Moderna, Zynga, Lululemon, Tilray and more

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Pedestrians walk past Canadian sportswear retailer Lululemon in Shanghai.

Alex Ty | SOPA Images | Light Rocket | Getty Images

Check out the companies making headlines in midday trading.

Zynga, Take-Two Interactive — Shares of mobile gaming company Zynga surged 41 percent after another gaming company, Take-Two Interactive, revealed plans to buy it in a cash-and-stock deal for $12.7 billion, or $9.86 a share % or more. That’s about a 64% premium to Zynga’s closing price on Friday. Shares of Take-Two fell about 15%.

Moderna — Shares of Moderna rose about 6% after the company’s chief executive said on Monday that it was “working with public health leaders around the world” to develop a booster for a variant of omicron against Covid-19 that targets Launched in the fall. The booster will soon enter clinical trials, he added.

Lululemon — Shares of the sportswear maker fell nearly 6% after the company said it now expects weak fourth-quarter results due to the omicron Covid-19 variant. Lululemon said on Monday that its fourth-quarter earnings and revenue would be at the low end of its expected range as staffing shortages and reduced store hours weighed on results.

Apria — Shares of home health-care company Apria surged more than 25% after news that it would be acquired by health-care device company Owens & Minor for about $1.45 billion in cash, or $37.50 a share. Owens & Minor shares rose about 3%.

Tilray — Cannabis stocks surged 14% after the company reported an unexpected quarterly profit. Tilray said its revenue was up about 20% from a year earlier due to increased demand for cannabis products.

Beam Therapeutics — Shares of gene-editing company Beam fell 4.3% on news of a partnership with Pfizer. The two will collaborate to develop treatments for rare genetic diseases. Pfizer shares rose slightly.

Cardinal Health — Shares of the healthcare company fell about 7.5% after providing a full-year 2022 update, saying it expects a bigger inflation impact and lower sales due to global supply chain constraints. The company’s pricing action was also expected to offset those effects, but was lower than expected.

Shockwave Medical — Shares of Shockwave Medical rose 4.4% after Bloomberg reported that rival medical device maker Penumbra was exploring a merger. However, a Penumbra representative said in a statement to Bloomberg that it had no discussions with Shockwave about a business merger or similar transaction.

Airbnb — Airbnb shares fell more than 6% after Piper Sandler downgraded the stock to neutral from overweight. The company also lowered its price target on the stock. Piper Sandler said travel patterns should return to pre-pandemic trends in 2022, with consumers more interested in traditional accommodation and air service companies.

Crypto stocks — Crypto-related stocks fell sharply on Monday as bitcoin prices briefly fell to their lowest since September. Coinbase fell about 4%, while Silvergate Capital fell 5.5%. MicroStrategy fell more than 4% and Block fell 3.8%. Risk assets saw a broader sell-off as 10-year U.S. Treasury yields climbed.

—CNBC’s Yun Li and Hannah Miao contributed reporting


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