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Stocks making the biggest moves midday: Amgen, Uber, Lyft, Zscaler and more

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A sign marks a rendezvous location for Lyft and Uber users at San Diego State University in San Diego, California, May 13, 2020.
Mike Blake | Reuters

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.

Walgreens Boots Alliance

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.

Wynn ResortsLas Vegas Sands

Leggett & Platt

BilibiliBernstein downgraded the stock to underperform from market perform, citing balance sheet risk.

Zscaler

NetflixBank of America reiterated an underperform rating on Netflix ahead of its earnings next week, saying that the streaming company’s advertising tier continues to “come across as a bit rushed.”

ON SemiconductorQualcomm

Roblox

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

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