© Reuters.
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:) 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:) stock shot up 146% after the developer of hypertension and other cardio treatments agreed to a $1.8B takeover from AstraZeneca (NASDAQ:). In other deal news on Monday, insurance software maker Duck Creek Technologies Inc (NASDAQ:) agreed to a $2.6B take private by Vista Equity Partners.
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EXACT Sciences Corporation (NASDAQ:) 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.
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Goldman Sachs Group Inc (NYSE:) shares rose 2% as the Wall Street investment bank prepares to cut more than 3,000 jobs amid a slowdown in deal activity.
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Alibaba Group Holdings Ltd ADR (NYSE:) 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.
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