Uber, Lyft, Biogen, Facebook, Caterpillar and more – tech2.org

Uber, Lyft, Biogen, Facebook, Caterpillar and more

The exterior of the biotechnology company Biogen’s headquarters in Cambridge, MA is featured on 21 March 2019.

John Talumki | Boston Globe | Getty Images

Check out the companies making headlines in afternoon trading.

Uber, Lyft – Riding companies’ shares jumped 13.3% and 12.8%, respectively, after initial poll estimates that California decided both companies should be exempt from a labor law aimed at drivers rather than contractors Employee is to be made.

Biogen – The biotech firm’s shares have risen by more than 40% since the Food and Drug Administration. The agency said that Biogen “provided sufficient evidence of effectiveness to support the approval.”

Caterpillar – the farm equipment maker outperformed cyclical stocks in technology and plunged more than 6% into an investor affair. The Caterpillar may be a hit as the infrastructure bill is still up in the air with an uncertain presidential election.

Facebook, Amazon, Alphabet – major tech-related companies jumped, with Amazon, Apple and Microsoft all up by at least 3%. Facebook popped up 7%, while Google-parent Alphabet jumped over 6%. Many investors are betting that a potential split Congress will avoid high taxes and tight regulation, an outcome that would be beneficial for high-growth tech stocks.

Shares of the semiconductor company rose nearly 5% after AMD – Goldman Sachs included Advanced Micro Devices in the confirmation buy list. The Wall Street firm said it sees an opportunity for investors to participate in AMD’s “multi-year share gain margin expansion story”.

Wendy’s – Fast food stock fell 5.5% from Street Food’s expectations after the company’s third quarter revenue. Wendy’s adjusted revenue of $ 452 million with revenue per share of $ 192. Analysts polled by Refinitive predicted 17 cents in earnings per share and $ 454 million in revenue. The company said that same-store sales grew 7% year-over-year.

Clean Harbors – Clean Management shares rose more than 10%, as the waste management company beat large earnings. Clean Harbers reported earnings of 90 cents per share in the third quarter, well above a FactSet estimate of 28 cents. Its revenue was in line with expectations.

DraftKings, Penn National Gaming – Sports gaming stocks skyrocketed after election results, with strong support for the expansion of sports gambling in several states, including Maryland. Shares of DraftKings climbed 5%, while Penn National rose nearly 7%.

– CNBC’s Maggie FitzGerald and Jessie Pound contributed reporting.

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