Change Healthcare, Ford, PayPal, Humana and more

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

Jeff Kowalsky | AFP | Getty Images

Check out the companies making headlines on Tuesday at noon.

Change Healthcare – Shares of Change Healthcare jumped 6.4% after a federal judge ruled UnitedHealth could not take over the company. UnitedHealth slipped to the news on Tuesday.

investment related news

CNBC Pro
Pro Picks: Watch all of Monday’s big stock calls on CNBC

Ford – Shares of the auto giant fell 10.6% after the company told investors its third-quarter costs were $1 billion higher than expected due to inflation and issues of supply chain. Ford’s operations have also been hit by a strike by dockworkers in the UK which began on Tuesday.

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

BioNTech, Moderna — Stocks of vaccine makers rebounded after falling Monday when President Joe Biden made a comment that the pandemic was over. BioNTech grew by 1.2% and Moderna by 3.4%.

Humana – Shares of healthcare company Humana gained 1% and hit a record high a day after the company raised its profit forecast for the fiscal year. The company was also upgraded by Morgan Stanley, which said it may be the best retail drug plan for Medicare Advantage.

Cognex – Shares of machine vision maker Cognex jumped nearly 7% after the company raised its revenue outlook for the current quarter. The earnings update comes after the company recovered faster than expected from a fire at one of its key manufacturers.

Oxford Industries – The parent company of Tommy Bahama and Lily Pulitzer jumped 6.8% after completing a $270 million acquisition that will boost profits and raise its third-quarter guidance.

Olin – The manufacturing company fell 4.6% after it released its third-quarter EBITDA guidance. Olin sees adjusted EBITDA of $530 million to $550 million in the third quarter, down about 15% from the second quarter.

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

Nike – Shares of the sportswear retailer fell around 4% after Barclays downgraded the stock to an equal weight to overweight. The company noted that Nike’s continued volatility in China and eroding demand in North America and elsewhere could weigh on stocks.

Western Digital – Shares of Western Digital fell 2.4% to a new 52-week low after Deutsche Bank downgraded the storage company from being bought, citing a slowdown in the market. request.

Wynn Resorts, Las Vegas Sands – Casino stocks were the best performers in the S&P 500 on Tuesday, with Wynn Resorts rising 3.6% and Las Vegas Sands up 2%. They were among just 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 it had made its smallest Bitcoin purchase in two years. The company purchased 301 bitcoins for about $6 million, according to a filing filed Tuesday.

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

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