Check out the companies making headlines in midday trading.
AmgenMorgan Stanley upgraded Amgen to overweight from equal weight, saying Amgen is “largely derisked” and provides defensiveness for investors.
Uber,LyftLabor Department proposed a new rule that could pave the way for gig workers to be reclassified as employees rather than independent contractors. The proposal could raise costs for the companies, who rely on contract workers to drive on their own schedules.
MetaAtlantic Equities downgraded the stock to neutral from overweight. The investment firm said that a weakening economy plus more competition in the digital advertising space could squeeze Meta’s revenue as the company is spending heavily on development.
— CNBC’s Michelle Fox, Alex Harring, Yun Li and Jesse Pound contributed to this report