CVS, Credit Suisse, AMD, Lyft and extra

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Omar Marques | LightRocket | Getty Images

Check out the businesses making headlines in noon buying and selling Friday.

Ambac Financial Group – Shares of the municipal bond insurer shot up 15.7% on information of settlements with Bank of America that might carry Ambac $1.84 billion. The settlements come out of lawsuits associated to the bond insurance coverage insurance policies Ambac used for Bank of America previous to the 2008 monetary disaster. Bank of America was down about 2.4%.

Levi Strauss – Levi’s dropped 11.7% to a 52-week low after slicing its full-year gross sales and revenue outlook Thursday, because the clothes maker cited points stemming from the availability chain and the stronger U.S. greenback.

DraftKings – Shares of DraftKings rose 3.3% on a Bloomberg report that the net sports activities betting firm is near a partnership take care of ESPN.

Lyft – The rideshare firm slid 8.7% after RBC downgraded the inventory to sector carry out from outperform. RBC mentioned competitor Uber, which was down about 4.5%, had “structural benefits.”

CVS Health – Shares of CVS dropped 10.5% following a report that the well being care large is in “unique talks” to purchase Cano Health. The firm had already been falling after the Centers for Medicare and Medicaid Services downgraded one in every of its Aetna Medicare Advantage plans in its annual scores. Shares of Cano gained 9%.

Tesla, Twitter – The two companies continued to maneuver following per week of reports on Elon Musk reviving his high-profile plans to buy Twitter. Tesla fell 6.3%, whereas Twitter misplaced 0.2%. On Thursday, a choose mentioned Musk wants to finish his buy by Oct. 28 to keep away from a trial.

Credit Suisse – The European financial institution was up 13.1% after providing to purchase again $3 billion in debt securities Friday and promote a well-known resort it owns. It marks one other day of tumult for shares of the inventory — which hit an all-time low earlier within the week — as market observers questioned the financial institution’s well being.

DexCom – Shares of the producer of glucose monitoring units jumped 7.3% after the Centers for Medicare and Medicaid Services up to date a neighborhood protection willpower associated to such units. The transfer might increase the underside line for DexCom, a key participant within the steady glucose monitoring area.

Apple – The tech large was down 3.7% regardless of Morgan Stanley reiterating the inventory as obese, noting elevated lead occasions for the iPhone. People following the corporate have raised concern over the efficiency of the brand new line of iPhones in comparison with earlier rollouts as Apple yanked plans to extend manufacturing.

Meta – The Facebook proprietor additionally slid 4% regardless of being reiterated as a purchase by Citi, which famous an interesting threat/reward outlook as Reels income will increase and new advert codecs come into play. The inventory hit a 52-week low.

Cannabis corporations – Shares of hashish corporations have been all down, after initially hovering on information that President Joe Biden desires a assessment of how marijuana is assessed below federal legislation. Biden additionally introduced he’ll pardon 1000’s convicted of marijuana possession. Tilray Brands, which reported a larger-than-expected quarterly loss on Friday, was down 18.8%. Canopy Growth plunged greater than 25.6%, Aurora Cannabis fell 12.8% and Cronos Group misplaced 15.6%.

Advanced Micro Devices – Shares of Advanced Micro Devices plummeted 13.4% after the semiconductor firm issued disappointing preliminary outcomes for the third quarter and mentioned it expects income to fall in need of its earlier $6.7 billion greenback forecast. AMD blamed the shortfall on weakening PC demand and provide chain constraints. Shares of different chip corporations together with Intel and Nvidia fell on the information.

Unity Software – Shares of Unity, recognized for its software program for three-dimensional design, dropped 8.6%. It contrasts with Needham earlier Friday initiating the inventory as a purchase with an upside of 39%.

Provention – Shares of the biopharmaceutical firm leaped 11.3%, persevering with to rally on information Thursday of plans to launch a drug candidate for kind 1 diabetes.

— CNBC’s Samantha Subin, Michelle Fox, Carmen Reinicke, Tanaya Macheel and Yun Li contributed reporting.

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