Check out the companies making headlines in midday trading.
Pioneer Natural Resources — The energy stock added nearly 10%. The action comes after The Wall Street Journal reported that Exxon Mobil is close to a deal to acquire Pioneer for about $60 billion. Exxon shares slid 1%.
Tesla — Shares of the electric vehicle company fell nearly 1% after Tesla cut the price of some Model 3 and Model Y versions in the U.S. Tesla began slashing prices on its cars across the world at the end of last year in a bid to stoke demand. Tesla also reported third-quarter deliveries that missed market expectations.
Levi Strauss — Shares slid 2.5% during midday trading after the denim apparel maker cut its full-year sales forecast. Late Thursday, Levi posted fiscal third-quarter revenue that missed expectations, and it cut its full-year sales guidance again. Levi's CEO said consumers were buying fewer items due to inflation and rising mortgage and gas prices.
MGM Resorts — The resort and casino operator rose 5% after offering an update on a cybersecurity issue experienced last month. Late Thursday, MGM said the cyberattack it suffered in September would cost the company about $100 million, but it expects the effect beyond the third quarter would likely be «minimal.» The company said any effect on full-year financial conditions and operational results won't be material.
Freedom Holding — Shares slid about 1% after CNBC reported that the financial services company was under investigation by federal prosecutors and the Securities and Exchange Commission. The company is being probed over compliance issues, insider stock moves and an offshore affiliate.
Philips — U.S.-listed shares fell 7% a day after the U.S. Food and Drug Administration said
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