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Midday Movers: Uber Technologies, Intuit, Abiomed and More

By Liz Moyer

Investing.com -- Stocks fell after a stronger than expected report on job openings in September, and as investors awaited Wednesday's decision on interest rates by the Federal Reserve. Here are the midday movers for Nov. 1:

Uber Technologies Inc (NYSE:UBER) shares rose 13% after the ride-hailing platform reported a third quarter loss, largely on the revaluations of its investments, and gave an upbeat outlook for the fourth quarter, forecasting bookings to rise in a range of 23% to 27% from the same period last year.

Intuit Inc (NASDAQ:INTU) shares fell 8.8% after news that it was slowing hiring in its Credit Karma division as sales growth slows heading into 2023.

Abiomed Inc (NASDAQ:ABMD) shares surged 50% after Johnson&Johnson (NYSE:JNJ) revealed a $16.6 billion deal to acquire the heart pump and medical device maker. Johnson&Johnson is looking to beef up its devices business as it prepares to spin off its consumer health business.

Eli Lilly and Company (NYSE:LLY) shares fell 4.7% after it lowered its forecast for year-end results, citing a strong dollar. It cut its EPS forecast to $7.70 from $7.85, which is below its previous forecast and the average expected by analysts of $7.97.

SoFi Technologies Inc. (NASDAQ:SOFI) shares rose 9% after the fintech reported revenue of $424 million, handily beating the consensus. It also reported a narrower than expected quarterly EPS loss and raised its full-year profit forecast.

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