Midday Movers: Walgreens Boots Alliance, Wynn Resorts, Uber Technologies and More
Stock Markets 14 minutes ago (Oct 11, 2022 01:26PM ET)
By Liz Moyer
Investing.com — Stocks reversed early losses and were trading higher on Tuesday as investors await the latest inflation data. Here are the market movers for Oct.11:
Walgreens Boots Alliance Inc (NASDAQ:) shares rose 3.7% and helped buoy the Dow after news the drug store chain will buy the rest of home care provider CareCentrix it doesn’t already own.
Wynn Resorts Limited (NASDAQ:) shares fell more than 7% amid new Covid-19 lockdowns in China, where the gambling hub is based. Shanghai and other big Chinese cities, including Shenzhen, have increased testing as infections spike and some places are closing schools, entertainment venues and tourist spots, Reuters reported.
Uber Technologies Inc (NYSE:) stock fell 7% after the Labor Department proposed new rules that could classify gig workers as employees rather than independent contractors. Shares of LYFT Inc (NASDAQ:) fell 8%. Both ride-hailing companies rely on gig workers.
Zscaler Inc (NASDAQ:) shares fell 5% after its president Amit Sinha said he would resign to pursue a CEO job at a private tech company, though he will continue to be on Zscaler’s board.
- Occidental Petroleum Corporation (NYSE:) shares fell 0.6% as prices shed 2% on concerns about global growth after China’s latest shutdowns and warnings from the International Monetary Fund that growth could slow to 2.7% next year.