesharing giant saw its stock rise 11% 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 originally advertised. CEO Dara Khosrowshahi also told CNBC he expects grocery prices to drop by the end of the year.

DraftKings – Shares of DraftKings fell more than 3% after news that the online gaming giant made an offer to acquire UK sports betting company Entain. The offer is worth $ 20 billion and is largely in DraftKings stock, as well as cash, sources told CNBC.

Seagen – The drugmaker’s shares climbed more than 5% after the Food and Drug Administration announced fast-track approval of its drug TIVDAK, which treats adult patients with cervical cancer. recurrent or metastatic uterus.

Activision Blizzard – Shares of the video game company fell 2.9% after the Wall Street Journal, citing people familiar with it, reported that the Securities and Exchange Commission was investigating Activision Blizzard’s handling of misconduct allegations gender and employee discrimination.

ConocoPhillips – Shares of the energy company rose more than 3% the day after ConocoPhillips and Shell announced a $ 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 4.2% 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% on Tuesday after Piper Sandler lowered Big Lots to neutral from the overweight. The investment firm said in a note to clients that the end of fiscal stimulus and rising costs will hurt the retailer over the next year or so.

Johnson & Johnson – The drugmaker’s shares are up almost 1% after announcing that its Covid-19 booster is 94% effective when given two months after the first dose in the United States. a shot.

– with reporting from CNBC’s Yun Li, Jesse Pound, Tanaya Macheel and Hannah Miao.