Stocks making the biggest moves midday: Uber, Peloton, Carvana, and more

Stock market Wall Street
Stock market Wall Street

Uber – Shares of Uber jumped 12% after the company reported revenue that exceeded Wall Street’s expectations. The company also gave better-than-anticipated guidance for its fourth quarter, projecting strong bookings growth and adjusted EBITDA of $600 million to $630 million. Analysts surveyed by Refinitiv expected $568 million in adjusted EBITDA.

 Abiomed – Shares of the heart pump maker surged 50% after the company announced it has agreed to be acquired by Johnson & Johnson for $16.6 billion in cash. Johnson & Johnson is looking to boost growth at its medical devices unit after it completes plans for a spinoff of its consumer health business next year. J&J shares fell 1%.

Pfizer – Shares of the pharmaceutical giant jumped nearly 3% after the company reported stronger-than-expected earnings and issued an improved financial outlook. Pfizer said strong demand for its older drugs helped offset a drop in sales of its Covid-related products. The stock is still down about 19% this year.

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