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

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

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