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

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Check out the companies making headlines in midday trading.

Amgen — The biopharma stock jumped 6.2% after Morgan Stanley upgraded Amgen to overweight from equal weight, saying Amgen is «largely derisked» and provides defensiveness for investors.

Walgreens Boots Alliance — Shares of the drugstore chain jumped nearly 4%, giving the Dow Jones Industrial Average a boost. Walgreens' rally came after the company announced an acquisition of healthcare firm CareCentrix. The stock is still down about 36% on the year. Walgreens is set to report its quarterly earnings on Thursday.

Uber, Lyft — Shares of the rideshare companies dropped 7% and 8%, respectively, after the Labor 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 Resorts, Las Vegas Sands — The casino stocks underperformed the broader market on Tuesday, with shares of Wynn Resorts tumbling 6% and Las Vegas Sands dropping 5.5%.

Leggett & Platt — Shares dropped 7.3% after the industrial manufacturer cut its full-year sales and earnings guidance, citing rising inflation and challenging economic conditions.

Bilibili — Shares of the Chinese video streaming company dropped about 4% after Bernstein downgraded the stock to underperform from market perform, citing balance sheet risk.

Zscaler — The cloud security stock dropped 5% after Zscaler announced the resignation of company president Amit Sinha. Sinha will remain on the company's board.

Netflix — Shares dropped about 5% after Bank of America reiterated an underperform rating on Netflix ahead of its earnings