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Changing Healthcare, Ford, PayPal, Humana and more


Ford Motor Company’s F-150 Lightning on the production line at their Rouge Electric Vehicle Center in Dearborn, Michigan on September 8, 2022.

Jeff Kowalsky | AFP | beautiful pictures

Check out the companies that hit the headlines in Tuesday’s midday trading.

Changing healthcare services Shares of Change Healthcare jumped 6.4% after a federal judge said UnitedHealth could not take over the company. UnitedHealth fell on Tuesday because of the news.

Ford – Shares of the auto giant fell 10.6% after the company told investors its Q3 expenses were $1 billion higher than expected due to Inflation and supply chain problems. Ford’s operations were also affected by UK workers’ strike begins on Tuesday.

PayPal – Payment shares fell 3.3% after Susquehanna downgraded PayPal to neutral from positive. Susquehanna said the growth of PayPal’s Braintree unit is likely to hurt overall profits.

BioNTech, Moderna – Shares of vaccine makers rebounded after sliding on Monday, when President Joe Biden made a comment that the pandemic was over. BioNTech is up 1.2% and Moderna is up 3.4%.

Humana – Shares of health company Humana rose 1% and hit an all-time high a day after the company rallied income guide for the financial year. The company was also upgraded by Morgan Stanley, who said it could leading retail drug plan for Medicare Advantage.

Cognex – Shares of machine vision systems maker Cognex jumped nearly 7% after the company raised its revenue outlook for the current quarter. The updated revenue comes after the company recovered more quickly than expected from a fire at one of its main manufacturers.

Oxford Industries Tommy Bahama and Lily Pulitzer’s parent company jumped 6.8% after making a $270 million acquisition that will boost earnings and raise its third-quarter forecast.

Olin – Manufacturing fell 4.6% after issuing Q3 EBITDA guidance. Olin sees third-quarter adjusted EBITDA of $530 million to $550 million, down about 15% from the second quarter.

Apogee Enterprises – The building materials maker rose 5.5% after earnings topped analysts’ estimates and it raised its financial forecast.

Nike – The sportswear retailer’s stock fell about 4% after Barclays downgraded the stock to the same level due to overweight. The company pointed out that Nike’s continued volatility in China and demand erosion in North America and elsewhere could affect the stock.

Western Digital – Western Digital shares drop 2.4%, hit 52-week low, behind Deutsche Bank Downgrade hosting company to keep from buying, citing reduced demand.

Beach Hotels in Wynn, Las Vegas Sands Casino stocks were the better performers in the S&P 500 on Tuesday, with Wynn Resorts up 3.6% and Las Vegas Sands up 2%. They are just one of 15 stocks in the broader market index that are trading in positive territory, according to FactSet.

MicroStrategy – Shares of software company MicroStrategy fell 4.6% after the company announced that it made its smallest Bitcoin purchase in two years. The company purchased 301 bitcoins for about $6 million, according to Tuesday’s filing.

Synthetic engine – GM shares fell 4% after the company announced plans to sell up to 175,000 electric vehicles to car rental company Hertz until 2027.

– CNBC’s Jesse Pound, Tanaya Macheel, Scott Schnipper Sarah Min and Alex Harring contributed reporting



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