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 in Tuesday’s midday trading.

Change Healthcare: Shares of Change Healthcare rose 6.4% after a federal judge said UnitedHealth cannot take over the company. UnitedHealth fell in the news on Tuesday.

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

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 supply chain issues. Ford’s operations were also affected by a strike by dock workers in the UK that began on Tuesday.

PayPal: The payments stock fell 3.3% after Susquehanna downgraded PayPal to neutral from positive. Susquehanna said growth at PayPal’s Braintree unit will likely hurt overall margins.

BioNTech, Moderna – Shares of vaccine makers recovered after falling on Monday, when President Joe Biden commented that the pandemic was over. BioNTech rose 1.2% and Moderna rose 3.4%.

Humana: Shares of health care company Humana gained 1% to hit an all-time high a day after the company raised its earnings guidance for the fiscal year. Morgan Stanley also upgraded the company, which it said could be the largest retail drug plan for Medicare Advantage.

Cognex: Shares of machine vision systems maker Cognex rose nearly 7% after the company raised its revenue outlook for the current quarter. The updated earnings come after the company bounced back faster than expected from a fire at one of its top manufacturers.

Oxford Industries: The parent of Tommy Bahama and Lily Pulitzer rose 6.8% after making a $270 million acquisition that will boost earnings and raise its third-quarter guidance.

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

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

Nike – Shares in the sportswear retailer fell about 4% after Barclays downgraded the stock to match overweight. The firm noted that Nike’s continued volatility in China and eroding demand in North America and elsewhere could weigh on the stock.

Western Digital: Western Digital shares fell 2.4%, hitting a new 52-week low, after Deutsche Bank downgraded the storage company to hold from buy, citing soft demand .

Wynn Resorts, Las Vegas Sands: Casino stocks outperformed the S&P 500 on Tuesday, with Wynn Resorts advancing 3.6% and Las Vegas Sands up 2%. They were among just 15 stocks in the broader market index trading in positive territory, according to FactSet.

MicroStrategy: Shares of software company MicroStrategy fell 4.6% after the company announced it made its smallest Bitcoin purchase in two years. The company bought 301 bitcoins for about $6 million, according to a Tuesday filing.

General Motors – GM shares fell 4% after the company said it 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

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