Midday Movers: FedEx, NCR, Uber Technologies and More

By Liz Moyer

Investing.com -- U.S. stocks tumbled on Friday on fears of a global economic slowdown. Here are the midday movers for Sept. 16:

  • FedEx Corporation (NYSE:FDX) shares dropped 22% after it warned on earnings, blaming a drop in global package volume, especially in China. It will cut costs, including closing FedEx store locations and freezing hiring.
  • NCR Corp (NYSE:NCR) shares tumbled 23% after the company said it would split itself in two rather than sell itself. The new companies will focus on ATMs and digital commerce products, respectively.
  • Uber Technologies Inc (NYSE:UBER) shares fell nearly 5% after the ride-hailing company said it experienced a cybersecurity attack and was in touch with law enforcement.
  • General Electric Company (NYSE:GE) shares dropped 4% after it said supply chain issues were cutting into its projected cash flow.
  • Adobe Systems Incorporated (NASDAQ:ADBE) shares continued to sell off on Friday after a 16% drop Thursday. The stock was down 4% as analysts questioned whether its $20 billion plan to buy software company Figma was too high a price.

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