Midday movers: Alibaba, Oscar Health, PVH and more
By Liz Moyer
Investing.com -- Stocks were heading lower on Tuesday as bond yields rose and dinged tech stocks. Here are the midday movers for March 28.
- Alibaba Group Holdings Ltd ADR (NYSE: BABA ) shares rose 14% after the Chinese e-commerce giant said it would split into six divisions, including e-commerce and cloud. Each unit would be able to find its own funding, including a possible initial public offering.
- Oscar Health Inc (NYSE: OSCR ) shares jumped 64% after the insurer said Aetna's former CEO, Mark Bertolini, would become its CEO in April.
PVH Corp (NYSE: PVH ) stock rose 19% after the parent of fashion brands Tommy Hilfiger and Calvin Klein beat fourth-quarter estimates for adjusted profit and revenue.
- Walgreens Boots Alliance Inc (NASDAQ: WBA ) shares rose 3.7% after the drugstore chain reported better-than-expected second-quarter adjusted earnings and sales.
Occidental Petroleum Corporation (NYSE: OXY ) shares rose 4% after Warren Buffett's Berkshire Hathaway (NYSE: BRKa ) revealed it raised its stake to 23.5% after acquiring 3.7 million shares.
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