Midday movers: Lululemon Athletica, CinCor Pharma, Exact Sciences and more

Investing.com

9 January 2023 at 8:28 am·1-min read

By Liz Moyer

Investing.com -- Stocks were higher on Monday as fading fears about interest rates lifted tech shares. Here are the midday movers for Jan. 9.

Lululemon Athletica Inc (NASDAQ:LULU) shares fell 8.6% after the athleisure apparel retailer forecast a drop in gross margins in the holiday quarter after discounting and higher costs. It did raise its outlook for fourth-quarter net revenue to a range between $2.66 billion and $2.70B compared with an earlier forecast for $2.61B to $2.66B. CinCor Pharma Inc (NASDAQ:CINC) stock shot up 146% after the developer of hypertension and other cardio treatments agreed to a $1.8B takeover from AstraZeneca (NASDAQ:AZN). In other deal news on Monday, insurance software maker Duck Creek Technologies Inc (NASDAQ:DCT) agreed to a $2.6B take private by Vista Equity Partners.

EXACT Sciences Corporation (NASDAQ:EXAS) shares rose 21% after the maker of the Cologuard at-home colon cancer test said expected revenue in the most recent quarter rose 28%, higher than expectations.

Goldman Sachs Group Inc (NYSE:GS) shares rose 2% as the Wall Street investment bank prepares to cut more than 3,000 jobs amid a slowdown in deal activity.

Alibaba Group Holdings Ltd ADR (NYSE:BABA) shares rose 4% after the Chinese e-commerce giant's co-founder Jack Ma is reported to give up control of the fintech firm Ant Group after a government crackdown on big tech.

Midday movers: Lululemon Athletica, CinCor Pharma, Exact Sciences and more

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