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Midday movers: Lululemon Athletica, CinCor Pharma, Exact Sciences and more

By Liz Moyer

Investing.com -- Stocks were higher on Monday as fading fears about interest rates lifted tech shares. Here are the midday movers for Jan. 9.

  • Lululemon Athletica Inc (NASDAQ:LULU) shares fell 8.6% after the athleisure apparel retailer forecast a drop in gross margins in the holiday quarter after discounting and higher costs. It did raise its outlook for fourth-quarter net revenue to a range between $2.66 billion and $2.70B compared with an earlier forecast for $2.61B to $2.66B.
  • CinCor Pharma Inc (NASDAQ:CINC) stock shot up 146% after the developer of hypertension and other cardio treatments agreed to a $1.8B takeover from AstraZeneca (NASDAQ:AZN). In other deal news on Monday, insurance software maker Duck Creek Technologies Inc (NASDAQ:DCT) agreed to a $2.6B take private by Vista Equity Partners.

  • EXACT Sciences Corporation (NASDAQ:EXAS) shares rose 21% after the maker of the Cologuard at-home colon cancer test said expected revenue in the most recent quarter rose 28%, higher than expectations. 

  • Goldman Sachs Group Inc (NYSE:GS) shares rose 2% as the Wall Street investment bank prepares to cut more than 3,000 jobs amid a slowdown in deal activity. 

  • Alibaba Group Holdings Ltd ADR (NYSE:BABA) shares rose 4% after the Chinese e-commerce giant's co-founder Jack Ma is reported to give up control of the fintech firm Ant Group after a government crackdown on big tech.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.